Today John Vandergriff and Zach Hill go back and forth on behavioral finance and confirmation bias.
--------
This episode's notes:
Behavioral Finance/Economics is a new field, founded by Daniel Kahneman and Amos Tversky; Kahneman won the Nobel Prize for Econ in 2002; Richard Thaler, won Nobel Prize in 2017, for continuing their research.
Example of this study is auto-enrollment in 401k plans. Thaler found that one behavioral bias was to anchor to things how they were. So when participants are auto-enrolled in retirement plans at work, they tend to stay in the plan rather than opt out. It is estimated that this study has helped add over $30 billion to retirement accounts since 2011.
Overconfidence
Anchoring
Loss Aversion
Confirmation Bias
--------
Find the notes for this episode here:
https://blueridgewealth.com/podcast-notes-s2e3/
Find all our podcast episodes here:
https://www.buzzsprout.com/1208288
Watch our episodes on YouTube:
https://youtube.com/playlist?list=PLsEeilQ03hrXleCYwXwuA7yMQ2pzAF8KB
For more information about our podcast, visit our landing page:
www.backandforthpodcast.com
To schedule a meeting:
https://blueridge.timetap.com
To schedule a phone call:
https://blueridgephonecall.timetap.com
Today John Vandergriff and Zach Hill go back and forth on behavioral finance and confirmation bias.
--------
This episode's notes:
Behavioral Finance/Economics is a new field, founded by Daniel Kahneman and Amos Tversky; Kahneman won the Nobel Prize for Econ in 2002; Richard Thaler, won Nobel Prize in 2017, for continuing their research.
Example of this study is auto-enrollment in 401k plans. Thaler found that one behavioral bias was to anchor to things how they were. So when participants are auto-enrolled in retirement plans at work, they tend to stay in the plan rather than opt out. It is estimated that this study has helped add over $30 billion to retirement accounts since 2011.
Overconfidence
Anchoring
Loss Aversion
Confirmation Bias
--------
Find the notes for this episode here:
https://blueridgewealth.com/podcast-notes-s2e3/
Find all our podcast episodes here:
https://www.buzzsprout.com/1208288
Watch our episodes on YouTube:
https://youtube.com/playlist?list=PLsEeilQ03hrXleCYwXwuA7yMQ2pzAF8KB
For more information about our podcast, visit our landing page:
www.backandforthpodcast.com
To schedule a meeting:
https://blueridge.timetap.com
To schedule a phone call:
https://blueridgephonecall.timetap.com