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A bibliometric analysis of the disposition effect: Origins and future research avenues

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  • Gutiérrez-Nieto, Begoña
  • Ortiz, Cristina
  • Vicente, Luis

Abstract

This paper develops a comprehensive bibliometric analysis of a well-known bias in behavioral finance: the disposition effect. Since the term was coined in 1985, the tendency for investors to sell winners too soon and hold losers in the portfolio has been amply studied. Based on data from Web of Science and the tool VOSviewer, we obtain a complete picture of the evolution of the research on the disposition effect from citation and co-citation perspectives. The research topic has intensely increased the number of publications during the last years, and we also analyze the evolution of the lines of research. The analysis includes the yearly impact factors of the journals analyzed to ensure that the quality of publications remains. A temporal overlay visualization map shows the most used terms through time to explore future venues; disposition effect seems to be less studied alone, whereas researchers try to find interrelations with other behavioral biases.

Suggested Citation

  • Gutiérrez-Nieto, Begoña & Ortiz, Cristina & Vicente, Luis, 2023. "A bibliometric analysis of the disposition effect: Origins and future research avenues," Journal of Behavioral and Experimental Finance, Elsevier, vol. 37(C).
    • Handle: RePEc:eee:beexfi:v:37:y:2023:i:c:s221463502200096x
    DOI: 10.1016/j.jbef.2022.100774
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    More about this item

    Keywords

    Disposition effect; Behavioral finance; Literature review; Bibliometrics; Scientometrics;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G40 - Financial Economics - - Behavioral Finance - - - General
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets

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