Regret, Pride, and the Disposition Effect
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disposition effect
preferences
regret
pride
investing
Economics
preferences
regret
pride
investing
Economics
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Abstract
We develop a dynamic portfolio choice model which incorporates anticipated regret and pride in individual’s preferences and show that those preferences can cause investors to sell winning stocks and hold on to losing stocks; that is, anticipating regret and pride can help explain the disposition effect.
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2007-01-01