Behavioural science in the news

The numbers of press and media 'hits' registered by our behavioural scientists, economists and accountants appear to demonstrate that the world has woken up to the fact that making financial judgements is not simply a matter of doing the maths.

WBS is one of the few business schools with the foresight to have recruited some of the leading academics researching into how human behaviour can affect the outcome of financial transactions and plans encompassing everything from an individual choice in a shop to global economic forecasting.

Over the last month, Professor Nick Chater of the Behavioural Science Group has contributed to two BBC Radio 4 documentaries, on whether governments can 'nudge' their populations into certain patterns of behaviour, and how leadership can influence outcomes.

Professor Daniel Read has commented on the Interactive Investor website that most investors are 'hampered by an innate need to look for patterns in the world around them'.

Dr Chris Olivola achieved coverage across the USA on the NPR radio station, explaining his research on the psychological factors that influence charitable giving decisions.

Today, Professor Richard Taffler of the Accounting, Markets and Organisations Group contributes to an article on the global Reuters website on the global financial uncertainty and unpredictability and how this results in a 'cauldron of emotions' for investors.

"I was convinced that we could derive significant benefits by being first mover in Europe by recruiting these expert academics," commented WBS Dean Professor Mark Taylor, "This interest in the quality financial press and beyond seems to demonstrate that we are heading in the right direction."