REMINDER of the INVITATION The WU Gutmann Center cordially invites you to the forthcoming WU GUTMANN CENTER PUBLIC LECTURE (apologies for duplicated mails!) Date: June 14 (Tuesday), 2016, 4:00 pm Location: Bank Gutmann, Schwarzenbergplatz 16, A-1010 Vienna Speaker: Prof. Terrance Odean, University of California, Berkeley http://faculty.haas.berkeley.edu/odean/ Title: "Unrecognized Risk Taking in Financial Markets" Abstract Risk-taking is an essential activity in financial markets. Standard models assume that economic agents pay attention to all relevant information, are unbiased in their assessment of risk, and dispassionately match the risks they take to consistent preferences. In practice, however, investors have limited attention, display persistent biases when assessing risk, and have inconsistent preferences. Furthermore, risk-taking is influenced by emotions. Thus investors often take risks that they neither recognize nor intend to take. Those who rely on mathematical models may actually be more, not less, prone to unintended risk-taking. About Terrance Odean Terrance Odean is the Rudd Family Foundation Professor and Chair of the Finance Group at the Haas School of Business at the University of California, Berkeley. He is a member of the Journal of Investment Consulting editorial advisory board, of the Russell Sage Behavioral Economics Roundtable, of the WU Gutmann Center Academic Advisory Board at the Vienna University of Economics and Business and is a Wall Street Journal Expert Panelist. He has been an editor and an associate editor of the Review of Financial Studies, an associate editor of the Journal of Finance, a co-editor of a special issue of Management Science, an associate editor at the Journal of Behavioral Finance, a director of UC Berkeley's Experimental Social Science Laboratory, a member of the Russell Investments Academic Advisory Board, a visiting professor at the University of Stavanger, Norway, and the Willis H. Booth Professor of Finance and Banking. As an undergraduate at Berkeley, Odean studied Judgment and Decision Making with the 2002 Nobel Laureate in Economics, Daniel Kahneman. This led to his current research focus on how psychologically motivated decisions affect investor welfare and securities prices. **Please REGISTER**: Mail: gutmann-center@wu.ac.at<mailto:gutmann-center@wu.ac.at> Phone: +43-1-31336-5238 CONTACT AND FURTHER INFORMATION: WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien) Department of Finance, Accounting and Statistics Sabina Krickl www.gutmann-center.at<http://www.gutmann-center.at> Please contact gutmann-center@wu.ac.at<mailto:gutmann-center@wu.ac.at> if you do not wish to receive any further invitations from us!