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Do financial advisors exhibit myopic loss aversion?

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  • Kristoffer Eriksen

    ()

  • Ola Kvaløy

    ()

Abstract

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File URL: http://hdl.handle.net/10.1007/s11408-009-0124-z
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Bibliographic Info

Article provided by Springer in its journal Financial Markets and Portfolio Management.

Volume (Year): 24 (2010)
Issue (Month): 2 (June)
Pages: 159-170

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Handle: RePEc:kap:fmktpm:v:24:y:2010:i:2:p:159-170

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Web page: http://www.springerlink.com/link.asp?id=119763

Related research

Keywords: Myopic loss aversion; Experiment; C91; D81; G11;

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References

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  1. Gneezy, Uri & Potters, Jan, 1997. "An Experiment on Risk Taking and Evaluation Periods," The Quarterly Journal of Economics, MIT Press, vol. 112(2), pages 631-45, May.
  2. Matthew Rabin, 2001. "Risk Aversion and Expected Utility Theory: A Calibration Theorem," Levine's Working Paper Archive 7667, David K. Levine.
  3. John A. List, 2003. "Neoclassical Theory Versus Prospect Theory: Evidence from the Marketplace," NBER Working Papers 9736, National Bureau of Economic Research, Inc.
  4. Gerlinde Fellner & Matthias Sutter, 2005. "Causes, consequences, and cures of myopic loss aversion - An experimental investigation," Bonn Econ Discussion Papers bgse16_2005, University of Bonn, Germany.
  5. Tversky, Amos & Kahneman, Daniel, 1992. " Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
  6. Michael Haigh & John List, 2005. "Do professional traders exhibit myopic loss aversion? An experimental analysis," Artefactual Field Experiments 00052, The Field Experiments Website.
  7. Markowitz, Harry M., 1990. "Foundations of Portfolio Theory," Nobel Prize in Economics documents 1990-1, Nobel Prize Committee.
  8. Jeremy J. Siegel & Richard H. Thaler, 1997. "Anomalies: The Equity Premium Puzzle," Journal of Economic Perspectives, American Economic Association, vol. 11(1), pages 191-200, Winter.
  9. John A. List, 2002. "Preference Reversals of a Different Kind: The "More Is Less" Phenomenon," American Economic Review, American Economic Association, vol. 92(5), pages 1636-1643, December.
  10. Alexander, Gordon J. & Jones, Jonathan D. & Nigro, Peter J., 1998. "Mutual fund shareholders: characteristics, investor knowledge, and sources of information," Financial Services Review, Elsevier, vol. 7(4), pages 301-316.
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Citations

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Cited by:
  1. Ertac, Seda & Gurdal, Mehmet Y., 2012. "Deciding to decide: Gender, leadership and risk-taking in groups," Journal of Economic Behavior & Organization, Elsevier, vol. 83(1), pages 24-30.
  2. Martin Wallmeier, 2011. "Beyond payoff diagrams: how to present risk and return characteristics of structured products," Financial Markets and Portfolio Management, Springer, vol. 25(3), pages 313-338, September.
  3. Zeckhauser, Richard Jay & Trautmann, Stefan T, 2011. "Shunning Uncertainty: The Neglect of Learning Opportunities," Scholarly Articles 5347068, Harvard Kennedy School of Government.
  4. Matteo Del Vigna, 2011. "Market equilibrium with heterogeneous behavioural and classical investors' preferences," Working Papers - Mathematical Economics 2011-09, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
  5. Mayhew, Brian W. & Vitalis, Adam, 2014. "Myopic loss aversion and market experience," Journal of Economic Behavior & Organization, Elsevier, vol. 97(C), pages 113-125.
  6. Daniela Glätzle-Rützler & Matthias Sutter & Achim Zeileis, 2013. "No myopic loss aversion in adolescents? – An experimental note," Working Papers 2013-07, Faculty of Economics and Statistics, University of Innsbruck.
  7. Eriksen, Kristoffer & Kvaløy, Ola, 2012. "Myopic Risk Taking in Tournaments," UiS Working Papers in Economics and Finance 2012/13, University of Stavanger.

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