Victor Ricciardi
Victor Ricciardi is a Visiting Assistant Professor of Finance at Ursinus College and the Coordinator of Behavioral and Experimental Research at the Social Science Research Network (SSRN) at www.ssrn.com. He is also an editor for seven SSRN eJournals in the topic areas of behavioral finance, financial history, behavioral economics, behavioral accounting, accounting history, game theory, and decision making under risk and uncertainty. Professor Ricciardi is a leading expert on the academic literature and emerging research issues in behavioral finance. His research on the psychology of risk (risk perception) and client behavior are highly recognized in behavioral finance.
Victor Ricciardi was an Assistant Professor of Financial Management at Goucher College from 2010 to 2019. He taught undergraduate courses in personal financial planning, financial management (corporate finance), global investments, behavioral finance, and the psychology of money. Professor Ricciardi is also a former Assistant Professor of Finance from Kentucky State University from 2005 to 2008. He taught undergraduate courses in personal financial planning, corporate finance, investments, cases in financial management, research and career skills in finance, money and banking, and behavioral finance as well as a graduate course in corporate finance.
Kent Baker and Victor Ricciardi are co-editors of the book Investor Behavior: The Psychology of Financial Planning and Investing was published in February 2014 and the book is part of the Wiley Finance Series. This research endeavor is a contributor series book that incorporates 30 chapters written by 45 leading experts (academics and practitioners) on the emerging research on investor psychology in personal finance, financial planning, and investment management. Professor Ricciardi’s second book Financial Behavior – Players, Services, Products, and Markets with Kent Baker and Greg Filbeck serving as his co-editors and the publisher is Oxford University Press. This endeavor is a contributor series book with 30 chapters and over 50 contributors, the publication date was June 2017. Investor Behavior and Financial Behavior are both being translated into Chinese and will be released within the next couple of years.
He has given more than 80 presentations at seminars, workshops, conferences, and webinars in the past 20 years on the topics of investments, risk perception, behavioral finance, and the Social Science Research Network (SSRN). Professor Ricciardi is a member of the editorial board for the International Journal of Behavioural Accounting and Finance, an editorial board member for the Journal of Behavioral and Experimental Finance, and a reviewer for the Journal of Behavioral Finance & Economics. Professor Ricciardi is an editorial and advisory board member for the Retirement Management Journal. He is also a member of the advisory board of the Academy of Behavioral Finance & Economics, the National Financial Educators Council (NFEC), and the Association of Professional Fund Investors.
Since 2011, Professor Ricciardi has been quoted or interviewed in more than 150 news stories and he also has appeared on more than 45 radio, podcast, and television interviews on various behavioral finance issues. He has extensive name recognition as a behavioral finance expert with over 73,000 followers on Twitter and more than 22,900 contacts in his LinkedIn professional network. He can be found on Twitter @victorricciardi.
He began his professional career in New York City as an international portfolio accountant at Alliance Capital Management and a mutual fund accountant for Dreyfus Corporation. He has also been employed as an economic analyst at the Federal Deposit Insurance Corporation (FDIC). His most recent consulting projects involve developing risk tolerance questionnaires, writing financial blogs, and training professionals about behavioral coaching techniques for various financial and investment firms. He has more than 15 years of practical experience within the financial services industry as a mutual fund accountant and behavioral finance consultant.
Professor Ricciardi received a BBA in Accounting and Management from Hofstra University and an MBA in Finance and Advanced Professional Certificate (APC) in Economics from St. John's University. He is a former doctoral candidate in finance and achieved all but dissertation (ABD) status at Golden Gate University. His dissertation research focused on the expert decision-making process of finance professors and financial planners in assessing perceived risk for common stock investments. He also holds Graduate Certificates in Personal Financial Planning and Financial Therapy from Kansas State University.
Address: Washington and Lee University
Victor Ricciardi was an Assistant Professor of Financial Management at Goucher College from 2010 to 2019. He taught undergraduate courses in personal financial planning, financial management (corporate finance), global investments, behavioral finance, and the psychology of money. Professor Ricciardi is also a former Assistant Professor of Finance from Kentucky State University from 2005 to 2008. He taught undergraduate courses in personal financial planning, corporate finance, investments, cases in financial management, research and career skills in finance, money and banking, and behavioral finance as well as a graduate course in corporate finance.
Kent Baker and Victor Ricciardi are co-editors of the book Investor Behavior: The Psychology of Financial Planning and Investing was published in February 2014 and the book is part of the Wiley Finance Series. This research endeavor is a contributor series book that incorporates 30 chapters written by 45 leading experts (academics and practitioners) on the emerging research on investor psychology in personal finance, financial planning, and investment management. Professor Ricciardi’s second book Financial Behavior – Players, Services, Products, and Markets with Kent Baker and Greg Filbeck serving as his co-editors and the publisher is Oxford University Press. This endeavor is a contributor series book with 30 chapters and over 50 contributors, the publication date was June 2017. Investor Behavior and Financial Behavior are both being translated into Chinese and will be released within the next couple of years.
He has given more than 80 presentations at seminars, workshops, conferences, and webinars in the past 20 years on the topics of investments, risk perception, behavioral finance, and the Social Science Research Network (SSRN). Professor Ricciardi is a member of the editorial board for the International Journal of Behavioural Accounting and Finance, an editorial board member for the Journal of Behavioral and Experimental Finance, and a reviewer for the Journal of Behavioral Finance & Economics. Professor Ricciardi is an editorial and advisory board member for the Retirement Management Journal. He is also a member of the advisory board of the Academy of Behavioral Finance & Economics, the National Financial Educators Council (NFEC), and the Association of Professional Fund Investors.
Since 2011, Professor Ricciardi has been quoted or interviewed in more than 150 news stories and he also has appeared on more than 45 radio, podcast, and television interviews on various behavioral finance issues. He has extensive name recognition as a behavioral finance expert with over 73,000 followers on Twitter and more than 22,900 contacts in his LinkedIn professional network. He can be found on Twitter @victorricciardi.
He began his professional career in New York City as an international portfolio accountant at Alliance Capital Management and a mutual fund accountant for Dreyfus Corporation. He has also been employed as an economic analyst at the Federal Deposit Insurance Corporation (FDIC). His most recent consulting projects involve developing risk tolerance questionnaires, writing financial blogs, and training professionals about behavioral coaching techniques for various financial and investment firms. He has more than 15 years of practical experience within the financial services industry as a mutual fund accountant and behavioral finance consultant.
Professor Ricciardi received a BBA in Accounting and Management from Hofstra University and an MBA in Finance and Advanced Professional Certificate (APC) in Economics from St. John's University. He is a former doctoral candidate in finance and achieved all but dissertation (ABD) status at Golden Gate University. His dissertation research focused on the expert decision-making process of finance professors and financial planners in assessing perceived risk for common stock investments. He also holds Graduate Certificates in Personal Financial Planning and Financial Therapy from Kansas State University.
Address: Washington and Lee University
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Papers by Victor Ricciardi
This presentation focused on how financial experts and their clients exhibit a wide array of behavioral biases that many times result in incorrect judgments and decisions. Understanding cognitive and emotional issues are important for financial planners and investment advisors to ensure clients are being provided the best financial advice and investment data. The presenter describes some common behavioral finance biases and offers ways for overcoming these biases.
Keywords: Investor psychology, personal finance, financial planning, biases, behavioral finance, behavioural finance, financial behavior, behavioral economics, cognitive issues, affect, emotion, belief perseverance, confirmation bias, control, hindsight, framing, mental accounting, familiarity, overconfidence
Ricciardi, Victor, Chapter 26: The Psychology of Speculation in the Financial Markets (June 1, 2017). Financial Behavior: Players, Services, Products, and Markets. H. Kent Baker, Greg Filbeck, and Victor Ricciardi, editors, 481-498, New York, NY: Oxford University Press, 2017.
Ricciardi, Victor, Chapter 2: The Financial Psychology of Players, Services, and Products (June 1, 2017). Financial Behavior: Players, Services, Products, and Markets. H. Kent Baker, Greg Filbeck, and Victor Ricciardi, editors, 23-41. New York, NY: Oxford University Press, 2017.
Baker, H. Kent and Filbeck, Greg and Ricciardi, Victor, The Psychology of Financial Professionals and Their Clients (September 24, 2019). Investments & Wealth Monitor, September-October 2019, pp. 15-20. Available at SSRN: https://ssrn.com/abstract=3458946
Baker, H. Kent and Filbeck, Greg and Ricciardi, Victor, How Behavioural Biases Affect Finance Professionals (January 2017). The European Financial Review, December-January 2017, pp. 25-29. Available at SSRN: https://ssrn.com/abstract=2899214
This presentation focused on how financial experts and their clients exhibit a wide array of behavioral biases that many times result in incorrect judgments and decisions. Understanding cognitive and emotional issues are important for financial planners and investment advisors to ensure clients are being provided the best financial advice and investment data. The presenter describes some common behavioral finance biases and offers ways for overcoming these biases.
Keywords: Investor psychology, personal finance, financial planning, biases, behavioral finance, behavioural finance, financial behavior, behavioral economics, cognitive issues, affect, emotion, belief perseverance, confirmation bias, control, hindsight, framing, mental accounting, familiarity, overconfidence
Ricciardi, Victor, Chapter 26: The Psychology of Speculation in the Financial Markets (June 1, 2017). Financial Behavior: Players, Services, Products, and Markets. H. Kent Baker, Greg Filbeck, and Victor Ricciardi, editors, 481-498, New York, NY: Oxford University Press, 2017.
Ricciardi, Victor, Chapter 2: The Financial Psychology of Players, Services, and Products (June 1, 2017). Financial Behavior: Players, Services, Products, and Markets. H. Kent Baker, Greg Filbeck, and Victor Ricciardi, editors, 23-41. New York, NY: Oxford University Press, 2017.
Baker, H. Kent and Filbeck, Greg and Ricciardi, Victor, The Psychology of Financial Professionals and Their Clients (September 24, 2019). Investments & Wealth Monitor, September-October 2019, pp. 15-20. Available at SSRN: https://ssrn.com/abstract=3458946
Baker, H. Kent and Filbeck, Greg and Ricciardi, Victor, How Behavioural Biases Affect Finance Professionals (January 2017). The European Financial Review, December-January 2017, pp. 25-29. Available at SSRN: https://ssrn.com/abstract=2899214
Through detailed discussion of the central principles of behavioral finance, this enlightening Advanced Introduction provides a balanced exploration of the broad issues within the field. Chapters explain the continuous development of the discipline and provide a useful differentiation between behavioral finance and standard finance.
Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business, and law, expertly written by the world’s leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas.
Through detailed discussion of the central principles of behavioral finance, this enlightening Advanced Introduction provides a balanced exploration of the broad issues within the field. Chapters explain the continuous development of the discipline and provide a useful differentiation between behavioral finance and standard finance.
Key Features:
· Illustrates the various challenges and opportunities facing behavioral finance
· Provides clear definitions of key terms within the subject area of behavioral finance
· Investigates applications of behavioral finance in financial decision-making, including within corporate finance
· Explains why blending behavioral and standard approaches would likely improve financial understanding and lead to better decision-making
Table of Contents:
Chapter 1: A Behavioral Alternative Emerges to Standard Finance
Chapter 2: Risk Perspectives
Chapter 3: Heuristics and Behavioral Biases
Chapter 4: Cognition and Intelligence
Chapter 5: The Human Biology of Financial Decision-Making
Chapter 6: Social Finance and Sentiment
Chapter 7: Choice Architecture and Nudging
Chapter 8: The Psychology of Retirement
Chapter 9: Behavioral Corporate Finance
Chapter 10: Behavioral Finance Enters Its Second Generation
Chapter 11: Behavioral Finance Moving Forward
Financial Behavior: Players, Services, Products, and Markets provides a synthesis of the theoretical and empirical literature on the financial behavior of major stakeholders, financial services, investment products, and financial markets. The book offers a different way of looking at financial and emotional well-being and processing beliefs, emotions, and behaviors related to money. The book provides important insights about cognitive and emotional biases that influence various financial decision-makers, services, products, and markets. With diverse concepts and topics, the book brings together noted scholars and practitioners so readers can gain an in-depth understanding about this topic from experts from around the world.
In today's financial setting, the discipline of behavioral finance is an ever-changing area that continues to evolve at a rapid pace. This book takes readers through the core topics and issues as well as the latest trends, cutting-edge research developments, and real-world situations. Additionally, discussion of research on various cognitive and emotional issues is covered throughout the book. Thus, this volume covers a breadth of content from theoretical to practical, while attempting to offer a useful balance of detailed and user-friendly coverage. Those interested in a broad survey will benefit as will those searching for more in-depth presentations of specific areas within this field of study. As the seventh book in the Financial Markets and Investment Series, Financial Behavior: Players, Services, Products, and Markets offers a fresh looks at the fascinating area of financial behavior.
The book will cover the major principles of investor psychology, including heuristics, bounded rationality, regret theory, mental accounting, framing, prospect theory, and loss aversion. Specific sections of the book will delve into the role of personality traits, financial therapy, retirement planning, financial coaching, and emotions in investment decisions. Other topics covered include risk perception and tolerance, asset allocation decisions under inertia and inattention bias; evidenced based financial planning, motivation and satisfaction, behavioral investment management, and neurofinance. Contributions will delve into the behavioral underpinnings of various trading and investment topics including trader psychology, stock momentum, earnings surprises, and anomalies. The final chapters of the book examine new research on socially responsible investing, mutual funds, and real estate investing from a behavioral perspective. Empirical evidence and current literature about each type of investment issue are featured. Cited research studies are presented in a straightforward manner focusing on the comprehension of study findings, rather than on the details of mathematical frameworks.
Investor Behavior: The Psychology of Financial Planning and Investing. H. Kent Baker and Victor Ricciardi, editors. Hoboken, NJ: John Wiley & Sons, Inc., 2014.