In episode 3 of The Nudging Financial Behaviour Podcast, we’re looking at uncertainty and how it differs from risk. This discussion is all about known and unknown probabilities. We also unpack two biases – The Gambler’s Fallacy and The Hot-Hand Effect.
We thought that the best way to really get to grips with these biases was to chat to someone who knows a lot about trading. Our guest is Garth Mackenzie, a prolific trader with plenty of exciting stories to tell about his years working on the markets.
Useful links:
More about Garth Mackenzie:
Risk, Ambiguity, and the Savage Axioms by Daniel Ellsberg - https://www.jstor.org/stable/1884324
Belief in the Law of Small Numbers but Amos Tversky and Daniel Kahneman - https://www.stats.org.uk/statistical-inference/TverskyKahneman1971.pdf
Be sure to like this episode and hit the subscribe button to get notified when the next episode drops.
You can also read more on our blog: https://www.nudgingfinancialbehaviour.com/navigating-uncertainty/
Or watch to the video version of this podcast episode: https://youtu.be/jSbbeBHaW8Y
Special thanks to everyone who has helped put this series together:
Better Financial Decisions - Episode 10 | Season2
Trailer for Episode 10 – Better Financial Decisions
Diversification - Episode 9 | Season2
Trailer for Episode 9 – Diversification
Home Bias - Episode 8 | Season2
Trailer for Episode 8 – Home Bias
Primacy and Recency Effects - Episode 7 | Season2
Trailer for Episode 7 – Primacy and Recency Effects
Availability Bias - Episode 6 | Season2
Trailer for Episode 6 – Availability Bias
Impression Management - Episode 5 | Season2
Trailer for Episode 5 – Impression Management
The Disposition Effect - Episode 4 | Season2
Trailer for Episode 4 – The Disposition Effect
Trailer for Episode 3 – Navigating uncertainty
Loss aversion - Episode 2 | Season2
Trailer for Episode 2 – Loss aversion
Risk tolerance - Episode 1 | Season2
Trailer for Episode 1 – Risk tolerance
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast