The University of Dublin | Trinity College -- Ollscoil Átha Cliath | Coláiste na Tríonóide
Trinity's Access to Research Archive
Home :: Log In :: Submit :: Alerts ::

TARA >
Administrative Staff Authors  >
Administrative Staff Authors (Scholarly Publications) >

Please use this identifier to cite or link to this item: http://hdl.handle.net/2262/56169

Title: The Role of Decision-Making Biases in Ireland's Banking Crisis
Author: LUNN, PETE
Author's Homepage: http://people.tcd.ie/lunnp
Keywords: Behavioural economics
Ireland
Decision-making biases
Financial crises
Economics
Issue Date: 19-May-2011
Publisher: ESRI
Citation: Lunn, Pete, The Role of Decision-Making Biases in Ireland's Banking Crisis, 2011
Series/Report no.: ESRI Working Paper;389
Abstract: This paper considers Ireland's banking crisis from the perspective of behavioural economics. It assesses whether known biases in judgement and decision-making were instrumental in the development and severity of the crisis. It investigates evidence that key decision-makers, including consumers, businesspeople, bankers and regulators, as well as parties such as civil servants, politicians, academics and journalists, were influenced by seven specific phenomena which have been identified previously via experiments and field studies. It concludes that evidence is consistent with the influence of these established phenomena. Ireland's long boom, rapid financial integration and lack of relevant past experience may have increased the vulnerability of decision-makers to economic and financial reasoning that proved disadvantageous. The analysis has potential implications for attempts to prevent future crises.
Description: PUBLISHED
URI: http://hdl.handle.net/2262/56169
Appears in Collections:Administrative Staff Authors (Scholarly Publications)

Files in This Item:

File Description SizeFormat
WP389.pdfPre-print (author's copy) - Non-Peer Reviewed649.08 kBAdobe PDFView/Open


This item is protected by original copyright


Please note: There is a known bug in some browsers that causes an error when a user tries to view large pdf file within the browser window. If you receive the message "The file is damaged and could not be repaired", please try one of the solutions linked below based on the browser you are using.

Items in TARA are protected by copyright, with all rights reserved, unless otherwise indicated.

 

Valid XHTML 1.0! DSpace Software Copyright © 2002-2010  Duraspace - Feedback