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Volume 13 Risk and Rules:
The Role of Control in Financial Decision Making


The thirteenth volume of the Insights series looks at the financial personalities of the wealthy and the strategies they use to control financial decision making.

Articles in Volume 13

  • An International Picture

    Studying the differences in investor personality traits, strategy-usage and desire for financial discipline on a global scale is important to get a sense of which trends remain consistent, whilst allowing us to gain a better insight into investment behaviour on an international level.

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  • Classical Versus Rock 'n' Control

    Whilst classical finance assumes people are rational and focuses on building a logical portfolio with appropriate risk levels for the investor; behavioural finance argues that investors are not rational at all.

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  • Conclusion

    Even the best intentions to behave rationally are rarely enough when it comes to financial decision making, meaning that for those who struggle to find this balance, the use of rules can be crucial in obtaining improved emotional and financial gains.

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  • Executive Summary

    Regardless of wealth levels, investors desire greater financial discipline and self-control. The use of rules and strategies in decision making is a key influencer in financial gains for investors.

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  • Introduction

    Decision making, with all of its associated influences, emotions and biases, can be challenging. Financial decision making, involving constructing a strategy and having the self-control to adhere to it, can be even more difficult.

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  • Life Would Be Dull if We Were All the Same

    Self-control in financial decision making is shaped by many emotional variables, including our different personality traits. It is an important factor to take into account when studying behavioural finance and the relationship between net worth and financial strategy usage.

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  • Strategies: The Answer That Lies Within

    Strategies to regulate our behaviour and our decisions are used in many different scenarios. The effect of strategy-usage within financial decision making, and measuring the impact on returns, is particularly interesting.

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  • UK Regions

    Exploring differences across the UK allows us to build up a picture of regional variations in investment personalities and behaviours.

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Our Insights Panel

Dr. Ian Ayres

Professor of Law and Economics at Yale University, co-founder of stickK

Dr. Peter Ayton

Professor of Psychology at City University

Dr. Greg B Davies

Head of Behavioural and Quantitative Finance, Barclays

Dr. Barbara Fasolo

Lecturer in Decision Sciences at London School of Economics

Professor Thorsten Hens

Head of the Banking and Finance Department at Zurich University

Sheena Iyenger

Professor of Business in the Management Division at Columbia University at the Jerome A. Chazen Institute of International Business

Dr. Annie Koh

Associate Professor of Finance and Dean of Office of Executive and Professional Education at Singapore Management University

Dr. Neil Stewart

Professor of Psychology at Warwick University

Rory Sutherland

Executive Creative Director at Ogilvy UK, Vice Chairman of Ogilvy Group UK and President of the Institute of Practitioners in Advertising

Dr. Chun Xia

Assistant Professor of Finance in the Faculty of Business and Economics at the University of Hong Kong