Financial Institutions
Financial Institutions
复制标题
金融机构
DOI：
10.4324/9780429459450-13
复制
发表时间：
2019
期刊：
影响因子：
--
通讯作者：
Dan Ariely
中科院分区：
文献类型：
--
作者：
Nizan Geslevich Packin;Dan Ariely
尽管最近立法机构对风险管理给予了相当大的关注，例如通过了《多德-弗兰克法案》，但金融机构的过度冒险行为仍然猖獗。决策者不会在真空中做出风险决策，而是在多种因素影响其决策的环境中。这些因素包括认知相关的偏见和群体相关的偏见。还有一些尚未在文献中分析的工具，监管机构可以用来减少不受欢迎的或过度的冒险行为。事实上，通过塑造金融机构做出风险相关决策的环境因素，监管可以帮助行为者做出更好、风险更小的选择。为了帮助减少金融机构的过度风险承担，本文建立在行为法和经济学的一个新兴焦点上，即通过法律的规则和政策的结构来“消除”行为者的偏见。因此，文章建议使用基于行为经济学的法律的指导方针来补充多德-弗兰克法案的风险管理规定，特别是要求金融机构建立单独的风险委员会。基于行为经济学的法律的指导方针将有助于减少风险委员会表现出的偏见行为的程度。本条提出的法律的指导方针着重于金融机构新授权的风险委员会的组成、义务和工作程序。这些指导方针提供了行为激励，不仅有助于减少过度冒险，
Despite considerable recent legislative attention to risk management such as the passage of the Dodd-Frank Act, excessive risk-taking by financial institutions is still rampant. Decision-makers do not make risky decisions in a vacuum, but in an environment where multiple factors can influence their decisions. Such factors include cognitive-related biases and group-related biases. There are also tools, which have not yet been analyzed in the literature, that regulators can use to reduce undesirable or excessive risk-taking. Indeed, by shaping such environmental factors in which risk-related decisions in financial institutions are made, regulation can help actors make better, less risky choices. With the goal of helping reduce excessive risk-taking by financial institutions, this Article builds on an emerging focus in behavioral law and economics on prospects for “debiasing” actors through the structure of legal rules and policy. Accordingly, the Article suggests using behavioral economics-based legal guidelines to supplement the Dodd-Frank Act’s risk management provisions, specifically the requirement that financial institutions create separate risk committees. Behavioral economics-based legal guidelines would help reduce the degree of biased behavior that risk committees exhibit. The legal guidelines proposed in this Article focus on the composition, obligations, and work procedures of the financial institutions’ newly mandated risk committees. These guidelines provide behavioral incentives that will not only help reduce excessive risk-taking, but may even raise