This paper discusses aspects of disposition effects in several ways and perspectives. There is evidence, that investors sell winners earlier and hold losers longer. Theories from mental accounting, prospect theory, self-control, decision dependent emotions, internal locus of control, and many more relate to the disposition effect.
After discussing them shortly, we investigate experiments in the laboratory and empirical evidence to come to the conclusion, that disposition effects exist for single investors and more pronounced for team investors. Tax considerations, automatic selling and decision dependent emotions change the proportion of how much investors are prone to disposition effects. The following mindmap shows an impression of the most important connections between the different effects.
Table of contents
Outline
1. Introduction
2. Basic discussion of the disposition effect
2.1. The main elements of the disposition effect
2.2. Empirical evidence of the disposition effect
2.3. Interaction of the effects
3. Experimental analysis of the the disposition effect for single investors
3.1. Theoretical background for the experiments
3.3. Results
3.4. Discussion of the results
4. Experimental analysis of the the disposition effect for team investors
4.1. Theoretical background for the experiments
4.2. Conceptual Background
4.3. Hypotheses and Experimental Procedures
4.4. Inferences
4.5. Conclusions
5. Discussion
References
- Citar trabajo
- Julian Fischer (Autor), 2017, Market Phenomena. Investors and the Disposition Effect, Múnich, GRIN Verlag, https://www.grin.com/document/352840
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