in this study, the profitability of contrarian and momentum strategies were traded in mid- term based on trading volume. the stocks were categorized into three parts (high, middle and low) at the outset. then, the relationship between excess return with three components such as cross-sectional risk, lead-lag effect and time-series pattern were examined based on jegadeesh and titman approach.the...

We show that measures of neural activity provided by functional magnetic resonance imaging (fMRI) can be used to test between theories of investor behavior that are difficult to distinguish using behavioral data alone. Subjects traded stocks in an experimental market while we measured their brain activity. Behaviorally, we find that, our average subject exhibits a strong disposition effect in h...

In everyday economic life, the endowment effect is a very frequent occurrence. It describes phenomena wherein person values possession more highly when they own it than do not. At present, psychological mechanism of this phenomenon mainly explained by loss aversion, but theory has great defects. A theoretical area behavioral finance effect. order to analyze traits financial market subjects (dec...