Behavioral Biases Among Professional Traders.

详细信息   

• 作者：Han ; Jaehyun.
• 学历：Ph.D.
• 年：2011
• 导师：Savickas, Robert,eadvisorSoyer, Refikecommittee memberHwang, Minecommittee memberKlock, Mark S.ecommittee memberWilson, Arthur J.ecommittee member
• 毕业院校：The George Washington University
• Department：Finance
• ISBN：9781124780894
• CBH：3465720
• Country：USA
• 语种：English
• FileSize：538905
• Pages：88

文摘

Based on proprietary S&P 500 futures trading records of professional traders, I investigate the loss-aversion, break-even, lock-in, and house-money effects. Unlike previous studies that find evidence of either loss aversion or the house-money effect, I find no consistent evidence supporting the impact of behavioral biases on professional traders. Furthermore, I examine the relation between trading experience and behavioral biases. Unlike for individual traders, I found no link between trading experience and behavioral biases among professional traders.