Arbeitspapier
The role of decision-making biases in Ireland's banking crisis
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.
- Sprache
-
Englisch
- Erschienen in
-
Series: ESRI Working Paper ; No. 389
- Klassifikation
-
Wirtschaft
Criteria for Decision-Making under Risk and Uncertainty
Financial Crises
Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- Thema
-
decision-making biases
financial crises
behavioural economics
Ireland
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Lunn, Pete
- Ereignis
-
Veröffentlichung
- (wer)
-
The Economic and Social Research Institute (ESRI)
- (wo)
-
Dublin
- (wann)
-
2011
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Lunn, Pete
- The Economic and Social Research Institute (ESRI)
Entstanden
- 2011
Ähnliche Objekte (12)
Choice-induced biases in perceptual decision-making
Bounded rationality in decision making: An analysis of the decision-making biases
Mechanistic and neural basis of choice-induced biases in decision-making
How human decision-making biases influence health outcomes in patient care
Decision biases in revenue management revisited: Dynamic decision‐making under stationary and nonstationary demand
Decision biases in revenue management revisited: Dynamic decision‐making under stationary and nonstationary demand
Decision biases in revenue management revisited: Dynamic decision‐making under stationary and nonstationary demand
The role of group decision-making biases in the strategic management process
Tackling decision-making biases and misreporting in firms : evidence from experimental studies
The Role of Cognitive Biases for Users' Decision-Making in IS Usage Contexts
Low-end innovation : an analysis of decision-making biases, organizational capabilities, and adoption processes
Embodied decision biases during walking
Choice-induced biases in perceptual decision-making
Bounded rationality in decision making: An analysis of the decision-making biases
Mechanistic and neural basis of choice-induced biases in decision-making
How human decision-making biases influence health outcomes in patient care
Decision biases in revenue management revisited: Dynamic decision‐making under stationary and nonstationary demand
Decision biases in revenue management revisited: Dynamic decision‐making under stationary and nonstationary demand
Decision biases in revenue management revisited: Dynamic decision‐making under stationary and nonstationary demand
The role of group decision-making biases in the strategic management process
Tackling decision-making biases and misreporting in firms : evidence from experimental studies
The Role of Cognitive Biases for Users' Decision-Making in IS Usage Contexts
Low-end innovation : an analysis of decision-making biases, organizational capabilities, and adoption processes
Embodied decision biases during walking
Choice-induced biases in perceptual decision-making
Bounded rationality in decision making: An analysis of the decision-making biases
Mechanistic and neural basis of choice-induced biases in decision-making
How human decision-making biases influence health outcomes in patient care
Decision biases in revenue management revisited: Dynamic decision‐making under stationary and nonstationary demand
Decision biases in revenue management revisited: Dynamic decision‐making under stationary and nonstationary demand
Decision biases in revenue management revisited: Dynamic decision‐making under stationary and nonstationary demand
The role of group decision-making biases in the strategic management process
Tackling decision-making biases and misreporting in firms : evidence from experimental studies
The Role of Cognitive Biases for Users' Decision-Making in IS Usage Contexts
Low-end innovation : an analysis of decision-making biases, organizational capabilities, and adoption processes