Perspectives: Ethical Decision Making: More Needed than Good Intentions

Posted: 12 Dec 2007

See all articles by Robert A. Prentice

Robert A. Prentice

University of Texas at Austin - McCombs School of Business

Abstract

The flourishing field of behavioral finance indicates that people often do not engage in optimal decision making when investing. The same cognitive biases and mental heuristics that cause suboptimal investing may also cause people to make unethical decisions. For that reason, good intentions are necessary, but they are not sufficient for finance professionals who desire to act ethically. Insights presented in this article can assist the well-intentioned to do the right thing in difficult circumstances.

Keywords: Ethics and Professional Standards: Interpreting or Analyzing Ethical and Professional Standards, Other; Corporate Governance

Suggested Citation

Prentice, Robert A., Perspectives: Ethical Decision Making: More Needed than Good Intentions. Financial Analysts Journal, Vol. 63, No. 6, 2007, Available at SSRN: https://ssrn.com/abstract=1070836

Robert A. Prentice (Contact Author)

University of Texas at Austin - McCombs School of Business ( email )

Austin, TX 78712
United States

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