Myopic Loss Aversion: Information Feedback vs. Investment Flexibility
نویسندگان
چکیده
منابع مشابه
The Effect of Information Feedback Frequency and Investment Flexibility on Myopic Loss Aversion
The prospect theory proposed by (Kahneman and Tversky, 1979) stated that people are risk-averse when faced with profits and risk-loving when faced with loss. Benartzi and Thaler (1995) combined the Myopic Loss Aversion and Mental Accounting in explaining the equity premium puzzle. Gneezy and Potters (1997) found that the betting amount under high-frequency information feedback is higher than th...
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In this paper we reexamine several experimental papers on myopic loss aversion by analyzing individual rather than aggregate choice patterns. We find that the behavior of the majority of subjects is inconsistent with the hypothesis of myopic loss aversion.
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Individuals often act myopically when they evaluate sequences of investment opportunities. For a loss averse decision maker, such myopia causes the sequence to look less attractive and might result in the rejection of an investment program that would have been accepted in less myopic view (Benartzi and Thaler, 1995). In this paper, we argue that the relation between myopia and the attractivenes...
متن کاملNo myopic loss aversion in adolescents ?
Myopic loss aversion (MLA) has been found to play a persistent role for investment behavior under risk. We study whether MLA is already present during adolescence. Quite surprisingly, we find no evidence of MLA in a sample of 755 adolescents. This finding is at odds with previous findings, and it might be explained by self-selection effects. In other dimensions, however, we are able to replicat...
متن کاملNo myopic loss aversion in adolescents? An experimental note
Myopic loss aversion (MLA) has been found to play a persistent role for investment behavior under risk. We study whether MLA is already present during adolescence. Quite surprisingly, we find no evidence of MLA in a sample of 755 adolescents. This finding is at odds with previous findings, and it might be explained by self-selection effects. In other dimensions, however, we are able to replicat...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2004
ISSN: 1556-5068
DOI: 10.2139/ssrn.557822