Jump to ContentJump to Main Navigation
Financial BehaviorPlayers, Services, Products, and Markets$
Users without a subscription are not able to see the full content.

H. Kent Baker, Greg Filbeck, and Victor Ricciardi

Print publication date: 2017

Print ISBN-13: 9780190269999

Published to Oxford Scholarship Online: May 2017

DOI: 10.1093/acprof:oso/9780190269999.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see www.oxfordscholarship.com/page/privacy-policy).date: 14 November 2018

Practical Challenges of Implementing Behavioral Finance

Practical Challenges of Implementing Behavioral Finance

Reflections from the Field

(p.542) 29 Practical Challenges of Implementing Behavioral Finance
Financial Behavior

Greg B. Davies

Peter Brooks

Oxford University Press

Behavioral finance is useful only if it can be applied to help people make better decisions. This chapter offers reflections on the good, bad, and ugly of practical applications of behavioral finance in a commercial banking setting. It explores the difficulties of nonexperts experimenting with behavioral finance, and how effective applications require a unique mix of expert knowledge and the ability to effect change through a business. Principles of good applications of behavioral finance are also presented, with information on how to start using behavioral finance within an organization. The importance of senior management’s acknowledging that behavioral finance practitioners do not necessarily know the correct answer and that they will need to use randomized control trials to learn is also discussed.

Keywords:   behavioral finance, banking, applications, randomized control trials

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .