John Coates Ph.D.

John Coates

University position

Research Fellow

Departments

Judge Business School

Email

Johncoates98@gmail.com

Home page

http://johnmcoates.wordpress.com (personal home page)

Research Theme

Cognitive and Behavioural Neuroscience

Interests

Physiology and financial risk taking.

The waves of irrational exuberance and pessimism that destabilise the financial markets may be driven by physiological changes taking place within traders as they make or lose money and as market volatility rises and falls. I have been testing the hypothesis, developed while running a trading desk on Wall Street, that alterations within traders’ physiology cause their risk preferences to shift systematically across the cycle, exaggerating the peaks and troughs. To do so I have been monitoring the endocrine and autonomic nervous systems of traders on a trading floor in the City of London. These physiological systems affect the moods we experience, the memories we store and recall, and the behaviour we display in competitive and risk-taking situations. I am also looking the different styles of risk taking employed by men and women.

I complement this field work with behavioural experiments set in the lab and in artificial asset markets.

Research Focus

Keywords

Testosterone

Reward

Cortisol

Uncertainty

Neuroeconomics

Clinical conditions

Addiction

Hormonal disorders

Stress

Equipment

Behavioural analysis

Electrophysiological recording techniques

Hormone assays

Neuropsychological testing

Collaborators

Cambridge

Mark Gurnell

Ben Hardy

Zoltan Sarnyai

United Kingdom

lionel page

International

Casimir Wierzynski Web: http://casimir.net

Linda Wilbrecht Web: http://keck.ucsf.edu/neurogr...

Key publications

Coates John (2012), “The Hour Between Dog and Wolf. Risk Taking, Gut Feelings, and the Biology of Boom and Bust.” Penguin Press USA; Fourth Estate UK; Random House Canada

Coates JM, Herbert J (2008), “Endogenous steroids and financial risk taking on a London trading floor.” Proc Natl Acad Sci U S A 105(16):6167-72 PDF Details

Publications

2010

Coates JM, Gurnell M, Sarnyai Z (2010), “From molecule to market: steroid hormones and financial risk-taking.” Philos Trans R Soc Lond B Biol Sci 365(1538):331-43 PDF Details

2009

Coates JM, Gurnell M, Rustichini A (2009), “Second-to-fourth digit ratio predicts success among high-frequency financial traders.” Proc Natl Acad Sci U S A PDF Details

Coates JM, Page L (2009), “A note on trader Sharpe Ratios.” PLoS One 4(11):e8036 PDF Details