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Unconscious thoughts as a spur and halt on good financial decisioning making

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  • Forbes, William

Abstract

Behavioural finance has, thus far, largely been based on applications of cognitive, consciously thought, finance, often based on evaluation of stylised games, or “framed” choices. Such an example is whether “Linda” is a feminist bank teller based on a few key indicators of her character. The unconscious mind, if mentioned at all, is portrayed as emotional; captured by “phantastic objects”, which threatens to induce the delusion of reality denial. Our paper reviews this portrayal of the unconscious, often associated with Richard Taffler, David Tucker and colleagues, and compares/contrasts it with a far more upbeat assessment of the unconscious by Gerd Gigerenzer and his fellow researchers.

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  • Forbes, William, 2024. "Unconscious thoughts as a spur and halt on good financial decisioning making," International Review of Financial Analysis, Elsevier, vol. 91(C).
    • Handle: RePEc:eee:finana:v:91:y:2024:i:c:s1057521923005288
    DOI: 10.1016/j.irfa.2023.103012
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    Keywords

    Emotional finance; Fast-and-frugal finance;

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