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Welcome to the 2017 AFS Annual Meeing, being held this year, in conjunction with FPA in Nashville!
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Monday, October 2 • 4:30pm - 5:30pm
J2b Are Financial Advisors Subject to the Delay and Magnitude Effects Evident in the Intertemporal Choices of Novice Financial Decision Makers?

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Intertemporal financial decisions involve choices between a sooner smaller reward and a later larger reward. Delay effects are evidenced by increased impulsivity (i.e., steeper discounting) when the delay to receipt of the larger later reward is decreased. Magnitude effects are evidenced by increased impulsivity (i.e., steeper discounting) when the size of the sooner smaller and alternate larger later rewards are smaller. Consistent with prior research, the results indicate that novice financial decision makers exhibit impulsive behavior with significant delay and magnitude effects. Contrary to prior research, experts (i.e., professional financial advisors) do not exhibit significant delay or magnitude effects.

Author(s): Kenneth Ryack, Ph.D., CPA, CFP®

Presenters
KR

Kenneth Ryack, Ph.D., CPA, CFP®

Associate Professor, Quinnipiac University School of Business


Monday October 2, 2017 4:30pm - 5:30pm
MCC106A