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      Analysis of the FX traders’ work using the Naturalistic Decision Making framework

      ,

      9th Bi-annual International Conference on Naturalistic Decision Making (NDM9) (NDM)

      Naturalistic Decision Making (NDM9)

      23 - 26 June 2009

      Complex Cognitive task, Foreign Exchange Market, trading behavior, Naturalistic Decision Making

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          Abstract

          Motivation – The present study deals with an aspect of the Foreign Exchange traders’ work, the choice to trade directly with other traders or indirectly through electronic brokers. Research approach – Based on data obtained through systematic observations, and adopting the naturalistic decision making framework, we searched to identify persisting patterns of the context within which the execution of orders has been carried out. Findings/Design – The results show that direct trading is preferred within contexts different from those of indirect trading. Originality/Value – Apart from the confirmation of the central hypothesis of the NDM according to which experienced decision makers prefer the pattern matching than the analytic evaluation of alternatives, these findings have also implications for both the theory of FX trading and the design of decision support tools for this complex cognitive task.

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          Author and article information

          Contributors
          Conference
          June 2009
          June 2009
          : 193-200
          Affiliations
          National Technical University of Athens

          Department of Mechanical Engineering

          Sector of Industrial Management Operations Research

          Production Management Laboratory – Ergonomics Unit
          Article
          10.14236/ewic/NDM2009.22
          © Bill Davilas et al. Published by BCS Learning and Development Ltd. 9th Bi-annual International Conference on Naturalistic Decision Making (NDM9), BCS London

          This work is licensed under a Creative Commons Attribution 4.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/

          9th Bi-annual International Conference on Naturalistic Decision Making (NDM9)
          NDM
          9
          BCS London
          23 - 26 June 2009
          Electronic Workshops in Computing (eWiC)
          Naturalistic Decision Making (NDM9)
          Product
          Product Information: 1477-9358BCS Learning & Development
          Self URI (journal page): https://ewic.bcs.org/
          Categories
          Electronic Workshops in Computing

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