Purpose – The purpose of this paper is to examine positive‐feedback (PF) behavior and its relationship to momentum profitability and information uncertainty. Design/methodology/approach – Using the behavioral function of rational traders and feedback traders, the authors jointly estimate...

Purpose – The purpose of this paper is to examine positive-feedback (PF) behavior and its relationship to momentum profitability and information uncertainty. Design/methodology/approach – Using the behavioral function of rational traders and feedback traders, the authors jointly estimate the...

Purpose – The purpose of this paper is to examine positive-feedback (PF) behavior and its relationship to momentum profitability and information uncertainty. Design/methodology/approach – Using the behavioral function of rational traders and feedback traders, the authors jointly estimate the...