''The premise of behavioral finance is that conventional theory ignores how real people make decisions and irrationalities can characterize the investors' behaviour''

Answers should include:

a) Discuss the argument above of the Behavioral Critique by explaining those irrationalities that characterize the investors' behaviour

b) Explain why Technical Analysis, which searches for predictable patterns in stock prices, is considered as useless by the Efficient Market Theory. In addition, what argument technicians put forward in contrast to the Efficient Market Theory.