New Methods and Findings
Date: Friday 26th March 2010
Time: 09:00 - 17:00
Location: De Vere Whites Hotel, Reebok Stadium, De Havilland Way, Lostock, Bolton, BL6 6SF
Cost: 25GBP / 30 Euros
This one-day workshop will be hosted by the Economic Psychology and Decision Research Group at the School of Health & Social Sciences of the University of Bolton.
The workshop is sponsored by ICABEEP, a confederation of the International Association for Research Into Economic Psychology (IAREP) and the Society for the Advancement of Behavioural Economics (SABE). The meeting is intended to provide an opportunity for researchers in Economic Psychology to network in between IAREP-SABE annual colloquia.
Contributions will present recent findings on topics within Economic Psychology, including some using novel empirical methods.
The conference organising committee are:
Darren Duxbury, Leeds University Business School
Alan Lewis, University of Bath
Sandie McHugh, University of Bolton
Rob Ranyard, University of Bolton
Barbara Summers, Leeds University Business School
from University of Gothenburg will deliver a keynote speech entitled 'A Conceptual Framework of Psychological Accounts of Anomalies of Stock Markets'
The talk will present a conceptual framework showing how market anomalies include (1) overreaction to news, (2) disposition effect, (3) reactions to share splits, and (4) naive diversification of portfolio risk. Prof Gärling will argue that asymmetric risk attitude, loss aversion, money illusion, diversification heuristic, and co-variation neglect are cognitive biases that partly account for the anomalies of stock markets, and that affective and social influences exaggerating the market anomalies cause booms, bubbles and busts.
Paul Ormerod, Economist and Author, will deliver a keynote speech entitled 'When Rationality Fails: Lessons from the Credit Crisis'.
It is the ideas at the heart of modern macroeconomics which provided the intellectual justification of the economic policies which help create the crash. The specific focus of the paper is on the way in which mainstream economics deals with risk and uncertainty. It is this which is at the root of the financial crisis. We need to jettison the whole corpus of mainstream theory of the last 30 years.
Economic psychology offers much more realistic models of how decision makers - individuals, firms, governments - actually behave. Economics can be rebuilt on the basis of more scientifically credible rules of individual behaviour, and by restoring the importance of institutional structures.
Poster submissions, which may present work in progress or proposals for new empirical studies, will be considered until 12th March 2010. The title and short abstract of up to 250 words will be reviewed in terms of relevance to the theme of the workshop. Please submit your abstract by e-mail to the Workshop Secretary, Nicola Dunn, at: email@example.com
To download a copy of the programme for this event, please click here.
To download a copy of the abstracts booklet for this event, please click here.
The workshop will be held at De Vere Whites Hotel, Reebok Stadium, De Havilland Way, Lostock, Bolton, BL6 6SF. The hotel is 50 minutes by rail from Manchester Airport and 5 minutes walk from Horwich Parkway Train Station.
For directions and hotel information, please visit http://www.devere.co.uk/our-locations/whites/directions.html
To book a place at the workshop
We are no longer taking bookings for this workshop.
Additional Social Events (at extra cost)
* Workshop dinner
Thursday 25th March 2010 at 7.30pm
De Vere Whites Hotel.
* English Premiership Football Match
(Bolton Wanderers vs Manchester United)
Saturday 27th March 2010 at 5.30pm
If you require accommodation, the following hotels are available:
De Vere Whites Hotel, Reebok Stadium
£66.50 per person (Bed & Breakfast)
5 minutes walk from Horwich Parkway Train Station
**Please note that this hotel is fully booked for the evening of Friday 26th March 2010.
The Holiday Inn, Bolton Centre
£79.50 per person (Bed & Breakfast)
10 minutes walk from Bolton Train Station.
The train journey from Bolton Train Station to Horwich Parkway takes approximately 9 minutes; trains run regularly between the two stations.
Please mention University of Bolton when making your booking to receive University rates.
After the Event....
The Workshop was a great success. Have a look at our photos from the day: