منابع مشابه
Behavioral Finance Models and Behavioral Biases in Stock Price Forecasting
Stock market is affected by news and information. If the stock market is not efficient, the reaction of stock price to news and information will place the stock market in overreaction and under-reaction states. Many models have been already presented by using different tools and techniques to forecast the stock market behavior. In this study, the reaction of stock price in the stock market was ...
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We use a new and unique dataset to investigate the way investors react to prior gains/losses and the so called ”familiarity” bias. We distinguish between di¤erent behavioral theories (loss aversion, house-money e¤ect, mental accounting) and between behavioral and rational hypotheses (pure familiarity and informationbased familiarity). We show that, on an yearly horizon, investors react to previ...
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Research indicates that individual investors trade excessively and underperform the market indices, Barber and Odean (2000). The purpose of this paper is to help explain which behavioral biases, if any, can explain this result using a simulation approach. Results indicate that putting too much weight on the current environment, anchoring, is the largest factor in explaining individual investor ...
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We investigate the way investors react to prior gains/losses. We use a new and unique dataset with detailed information on investors’ various components of wealth, income, demographic characteristics and portfolio holdings identified at the stock level. We test the theory of loss aversion against the alternative provided by standard utility theory and the house-money effect. We show that, on a ...
متن کاملBehavioral Biases in Annuity Choice: An Experiment∗
We conduct a neutral-context laboratory experiment to systematically investigate the role of the hit-by-bus concern in explaining the annuitization puzzle: the low rate of retirement-asset annuitization relative to the predictions of standard models. We vary endowed asset (annuity vs. stock of wealth vs. no explicit endowment), and find a strong endowment effect. Furthermore, we find that the o...
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ژورنال
عنوان ژورنال: Journal of the Academy of Marketing Science
سال: 2019
ISSN: 0092-0703,1552-7824
DOI: 10.1007/s11747-019-00699-x