Reference Point Adaptation and Disposition Effect

• المؤلفون الرئيسيون: CHIYACHANTANA, Chiraphol New, Yang, Zongfei
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2013
• الموضوعات: disposition effect; reference point adaptation; prospect theory; institutional trading; Finance and Financial Management
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/lkcsb_research/3785; https://ink.library.smu.edu.sg/context/lkcsb_research/article/4784/viewcontent/7.pdf

This paper investigates the importance of reference point adaptation in the analysis of the disposition effect. We consider two exogenous factors pertinent to reference point adaptation: prior outcome and recent expectation of future outcome. We show that the incidence of the disposition effect vari...