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Disposition effect

The disposition effect is the tendency, or disposition, of investors to sell their winning positions too early and to hold their losing positions too long. It is one of the first, and most studied investor behavior patterns documented in the modern behavioral finance literature.

Additional literature, Shefrin and Statman’s 1985 study & Odean’s 1998 study

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Additional literature

Nicholas BarberisWei XiongStock market
3 related topics

Shefrin and Statman’s 1985 study

Hersh Shefrin
1 related topics

Odean’s 1998 study

Terrance Odean
1 related topics

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Shefrin and Statman’s 1985 study

Odean’s 1998 study

Additional literature

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Map overview Semantic statistics

Disposition effect

Nodes9
Edges8
Triples65
Avg. degree1.78
Density0.222222
Components1

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Disposition effect

Top relations

related to Other studies · 17
Disposition effect → Analysis, Camerer, December, Finnish, Grinblatt, However, Keloharju, Notably, Seru, Shumway, Stoffman, The, Their, They, Using Finnish, Weber, When
related to Odean’s 1998 study · 14
Disposition effect → Analogously, As, December, He, However, January, Odean, Outside, PGR, PLR, Terrance Odean, The, Using, While
related to Shefrin and Statman’s 1985 study · 12
Disposition effect → Gary Schlarbaum, Hersh Shefrin, In, Meir Statman, Ronald Lease, Schlarbaum, Shefrin, Statman, Statman’s, The, They, Wilbur Lewellen
related to Additional literature · 7
Disposition effect → Barberis, However, In, Nicholas Barberis, The, This, Wei Xiong
related to Relationship between disposition effect and momentum · 7
Disposition effect → Because, Grinblatt, Han, If, In, Stocks, The
is a · 3
Disposition effect → preference-driven predisposition to a particular behavior pattern, strongest behavioral bias they identify and that the most applicable reference point is original purchase price.Methodologically, tendency

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Important terminology

disposition effect investors sell selling behavior losses losers stocks individual loss trading momentum shefrin winners value stock gains investor associated

Entity relationships Subject–Predicate–Object triples

SubjectPredicateObjectConfidenceSrc
Disposition effectis atendency0.90text
Disposition effectis apreference-driven predisposition to a particular behavior pattern0.90text
Disposition effectis astrongest behavioral bias they identify and that the most applicable reference point is original purchase price.Methodologically0.90text
regretinstance ofAccepting the risky loss is at odds with disposition effect behavior.Disposition effect behavior can generate positive emotions such as pride and negative emotions0.80text
financial advisorsinstance ofthat might arise from third parties0.80text
attention can explain the discrepancyinstance ofThey report evidence suggestiong that an asymmetric allocation of cognitive resources0.80text
post-earnings announcement driftinstance ofhas been recorded in all the broad individual investor trading activity databases available and has been linked to significant pricing phenomena0.80text
momentum at the stock levelinstance ofhas been recorded in all the broad individual investor trading activity databases available and has been linked to significant pricing phenomena0.80text
Disposition effectrelated to Additional literatureNicholas Barberis0.60section
Disposition effectrelated to Additional literatureWei Xiong0.60section
Disposition effectrelated to Additional literatureThe0.60section
Disposition effectrelated to Additional literatureIn0.60section

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