منابع مشابه
Do Behavioral Biases Affect Order Aggressiveness?
We investigate whether behavioral biases affect the order submission strategies of investors. We take advantage of a very unique database provided by the Shanghai Stock Exchange, which allows us to track order submissions and executions for every investor, and compare with their trading performance of individual stocks. Consistent with previous studies, we find that investors exhibit dispositio...
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This paper examines whether individual investors exhibit stronger behavioral biases when value ambiguity or information uncertainty is higher. Using a six year (1991 to 1996) panel of retail stock holdings and trades, I find that investors are more overconfident and exhibit stronger disposition effect when stocks are more difficult to value. Furthermore, using trading correlation as a proxy for...
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This paper investigates whether certain individuals are prone to behavioral biases in their 401(k) investments. Using demographic data and allocation information for over 73,000 employees, the biases examined include two “allocation biases” and a “participation bias.” The findings suggest that higher salaried employees tend to make significantly better choices. Participants earning $100,000 hol...
متن کاملDo Behavioral Biases Adversely A¤ect theMacro-Economy?
This study investigates whether the adverse e¤ects of investorsbehavioral biases extend beyond the domain of nancial markets to the broad macro-economy. We focus on the risk sharing (or income smoothing) role of nancial markets and demonstrate that risk sharing levels are higher in U.S. states in which investors have higher cognitive abilities and exhibit weaker behavioral biases. Further, s...
متن کاملBehavioral 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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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2001
ISSN: 1556-5068
DOI: 10.2139/ssrn.269113