In this episode of The Nudging Financial Behaviour Podcast, we’re looking at two biases that are all about the order in which you receive information and how that can impact the way you make decisions. These are the Primacy Effect (also known as First Impression Bias) and Recency Bias. They’re similar but not quite the same.
To help us with our discussion and to give us some more insights into how our biases can impact the way we trade or invest, we’ve got Kristia van Heerden as our guest. Kristia is the Global Education Lead for IG Markets South Africa (the sponsor for this podcast) and has plenty of experience in the trading world. We get straight into it… and talk about common trading mistakes. So, of course, we’re unpacking stop losses and other vital tools that should be part of your trading plan.
Useful links:
More about Kristia van Heerden:
Solomon Asch experiment - https://psycnet.apa.org/doiLanding?doi=10.1037%2Fh0055756
Recency and primacy in persuasion as a function of the timing of speeches and measurements by Miller and Campbell - https://psycnet.apa.org/doiLanding?doi=10.1037%2Fh0049330
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 my blog: https://www.nudgingfinancialbehaviour.com/trading-mistakes/
Or watch to the video version of this podcast episode: https://youtu.be/hCx-J_hA1aM
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
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
Navigating uncertainty - Episode 3 | Season2
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
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