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The University of Southampton
Centre for Risk Research

CRR student receives Doctoral College Director’s Award

Published: 19 August 2020
Amey (bottom right) receiving his award during an online ceremony

Mr Amey Kansara, a PhD student in the Centre for Risk Research (CRR), recently received the Doctoral College Director’s Award in Enterprise for working to implement his research on the ‘left-digit bias’ in financial markets. His research will help to identify financial traders who are at risk of making substantial losses.

Amey's PhD research, which is sponsored by EPSRC CASE (Industrial Cooperative Awards in Science & Technology), examines the extent to which financial traders are susceptible to the left-digit bias: a tendency for individuals to evaluate costs and values primarily using the leftmost numerical digit while placing less emphasis on other digits further to the right (this is why goods and service are often priced, for example, as £8.99 rather than £9.00!). Amey is working towards implementing his findings in a way that will help trading brokerages identify the individuals who are most at risk from this bias and prevent substantial losses amongst investors trading on Forex and Capital markets.

Part of Amey’s research has already been published in European Journal of Finance, and another part has been submitted to European Journal of Operations Research. In response to receiving the award, Amey said “I am grateful that the practical aspects of my research have been celebrated in the form of a Doctoral College Directors Award. I would like to express my deepest gratitude to my CRR supervisors, Professor Ming-Chien Sung, Dr Tiejun Ma and Professor Johnnie Johnson for their constant guidance and advice in both my academic and commercial endeavours. Last, but not least, I would like to thank the members of the CRR research group who always took the time to answer my technical queries."

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