Séminaires de recherche

Rolling Mental Accounts

Finance

David Solomon , Marshall University

17 septembre 2015


When investors sell one asset and quickly buy another, their trades are consistent with rolling the mental account into the new asset rather than closing it. On days when an investor buys and sells (~31% of observations) there is no disposition effect, consistent with no disutility from realizing a loss. When trading the new position, investors exhibit a disposition effect based on the amount invested in the original position. Mutual funds exhibit a larger disposition effect when unable to roll accounts due to outflows. Sales occurring with a purchase have better performance, suggesting that avoiding the emotion of closing a mental account at a loss improves decisions.

Finance

Intervenant : Matthieu Bouvard
Desautels Faculty of Management

14 juin 2018 - De 14h00 à 15h15


Finance

Intervenant : Mikhail Simutin
Rotman School of Management

7 juin 2018 - De 14h00 à 15h15


Finance

Intervenant : Liyan Yang
Rotman School of Management

31 mai 2018 - De 14h00 à 15h15


Finance

Intervenant : Anton Lines
Columbia Business School

24 mai 2018 - De 14h00 à 15h15


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Intervenant : Ian Martin
LSE

17 mai 2018 - De 14h00 à 15h15



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