Search Results - subject:"disposition eﬀect"

Up Close and Personal: An Individual Level Analysis of the Disposition Effect

Dhar, Ravi; Zhu, Ning - School of Management, Yale University - 2002

In this paper, we analyze the trading records of a major discount brokerage house to investigate the disposition effect … disposition effect by aggregating across investors (Odean, 1998), our main objective is to identify individual differences in the … experience is responsible in part for the variation in individual disposition effect. Using demographic and socio-economic data …

Persistent link: https://www.econbiz.de/10005147053

Are All Individual Investors Equally Prone to the Disposition Effect All the Time? New Evidence from a Small Market

Cristiana Cerqueira Leal, Manuel J. Rocha Armada, João … - In: Frontiers in Finance and Economics 7 (2010) 2, pp. 38-68

This paper investigates the disposition effect on the Portuguese stock market, on the basis of a unique database that … consists of trading records of 1496 individual investors. We found strong evidence of the disposition effect, studied on the … and globally for all individual investors. Even at the end of the fiscal year, the disposition effect still holds, as …

Persistent link: https://www.econbiz.de/10009651156

A Study of the Disposition Effect for Individual Investors in the Taiwan Stock Market

Goo, Yeong-Jia; Chen, Dar-Hsin; Chang, Sze-Hsun Sylcien; … - In: Emerging Markets Finance and Trade 46 (2010) 1, pp. 108-119

We examine the disposition effect and identify its potential attributes for individual Taiwanese investors. The results … market. Second, level of education is significantly associated with the disposition effect. Investors holding college or … advance degrees have a lower disposition effect. Third, the status of gains or losses is also related to the disposition …

Persistent link: https://www.econbiz.de/10008592676

Technical Analysis, Investment Psychology, and Liquidity Provision: Evidence from the Taiwan Stock Market

Lai, Hung-Wei; Chen, Cheng-Wei; Huang, Chin-Sheng - In: Emerging Markets Finance and Trade 46 (2010) 5, pp. 18-38

We set out to empirically identify the effects on technical signals attributable to psychological biases, adopting a set of specific liquidity provision proxies for a sample of firms listed on the Taiwan Stock Exchange. The main findings of our empirical analysis are that the "disposition,"...

Persistent link: https://www.econbiz.de/10008742562

Technical analysis, investment psychology, and liquidity provision : evidence from Taiwan stock market

Lai, Hung-Wei; Chen, Cheng-Wei; Huang, Chin-sheng - In: Emerging markets finance & trade : a journal of the … 46 (2010) 5, pp. 18-38

Persistent link: https://www.econbiz.de/10009238999

Framing effects on asset markets: An experimental analysis

Kirchler, Erich; Maciejovsky, Boris; Weber, Martin - 2001

explained by prospect theory. It deals with framing, the non-linearity of subjective probabilities, the disposition effect, and … influence on trading volume. In addition, the results (iii) confirm the disposition effect. Participants who experienced a gain …

Persistent link: https://www.econbiz.de/10010310408

Framing effects on asset markets: An experimental analysis

Kirchler, Erich; Maciejovsky, Boris; Weber, Martin - Sonderforschungsbereich 373, Quantifikation und … - 2001

Persistent link: https://www.econbiz.de/10010956363

A Non-Random Walk Down the Main Street: Impact of Price Trends on Trading Decisions of Individual Investors

Kumar, Alok; Dhar, Ravi - School of Management, Yale University - 2001

, consistent with differences in expectations, the disposition effect varies across the investor segments. Our results provide some …

Persistent link: https://www.econbiz.de/10005587145

Prospect Theory, Mental Accounting, and Momentum

Grinblatt, Mark; Han, Bing - School of Management, Yale University - 2001

The tendency of some investors to hold on to their losing stocks, driven by prospect theory and mental accounting, creates a spread between a stock's fundamental value and its equilibrium price, as well as price underreaction to information. Spread convergence, arising from the random evolution...

Persistent link: https://www.econbiz.de/10008852972

Can Regret and Pride explain the Disposition Effect?

Tenberge, Maximilian - 2009

We experimentally investigated the role of regret and pride in a behavioral anomaly, the disposition effect. First, we … participants reports of regret and pride to the trading behavior consistent with the disposition effect and found that higher … reports of regret support the disposition effect in the domain of losses and higher reports of pride support the disposition …

Persistent link: https://www.econbiz.de/10009471597