How does the application of psychology to financial decision-making concept contrast with the theory of efficient markets?, What arguments are there for and against it?

Essay
Conduct research with a minimum of 5 references from the topic Behavioral Finance.

Discuss in detail the different elements that make up the article, research methodology (if applicable), findings and conclusions of the authors, and an in-depth analysis of the information presented in the article.

Explain the concept and answer:
The application of psychology to financial decision-making. How does this concept contrast with the theory of efficient markets?, What arguments are there for and against it?

Contribute a minimum of 5 pages.