True links: Precursory lessons from golf for effective financial behaviour

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Author(s)
Knutsena, Julie Therese
Malin, Mirela
West, Tracey
Brimble, Mark
Year published
2017
Metadata
Show full item recordAbstract
This article presents the results from a preliminary
study which finds there are three psychological errors
common to golf and financial behaviour which are the
cause of unfavourable outcomes, namely overoptimism,
overconfidence and emotional judgements. To manage
these errors, this study finds the same strategies used
to improve golfing decisions could carry over into our
understanding of effective financial behaviour. Further,
linking the research of effective golf play with effective
financial behaviour leverages upon a worldwide interest
which we argue has the potential to provide a range of
analogies and visual clues ...
View more >This article presents the results from a preliminary study which finds there are three psychological errors common to golf and financial behaviour which are the cause of unfavourable outcomes, namely overoptimism, overconfidence and emotional judgements. To manage these errors, this study finds the same strategies used to improve golfing decisions could carry over into our understanding of effective financial behaviour. Further, linking the research of effective golf play with effective financial behaviour leverages upon a worldwide interest which we argue has the potential to provide a range of analogies and visual clues for financial education and financial planning.
View less >
View more >This article presents the results from a preliminary study which finds there are three psychological errors common to golf and financial behaviour which are the cause of unfavourable outcomes, namely overoptimism, overconfidence and emotional judgements. To manage these errors, this study finds the same strategies used to improve golfing decisions could carry over into our understanding of effective financial behaviour. Further, linking the research of effective golf play with effective financial behaviour leverages upon a worldwide interest which we argue has the potential to provide a range of analogies and visual clues for financial education and financial planning.
View less >
Journal Title
Financial Planning Research Journal
Volume
3
Issue
1
Copyright Statement
© 2017 Griffith University. The attached file is reproduced here in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.
Subject
Banking, finance and investment not elsewhere classified