In this course, we will explore the psychological and behavioral factors that contribute to irrational and biased money decision-making. We will examine the role of cognitive biases and emotions in financial decision-making, and discuss strategies for overcoming these biases to make more rational financial choices. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Learning Objectives
After attending this presentation, you will be able to... Recognize the psychological and behavioral factors that contribute to irrational and biased money decision-making Identify common cognitive biases that impact financial decision-making Identify the role of mental accounting in financial decision-making Recognize the dangers of the ostrich effect in financial planning Use strategies for overcoming cognitive biases and emotions in financial decision-making Recognize the impact of present bias on financial planning Recognize the pitfalls of the sunk-cost fallacy in financial decision-making Identify the role of anchoring bias in financial decision-making Recognize the impact of status quo bias on financial decision-making Recognize the dangers of the bandwagon effect in financial planning
Major Topics
The major topics covered in this course include: Common irrational money decisions Cognitive biases and their impact on decision-making and ethical behavior Mental accounting The ostrich effect Present bias Sunk-cost fallacy Anchoring bias Status quo bias The bandwagon effect Emotional responses in money decisions
