Seminar

Seminar: Self-deception in financial decisions

On Tuesday February 12th 2019, Joël van der Weele (UvA) will give a presentation titled: "Self-deception in financial decisions"

Date
February 12, 2019
Time
13:00 - 14:00
Location
CPB-office, Bezuidenhoutseweg 30, The Hague (Room 3 - Braamzaal)
Presentation
Joël van der Weele (UvA)
Working language
English

The financial crisis of 2007-8 was triggered by a large fall in the value of mortgage backed securities. An often asked question is whether professionals inside the main banks were unaware of these risks, or were simply misleading their partners and clients for profit. And if they were unaware, how could they have missed the red flags and warning signs? In this talk, I’ll use recent research in behavioral economics to discuss these questions. I demonstrate how the combination of perverse economic incentives and cognitive biases can produce self-deception, willful ignorance and wishful thinking, and how this in turn leads to a neutralization of ethical arguments and a minimization of subjective risks.

Contacts

Foto Benedikt Vogt
Benedikt Vogt +31 6 50630893 Read more