Hi, I’m Richard Fairchild, and I am a researcher in behavioural economics. I want to understand the motives of social impact investors and social entrepreneurs, who think beyond the money in their investment and business decisions. Ask Me Anything!
I am senior lecturer in behavioural economics. The focus of my research is on the motives of investors and entrepreneurs to think “beyond the money” towards the social impact of their investments/enterprises, even if the societal impact is at the expense of their personal financial returns/profits.
My aim is to both understand these motives, and to think about how we can encourage more of this ‘world-changing’ behaviour across society. I employ social preference theory, in which people are not narrowly self-interested, but act with a sense of altruism, fairness, empathy or warm-glow when they think of others.
I work with a colleague in our psychology department to test these motives. For example, see this paper.
And here is a theory piece of mine where investors may think beyond the money to act with empathy and fairness.
More recently, I am beginning to examine Christian investing, which has parallels with social impact investing. Ask Me Anything!