Traders: Risks, Decisions, and Management in Financial Markets
Mark Fenton-O'Creevy, Nigel Nicholson, Emma Soane, and Paul Willman
Abstract
This is a book about traders in financial markets: what they do, the kind of people they are, how they perceive the world they inhabit, how they make decisions and take risks. This is also a book about how traders are managed — the best and the worst examples — and about the institutions they inhabit: firms, markets, cultures, and theories of how the world works. How these institutions function, how traders are managed, and how traders view the world, all have profound effects on the wider financial environment. This book explores these relationships and their implications theoretically and em ... More
This is a book about traders in financial markets: what they do, the kind of people they are, how they perceive the world they inhabit, how they make decisions and take risks. This is also a book about how traders are managed — the best and the worst examples — and about the institutions they inhabit: firms, markets, cultures, and theories of how the world works. How these institutions function, how traders are managed, and how traders view the world, all have profound effects on the wider financial environment. This book explores these relationships and their implications theoretically and empirically. The data discussed in this book draw on a three-year project researching the psychological and social influences on the behaviour and performance of traders in investment banks. 118 traders and managers in four leading organizations participated. Data were collected through semi-structured interviews supplemented by questionnaires, measures of personality, risk propensity and a novel computer based measure designed to assess illusion of control and other cognitive biases. The book draws on sociology, psychology, and economics in order to illuminate the work of traders and the world they inhabit.
Keywords:
financial markets,
risks,
decisions,
firms,
market cultures,
financial environment,
investment banking,
traders
Bibliographic Information
| Print publication date: 2004 |
Print ISBN-13: 9780199269488 |
| Published to Oxford Scholarship Online: October 2011 |
DOI:10.1093/acprof:oso/9780199269488.001.0001 |
Authors
Affiliations are at time of print publication.
Mark Fenton-O'Creevy, author
Senior Lecturer in Organizational Behaviour, and Director, Programmes and Curriculum, Open Business School
Nigel Nicholson, author
Professor of Organizational Behaviour, London Business School
Author Webpage
Emma Soane, author
Senior Lecturer, Kingston Business School
Author Webpage
Paul Willman, author
Ernest Butten Professor of Management Studies, Säid Business School
Author Webpage
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