Although many of us believe that we make financial decisions based on rational financial criteria, this is seldom the case. This ebook introduces 5 key concepts from the field of Behavioural Finance to demonstrate the crucial role that emotions play in the design fee proposal and negotiation process. By providing both ‘real world’ examples and academic studies, readers will discover the role of emotions and learn about the strategies required to maximize the profitability of their business through more effective fee proposals and strengthened client relationships.
This ebook contains 36 pages, 9 chapters. Each chapter specifically addresses different areas of research from the world of Behavioral Finance while reviewing real-life examples from nearly 15 years of contract management and fee negotiation experience. The following is a list of chapters included in the ebook:
- Important contributors to the field of behavioural finance
- Your fee may not be as important as your clients would have you believe
- It’s all about differences not absolute values
- Value is relative to origin
- Financial decisions are influenced by arbitrary numbers
- Sometimes you can’t even give money away
- Losses and gains provoke different financial behaviour
- Perception, not value, governs price
This ebook provides readers with the following learning outcomes:
- A solid foundation from which to develop your own fee pricing strategy.
- A keen understanding of financial decision making theories.
- Working knowledge of different financial concepts and their applications.
- An introduction to the world of behavioural finance and key researchers in the field.
- Increased awareness in financial decision making.
- More financial success in your business transactions.