Can advisors eliminate the outcome bias in judgements and outcome-based emotions?

Bachmann, Kremena

doi:10.1108/RBF-11-2016-0072

Publication type:	Article in scientific journal
Type of review:	Peer review (publication)
Title:	Can advisors eliminate the outcome bias in judgements and outcome-based emotions?
Authors:	Bachmann, Kremena
DOI:	10.1108/RBF-11-2016-0072
Published in:	Review of Behavioral Finance
Volume(Issue):	10
Issue:	4
Page(s):	336
Pages to:	352
Issue Date:	2018
Publisher / Ed. Institution:	Emerald
ISSN:	1940-5979
Language:	English
Subjects:	Emotions; Risk taking; Financial advice; Investment advisors; Outcome bias
Subject (DDC):	332: Financial economics
Abstract:	An outcome bias occurs when performance is evaluated based upon the outcome of the decision rather than upon the quality of the decision itself. The purpose of this paper is to test experimentally whether advisors eliminating the uncertainty in the quality of decisions as a potential driver of the outcome bias can eliminate this bias in judgements. Additionally, the paper analyses whether such advisors can attenuate the emotional experience after decisions’ outcomes by supporting the cognitive understanding of these outcomes.
URI:	https://digitalcollection.zhaw.ch/handle/11475/15833
Fulltext version:	Published version
License (according to publishing contract):	Licence according to publishing contract
Departement:	School of Management and Law
Organisational Unit:	Institute of Wealth & Asset Management (IWA)
Appears in collections:	Publikationen School of Management and Law

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Bachmann, K. (2018). Can advisors eliminate the outcome bias in judgements and outcome-based emotions? Review of Behavioral Finance, 10(4), 336–352. https://doi.org/10.1108/RBF-11-2016-0072

Bachmann, K. (2018) ‘Can advisors eliminate the outcome bias in judgements and outcome-based emotions?’, Review of Behavioral Finance, 10(4), pp. 336–352. Available at: https://doi.org/10.1108/RBF-11-2016-0072.

K. Bachmann, “Can advisors eliminate the outcome bias in judgements and outcome-based emotions?,” Review of Behavioral Finance, vol. 10, no. 4, pp. 336–352, 2018, doi: 10.1108/RBF-11-2016-0072.

BACHMANN, Kremena, 2018. Can advisors eliminate the outcome bias in judgements and outcome-based emotions? Review of Behavioral Finance. 2018. Bd. 10, Nr. 4, S. 336–352. DOI 10.1108/RBF-11-2016-0072

Bachmann, Kremena. 2018. “Can Advisors Eliminate the Outcome Bias in Judgements and Outcome-Based Emotions?” Review of Behavioral Finance 10 (4): 336–52. https://doi.org/10.1108/RBF-11-2016-0072.

Bachmann, Kremena. “Can Advisors Eliminate the Outcome Bias in Judgements and Outcome-Based Emotions?” Review of Behavioral Finance, vol. 10, no. 4, 2018, pp. 336–52, https://doi.org/10.1108/RBF-11-2016-0072.