Professor of Wake Forest University told how tough decisions are made

15 July2017
Professor of Wake Forest University told how tough decisions are made

On July 12, Ajay Patel, Professor of Wake Forest University, hold a webinar which included a presentation under the title: “Behavioral Biases and Decision-Making". He told RANEPA Summer Campus participants how investors make decisions.

Sometimes investors evaluate startups from a rational perspective, but also taking into account some certain behavioral biases. Behavioral effects (Behavioral biases) are deviations from a regularity, so to say "ordinary" progress of financial processes, detected based on the results of empirical research within the framework of study of behavioral finance and investors activity.

RANEPA Summer Campus participants analyzed situations from their experience of communication with people, whose decisions or views were wrongly perceived due to the influence of behavioral biases. Overwhelming self-confidence and lack of experience can often be an obstacle: very often people do not notice that they make illogical decisions, and constantly repeating failures arise not from the circumstances, but are the result of wrong decisions.



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The organizers of the Summer Campus of the Presidential Academy are the Russian Presidential Academy of National Economy and Public Administration, the Government of the Republic of Tatarstan, the Association of Innovative Regions of Russia, with the support of the Group of Companies ACIG.

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