Asymmetric learning and the disposition effect

Yongkil Ahn

Economics Letters, 2020, vol. 190, issue C

Abstract: I analyze the complete trading records and investor experience survey answers of 230,891 retail investors in Korea and find that individual investors learn more in the gain domain than in the loss domain. This asymmetric learning effect causes the magnitude of the disposition effect to diminish over time.

Keywords: Disposition effects; Asymmetric learning; Counterfactual thinking; Field study (search for similar items in EconPapers)
JEL-codes: D83 D90 G40 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:190:y:2020:i:c:s016517652030077x

DOI: 10.1016/j.econlet.2020.109080

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