Personality and investment: Personality differences affect investors' adaptation to losses
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Kalok Chan & Albert J. Menkveld & Zhishu Yang, 2008.
"Information Asymmetry and Asset Prices: Evidence from the China Foreign Share Discount,"
Journal of Finance, American Finance Association, vol. 63(1), pages 159-196, February.
- Chan, Kalok & Menkveld, Albert J. & Yang, Zhishu, 2006. "Information Asymmetry and Asset Prices: Evidence from the China Foreign share discount," Serie Research Memoranda 0005, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Arkes, Hal R. & Hirshleifer, David & Jiang, Danling & Lim, Sonya, 2008.
"Reference point adaptation: Tests in the domain of security trading,"
Organizational Behavior and Human Decision Processes, Elsevier, vol. 105(1), pages 67-81, January.
- Arkes, Hal & Hirshleifer, David & Jiang, Danling & Lim, Sonya, 2006. "Reference Point Adaptation: Tests in the Domain of Security Trading," MPRA Paper 4259, University Library of Munich, Germany.
- Menkveld, Albert J., 2008.
"Splitting orders in overlapping markets: A study of cross-listed stocks,"
Journal of Financial Intermediation, Elsevier, vol. 17(2), pages 145-174, April.
- Menkveld, Albert J., 2006. "Splitting orders in overlapping markets: a study of cross-listed stocks," Serie Research Memoranda 0003, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Herbert Gintis & Samuel Bowles & Melissa Osborne, 2001.
"Incentive-Enhancing Preferences: Personality, Behavior, and Earnings,"
American Economic Review, American Economic Association, vol. 91(2), pages 155-158, May.
- Samuel Bowles & Herbert Gintis & Melissa Osborne, 2001. "Incentive-Enhancing Preferences: Personality, Behavior and Earnings," Working Papers 01-01-004, Santa Fe Institute.
- Nyhus, Ellen K. & Pons, Empar, 2005. "The effects of personality on earnings," Journal of Economic Psychology, Elsevier, vol. 26(3), pages 363-384, June.
- Chan, Kalok & Menkveld, Albert J. & Yang, Zhishu, 2006. "Are Domestic Investors Better Informed than Foreign Investors? : Evidence from the Perfectly Segmented Market in China," Serie Research Memoranda 0004, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Groves, Melissa Osborne, 2005. "How important is your personality? Labor market returns to personality for women in the US and UK," Journal of Economic Psychology, Elsevier, vol. 26(6), pages 827-841, December.
- Richard H. Thaler, 2008.
"Mental Accounting and Consumer Choice,"
Marketing Science, INFORMS, vol. 27(1), pages 15-25, 01-02.
- Richard Thaler, 1985. "Mental Accounting and Consumer Choice," Marketing Science, INFORMS, vol. 4(3), pages 199-214.
- Verhagen, Tibert & Meents, Selmar & Tan, Yao-Hua, 2006. "Perceived risk and trust associated with purchasing at Electronic Marketplaces," Serie Research Memoranda 0001, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Richard H. Thaler & Eric J. Johnson, 1990. "Gambling with the House Money and Trying to Break Even: The Effects of Prior Outcomes on Risky Choice," Management Science, INFORMS, vol. 36(6), pages 643-660, June.
- repec:bla:jfinan:v:53:y:1998:i:5:p:1775-1798 is not listed on IDEAS
- Agterberg, M. & Hooff, B. van den & Huysman, M., 2008. "Keeping the wheels turning : multi-level dynamics in organizing networks of practice," Serie Research Memoranda 0003, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Arkes, Hal R. & Hirshleifer, David & Jiang, Danling & Lim, Sonya S., 2010. "A cross-cultural study of reference point adaptation: Evidence from China, Korea, and the US," Organizational Behavior and Human Decision Processes, Elsevier, vol. 112(2), pages 99-111, July.
- Semykina, Anastasia & Linz, Susan J., 2007. "Gender differences in personality and earnings: Evidence from Russia," Journal of Economic Psychology, Elsevier, vol. 28(3), pages 387-410, June.
- Daniel Kahneman & Amos Tversky, 2013.
"Prospect Theory: An Analysis of Decision Under Risk,"
World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127,
World Scientific Publishing Co. Pte. Ltd..
- Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
- Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
- Agterberg, M. & Huysman, M. & Hooff, B. van den, 2008. "Leadership in online knowledge networks : challenges and coping strategies in a network of practice," Serie Research Memoranda 0004, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Weber, Martin & Camerer, Colin F., 1998.
"The disposition effect in securities trading: an experimental analysis,"
Journal of Economic Behavior & Organization, Elsevier, vol. 33(2), pages 167-184, January.
- Weber, Martin & Camerer, Colin F., 1991. "The disposition effect in securities trading: An experimental analysis," Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel 276, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre.
- Lee, Carmen & Kräussl, Roman & Lucas, André & Paas, Leo, 2010. "Why do investors sell losers? How adaptation to losses affects future capitulation decisions," CFS Working Paper Series 2010/23, Center for Financial Studies (CFS).
- Shefrin, Hersh & Statman, Meir, 1985. "The Disposition to Sell Winners Too Early and Ride Losers Too Long: Theory and Evidence," Journal of Finance, American Finance Association, vol. 40(3), pages 777-790, July.
- Boone, Christophe & De Brabander, Bert & van Witteloostuijn, Arjen, 1999. "The impact of personality on behavior in five Prisoner's Dilemma games," Journal of Economic Psychology, Elsevier, vol. 20(3), pages 343-377, June.
- Stracca, Livio, 2004. "Behavioral finance and asset prices: Where do we stand?," Journal of Economic Psychology, Elsevier, vol. 25(3), pages 373-405, June.
- van der Sar, Nico L., 2004. "Behavioral finance: How matters stand," Journal of Economic Psychology, Elsevier, vol. 25(3), pages 425-444, June.
- Verhagen. T. & Feldberg, F. & Hooff, B. van den, 2008. "Explaining user adoption of virtual worlds: towards a multipurpose Explaining user adoption of virtual worlds: towards a multipurpose motivational model," Serie Research Memoranda 0006, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Ghebrihiwet, N. & Motchenkova, E.I., 2010. "Leniency programs in the presence of judicial errors," Serie Research Memoranda 0008, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Lijesen, M.G., 2010. "Empirical applications of spatial competition; an interpretative literature review," Serie Research Memoranda 0006, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Steenbruggen, J. & Borzacchiello, M.T. & Nijkamp, P. & Scholten, H.J., 2010. "Real-time data from mobile phone networks for urban incidence and traffic management - a review of application and opportunities," Serie Research Memoranda 0003, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Gheasi, M. & Nijkamp, P. & Rietveld, P., 2009. "Migration and tourist flows," Serie Research Memoranda 0059, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Sitters, R.A., 2009. "Efficient algorithms for average completion time scheduling," Serie Research Memoranda 0058, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Gromicho, J.A.S. & Hoorn, J.J. van & Timmer, G.T., 2009. "Exponentially better than brute force: solving the jobshop scheduling problem optimally by dynamic programming," Serie Research Memoranda 0056, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Jakusch, Sven Thorsten & Meyer, Steffen & Hackethal, Andreas, 2019. "Taming models of prospect theory in the wild? Estimation of Vlcek and Hens (2011)," SAFE Working Paper Series 146, Leibniz Institute for Financial Research SAFE, revised 2019.
- Hoorn, J.J. van, 2010. "A note on the worst case complexity for the capacitated vehicle routing problem," Serie Research Memoranda 0005, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Roberto Patuelli & Norbert Schanne & Daniel A. Griffith & Peter Nijkamp, 2012. "Persistence Of Regional Unemployment: Application Of A Spatial Filtering Approach To Local Labor Markets In Germany," Journal of Regional Science, Wiley Blackwell, vol. 52(2), pages 300-323, May.
- Merikivi, J. & Verhagen, T. & Feldberg, J.F.M., 2010. "Having belief(s) in social virtual worlds: A decomposed approach," Serie Research Memoranda 0010, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Marco Pleßner, 2017. "The disposition effect: a survey," Management Review Quarterly, Springer, vol. 67(1), pages 1-30, February.
- Hong Chao & Chun-Yu Ho & Xiangdong Qin, 2017. "Risk taking after absolute and relative wealth changes: The role of reference point adaptation," Journal of Risk and Uncertainty, Springer, vol. 54(2), pages 157-186, April.
- Jonathan E. Ingersoll Jr. & Lawrence J. Jin, 2014. "Realization Utility with Reference-Dependent Preferences," Papers 1408.2859, arXiv.org.
- Grinblatt, Mark & Han, Bing, 2001.
"The Disposition Effect and Momentum,"
University of California at Los Angeles, Anderson Graduate School of Management
qt6qg5d62p, Anderson Graduate School of Management, UCLA.
- Grinblatt, Mark & Han, Bing, 2003. "The Disposition Effect and Momentum," Working Paper Series 2004-3, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- Bing NMI1 Han & Mark Grinblatt, 2001. "The Disposition Effect and Momentum," Yale School of Management Working Papers ysm239, Yale School of Management.
- Mark Grinblatt & Bing Han, 2002. "The Disposition Effect and Momentum," NBER Working Papers 8734, National Bureau of Economic Research, Inc.
- Schade, Christian & Schroeder, Andreas & Krause, Kai Oliver, 2010. "Coordination after gains and losses: Is prospect theory’s value function predictive for games?," Structural Change in Agriculture/Strukturwandel im Agrarsektor (SiAg) Working Papers 59524, Humboldt University Berlin, Department of Agricultural Economics.
- Li, Jianbiao & Niu, Xiaofei & Li, Dahui & Cao, Qian, 2018. "Using Non-Invasive Brain Stimulation to Test the Role of Self-Control in Investor Behavior," EconStor Preprints 177890, ZBW - Leibniz Information Centre for Economics.
- Hsu, Yuan-Lin & Chow, Edward H., 2013. "The house money effect on investment risk taking: Evidence from Taiwan," Pacific-Basin Finance Journal, Elsevier, vol. 21(1), pages 1102-1115.
- Ang, James S. & Ismail, Ahmad K., 2015. "What premiums do target shareholders expect? Explaining negative returns upon offer announcements," Journal of Corporate Finance, Elsevier, vol. 30(C), pages 245-256.
- Schade, Christian & Steul, Martina & Schröder, Andreas, 2002. "Starting points' effects on risk-taking behavior," SFB 373 Discussion Papers 2002,15, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
- Arkes, Hal R. & Hirshleifer, David & Jiang, Danling & Lim, Sonya, 2008.
"Reference point adaptation: Tests in the domain of security trading,"
Organizational Behavior and Human Decision Processes, Elsevier, vol. 105(1), pages 67-81, January.
- Arkes, Hal & Hirshleifer, David & Jiang, Danling & Lim, Sonya, 2006. "Reference Point Adaptation: Tests in the Domain of Security Trading," MPRA Paper 4259, University Library of Munich, Germany.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vua:wpaper:2010-7. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: R. Dam (email available below). General contact details of provider: https://edirc.repec.org/data/fewvunl.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.