Regret, Pride, and the Disposition Effect on Stocks

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Regret, Pride, and the Disposition Effect on Stocks
Pension Research Council; registration required to download full text of paper

Dec. 18, 2006

Excerpt: [The authors] 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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