Professor Paul Willman
Säid Business School, University of Oxford
Date: 11 December 2001
Time: 1:00pm - 2:30pm
Venue: CARR Seminar Room, H615
This seminar presentation will examine the management of traders in financial markets from the perspectives of agency and prospect theory. Using interview data from a sample of traders and managers in four investment banks, the presentation will argue that managers focus on avoiding losses rather than making gains. This focus emerges from the characteristics of managers and the nature of their role. The implications for agency and prospect theory, together with the policy issues for managers are discussed.