Introduction to Bias Effects
Conduct regulators are interested in why you behave the way you do. How your brain makes decisions largely dictates how you behave. As a result, it is beneficial to be aware of when we make decisions based on biases rather than rational judgements. In this video, Roger outlines some of the biases that impact decisions, namely: loss aversion, present bias, affect, overconfidence, projection and selective attention.
Overview
Conduct regulators are interested in why we behave the way we do. A big part of this is how the brain makes decisions, which is based on biases rather than fully rational judgements.
Key learning objectives:
Why do we have biases?
What is hard thinking and how does the brain deal with it?
Explain the six key biases
Why are regulators interested in biases?
Summary
Expert
Roger Miles
Roger researches behavioural risks in organisations, and advises senior leaders on how best to communicate risk and conduct matters. Previously, Roger ran risk communication programmes for professional bodies and the British Government. He now runs industry-level Academies for Conduct and Culture, and produces workshops with financial firms.
