What Decision Neuroscience Teaches Us About Financial Decision Making
Wednesday, October 13, 2010
12:00 pm - 1:30 pm
William D. Hacker Professor of Economics and Management and Professor of Finance at the California Institute of Technology
Chairs: Steve Sapra, CFA & Dan Pomerantz, CFA
An Applied Behavioral Finance Group Event
Financial decision making is the outcome of complex neuro-physiological processes involving, among others, constant re-
evaluation of the statistics of the problem at hand, balancing of the various emotional aspects, and computation of the very
value signals that are at the core of modern economic thinking. The evidence suggests that emotions play a crucial supporting
role in the mathematical computations needed for reasoned choice, rather than interfering with it, even if emotions (and their
mathematical counterparts) may not always be balanced appropriately. Decision neuroscience can be expected in the near
future to provide a number of effective tools for improved financial decision making.
Peter Bossaerts is the William D. Hacker Professor of Economics and Management and Professor of Finance at the California Institute of Technology.
He received a licentiate and doctorandus degree in applied economics from the University of Antwerp in Belgium. After coursework towards a Master's in statistics at the Free University Brussels, he changed to the University of California, Los Angeles, where he finished his PhD in Management (Finance) under Richard Roll. His first appointment as assistant professor was at Carnegie Mellon University's Graduate School of Industrial Administration. In 1990, Peter Bossaerts moved to the California Institute of Technology (Caltech), where he promoted to become Professor of Finance, and is presently the William D. Hacker Professor of Economics and Management. He was also Executive Officer for the Social Sciences and Chair of the Division of Humanities and Social Sciences. Until June 2009, Peter Bossaerts was at the Swiss Federal Institute of Technology (EPFL) as Swiss Finance Institute Professor, chairing the Laboratory for Decision Making under Uncertainty.
While his research and publications have encompassed many areas of financial economics, his present work focuses on experimental finance and decision neuroscience. This work borrows tools from many relevant fields, such as decision theory, general equilibrium theory, game theory, cognitive psychology, and decision neuroscience. His work has been published in journals such as the Journal of Finance, Econometrica, the Review of Economic Studies, Science, Proceedings of the National Academy of Sciences, and the Journal of Neuroscience. Peter Bossaerts has taught undergraduate, MBA, PhD and executive classes at various places across the world, including Yale University and IMD (Switzerland). He is or has been on the board of numerous academic journals, such as the Review of Finance, the Review of Financial Studies, Mathematical Finance and Frontiers of Neuroscience.
Registration Links (directly below):
CFALA Members: $20.00
Time: 12:00 pm - 1:30 pm, Lunch
Location: Omni Los Angeles
251 South Olive Street
Los Angeles, CA 90071
For directions call hotel: (213) 617-3300
Event parking at the Omni $12.00
Methods of payment accepted: Visa/Mastercard, American Express and Discover. If you prefer to pay by check please register online and select "purchase order" as your payment option and enter your last name as the purchase order number. Mail check to: CFA Society of Los Angeles, 350 S. Grand Ave, Suite 1680, Los Angeles CA 90071.
*Credit card payments will only be accepted through the secure online registration, and not by phone or email.