In order to explain the overreaction and underreaction phenomena, behavioral finance sets up several theoretical models including BSV model, DHS model, and HS model.

• 行为金融在对反应过度和反应不足进行实证检验的基础上，进一步尝试对其进行理论模型工作，其中较有影响力的是BSV模型、DHS模型和HS模型。