{"id":1772,"date":"2024-01-17T04:15:49","date_gmt":"2024-01-17T04:15:49","guid":{"rendered":"https:\/\/bankfin.unipi.gr\/mastersbankfin\/?post_type=courses&#038;p=1772"},"modified":"2024-01-17T04:16:26","modified_gmt":"2024-01-17T04:16:26","slug":"behavioral-finance","status":"publish","type":"courses","link":"https:\/\/bankfin.unipi.gr\/mastersbankfin\/en\/courses\/behavioral-finance\/","title":{"rendered":"Behavioral Finance"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1772\" class=\"elementor elementor-1772\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8e89d8d e-flex e-con-boxed wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-parent\" data-id=\"8e89d8d\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;gradient&quot;,&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d9ba4e1 elementor-widget elementor-widget-heading\" data-id=\"d9ba4e1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.19.0 - 29-01-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">Behavioral Finance<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-35e63ec elementor-widget elementor-widget-text-editor\" data-id=\"35e63ec\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.19.0 - 29-01-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><span style=\"color: #ffc747;\"><b>Full Time<\/b><\/span>\/\/ 2nd Semester, Course Code: <strong>\u039c\u0395\u03a7\u03a1\u0397300<\/strong><\/p><p><span style=\"color: #00ffff;\"><strong>Part Time<\/strong><\/span> \/\/ 2nd Semester, Course Code: <strong>\u039c\u0395\u03a7\u03a1\u0397-\u039c300<\/strong><\/p><p><strong>Credits:<\/strong>\u00a0<strong>6<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3d8247a e-con-full e-flex wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-child\" data-id=\"3d8247a\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;full&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c9ec618 elementor-widget elementor-widget-n-accordion\" data-id=\"c9ec618\" data-element_type=\"widget\" data-settings=\"{&quot;default_state&quot;:&quot;all_collapsed&quot;,&quot;max_items_expended&quot;:&quot;one&quot;,&quot;n_accordion_animation_duration&quot;:{&quot;unit&quot;:&quot;ms&quot;,&quot;size&quot;:400,&quot;sizes&quot;:[]}}\" data-widget_type=\"nested-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"e-n-accordion\" aria-label=\"Accordion. Open links with Enter or Space, close with Escape, and navigate with Arrow Keys\">\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-2110\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"1\" tabindex=\"0\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-2110\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><h4 class=\"e-n-accordion-item-title-text\"> Course Description in .pdf <\/h4><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-minus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h384c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-plus\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 208H272V64c0-17.67-14.33-32-32-32h-32c-17.67 0-32 14.33-32 32v144H32c-17.67 0-32 14.33-32 32v32c0 17.67 14.33 32 32 32h144v144c0 17.67 14.33 32 32 32h32c17.67 0 32-14.33 32-32V304h144c17.67 0 32-14.33 32-32v-32c0-17.67-14.33-32-32-32z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-2110\" class=\"elementor-element elementor-element-86d084e e-con-full e-flex wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-child\" data-id=\"86d084e\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;full&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-56c1203 elementor-widget elementor-widget-button\" data-id=\"56c1203\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-xs\" href=\"#\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Full Time Course Description (Greek)<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d9aee01 elementor-widget elementor-widget-button\" data-id=\"d9aee01\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-xs\" href=\"#\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Full Time Course Description (English)<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6206bdd elementor-widget elementor-widget-button\" data-id=\"6206bdd\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-xs\" href=\"#\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Part Time Course Description (Greek)<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-908b005 elementor-widget elementor-widget-button\" data-id=\"908b005\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-xs\" href=\"#\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Part Time Course Description (English)<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9382bc8 e-flex e-con-boxed wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-parent\" data-id=\"9382bc8\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-69539fb e-con-full e-flex wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-child\" data-id=\"69539fb\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;full&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3956518 elementor-widget elementor-widget-heading\" data-id=\"3956518\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Learning Outcomes<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-90a97d8 elementor-widget elementor-widget-text-editor\" data-id=\"90a97d8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>This course aims to put forward the potential contributions of psychology and neuroscience for the development of an alternative paradigm in analyzing economic decision making as far as consumption and investment choices. The choices of economic agents are not always neither rational nor random.&nbsp; Behavioral finance focuses in summarizing such behavior by employing the term heuristics and analyzing the sources as well as the economic outcomes of such behavior. In several instances, students themselves realize in the context of answering problems posed, that their choices are better described by heuristic arguments rather than rationality axioms. Prospect Theory commands the center stage of the behavioral finance paradigm.<\/p>\n<p>Upon successful completion of the course, the students will be able to<\/p>\n<ul>\n<li>Recognize the difference among the outcomes of rational and heuristic (biased) choices in economics and finance<\/li>\n<li>Understand the implications of heuristic behaviors for asset pricing and corporate decisions<\/li>\n<li>Understand the differential effects between risk aversion and loss aversion on financial decision making<\/li>\n<li>Use the main elements of prospect theory in analyzing financial behavior and outcomes<\/li>\n<li>Associate investor non-rational behavior to financial puzzles<\/li>\n<li>Recognize when and how an economic outcome is influenced and ultimately determined by heuristic behavior on the part of investors and firm executives<\/li>\n<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9a66746 elementor-widget elementor-widget-heading\" data-id=\"9a66746\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">General Competences<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-72b2fcf elementor-widget elementor-widget-text-editor\" data-id=\"72b2fcf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul>\n<li>Analysis of financial market conditions and adaption to alternative behavioral paradigms.<\/li>\n<li>Decision-making.<\/li>\n<li>Individual\/Independent work.<\/li>\n<li>Group\/Teamwork.<\/li>\n<li>Criticism and Self-criticism<\/li>\n<li>Analyst and consultant abilities.<\/li>\n<li>Critical thinking.<\/li>\n<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-028e27d elementor-widget elementor-widget-heading\" data-id=\"028e27d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Course Content<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-72a1020 elementor-widget elementor-widget-text-editor\" data-id=\"72a1020\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Course contents:<br \/>1. Foundations of financial economics: The theory of expected utility<\/p>\n<ul>\n<li>Rational preferences and the utility function<\/li>\n<li>Maximizing expected utility<\/li>\n<li>Risk Aversion<\/li>\n<\/ul>\n<p>2. Violations of the axioms of expected utility maximization<\/p>\n<ul>\n<li>Allais paradox<\/li>\n<li>Common Outcome effect<\/li>\n<li>Common Ratio Effect<\/li>\n<li>Kahneman and Tversky&rsquo;s<\/li>\n<li>The Reflection Effect<\/li>\n<li>The Isolation Effect<\/li>\n<\/ul>\n<p>3. Rationality and Psychology: Prospect Theory<\/p>\n<ul>\n<li>Loss aversion<\/li>\n<li>The value function and value weights<\/li>\n<li>Mental accounting<\/li>\n<li>Framing<\/li>\n<\/ul>\n<p>4. Heuristics<\/p>\n<ul>\n<li>Representativeness\n<ul>\n<li>i. Conjunction fallacy<\/li>\n<li>ii. Base rate neglect<\/li>\n<\/ul>\n<\/li>\n<li>Anchoring and Conservatism<\/li>\n<li>Overconfidence<\/li>\n<li>Self-Serving Bias<\/li>\n<li>Confirmation Bias<\/li>\n<\/ul>\n<p>5. The implications of Heuristics on financial decisions <br \/>6. Noise trading and limits to arbitrage<\/p>\n<div id=\"gtx-trans\" style=\"position: absolute;left: 22px;top: 313.296px\">&nbsp;<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ed37713 elementor-widget elementor-widget-heading\" data-id=\"ed37713\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Student Performance Evaluation<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ef12ace elementor-widget elementor-widget-text-editor\" data-id=\"ef12ace\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ol>\n<li>Students form teams to up to 5 members, choose a seminal article from the extant literature and either reproduce its experiment and compare results or they can devise their own similar experiment via questionnaire.<\/li>\n<li>Presentation of original paper and own experiment<\/li>\n<\/ol>\n<p>1&nbsp;&amp; 2 comprise 100% of the course grade.<\/p>\n<p>3. Written exam (100%) for students who do not submit and present their term paper<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-903d492 elementor-widget elementor-widget-heading\" data-id=\"903d492\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Bibliography<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f1746b1 elementor-widget elementor-widget-text-editor\" data-id=\"f1746b1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>Suggested Bibliography<\/strong><\/p><ul>\n<li>*&Gamma;. &Delta;&iota;&alpha;&kappa;&omicron;&gamma;&iota;\u03ac&nu;&nu;&eta;&sigmaf;: <u>&Sigma;&upsilon;&mu;&pi;&epsilon;&rho;&iota;&phi;&omicron;&rho;&iota;&kappa;\u03ae &Chi;&rho;&eta;&mu;&alpha;&tau;&omicron;&omicron;&iota;&kappa;&omicron;&nu;&omicron;&mu;&iota;&kappa;\u03ae: &Psi;&upsilon;&chi;&omicron;&lambda;&omicron;&gamma;\u03af&alpha;-&Beta;&iota;&omicron;&lambda;&omicron;&gamma;\u03af&alpha; &kappa;&alpha;&iota; &Epsilon;&pi;&epsilon;&nu;&delta;\u03cd&sigma;&epsilon;&iota;&sigmaf;<\/u>, &Epsilon;&Kappa;&Delta;&Omicron;&Sigma;&Epsilon;&Iota;&Sigma; BROKEN HILL 2022. &Mu;&Epsilon;&Rho;&Omicron;&Sigma; &Alpha;<\/li>\n<li>*&Sigma;&pi;\u03cd&rho;&omicron;&sigmaf; &Sigma;&pi;\u03cd&rho;&omicron;&upsilon;: <u>&Epsilon;&iota;&sigma;&alpha;&gamma;&omega;&gamma;\u03ae &sigma;&tau;&eta;&nbsp; &Sigma;&upsilon;&mu;&pi;&epsilon;&rho;&iota;&phi;&omicron;&rho;&iota;&kappa;\u03ae &Chi;&rho;&eta;&mu;&alpha;&tau;&omicron;&omicron;&iota;&kappa;&omicron;&nu;&omicron;&mu;&iota;&kappa;\u03ae<\/u>, &Epsilon;&Kappa;&Delta;&Omicron;&Sigma;&Epsilon;&Iota;&Sigma; &Mu;&Pi;&Epsilon;&Nu;&Omicron;&Upsilon; 2009.<\/li>\n<li>&Sigma;&pi;\u03cd&rho;&omicron;&sigmaf; &Sigma;&pi;\u03cd&rho;&omicron;&upsilon;: <u>&Alpha;&gamma;&omicron;&rho;\u03ad&sigmaf; &Kappa;&epsilon;&phi;&alpha;&lambda;&alpha;\u03af&omicron;&upsilon; &amp;&Sigma;&upsilon;&mu;&pi;&epsilon;&rho;&iota;&phi;&omicron;&rho;\u03ac &Epsilon;&pi;&epsilon;&nu;&delta;&upsilon;&tau;\u03ae<\/u> &Epsilon;&Kappa;&Delta;&Omicron;&Sigma;&Epsilon;&Iota;&Sigma; &Mu;&Pi;&Epsilon;&Nu;&Omicron;&Upsilon; 2022.<\/li>\n<li>Ackert and R. Deaves: <u>Behavioral Finance: Psychology, Decision-Making, and Markets<\/u>, SOUTH WESTERN 2017<\/li>\n<li>*D. Just: <u>Introduction to Behavioral Economics<\/u>, WILEY 2010.<\/li>\n<li>*E. Burton, S. Shah: &ldquo;<u>Behavioral Finance: Understanding the Social, Cognitive, and Economic Debates<\/u>&rdquo;, WILEY 2012<strong>. <\/strong><\/li>\n<\/ul>\n<p><strong>Related Academic Journals<\/strong><\/p><p>Journal of Behavioural finance<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d4cc936 e-con-full e-flex wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no e-con e-child\" data-id=\"d4cc936\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;full&quot;,&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5c10237 elementor-widget elementor-widget-text-editor\" data-id=\"5c10237\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: center;\"><strong>Master of Science (M.Sc.) in<br \/>\u00abBanking and Finance\u00bb<\/strong><br \/>Specialization in <br \/>\u00abBanking and Financial Management\u00bb<br \/><br \/><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5076a51 elementor-widget elementor-widget-heading\" data-id=\"5076a51\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Courses<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f6d5c9f hfe-nav-menu__breakpoint-none hfe-nav-menu__align-left hfe-submenu-icon-arrow hfe-submenu-animation-none hfe-link-redirect-child elementor-widget elementor-widget-navigation-menu\" data-id=\"f6d5c9f\" data-element_type=\"widget\" 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