Terrance Odean

University of California, Berkeley - Haas School of Business

Rudd Family Foundation Professor of Finance

545 Student Services Building, #1900

2220 Piedmont Avenue

Berkeley, CA 94720

United States

http://www.haas.berkeley.edu/faculty/odean.html

  • University of California, Berkeley - Haas School of Business

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    • Tel: 510-642-6767
    • Fax: 510-666-2561
SCHOLARLY PAPERS

40

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SSRN CITATIONS
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1,721

CROSSREF CITATIONS

271

Scholarly Papers (40)

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1.

The Behavior of Individual Investors

Number of pages: 54 Posted: 27 Jun 2011 Last Revised: 06 Jan 2012
Brad M. Barber and Terrance Odean
University of California, Davis and University of California, Berkeley - Haas School of Business
Downloads 13,749 (396)
Citation 99

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individual investors

2.

Attention Induced Trading and Returns: Evidence from Robinhood Users

Journal of Finance, Forthcoming
Number of pages: 73 Posted: 23 Oct 2020 Last Revised: 13 Oct 2021
Brad M. Barber, Xing Huang, Terrance Odean and Christopher Schwarz
University of California, Davis, Washington University in St. Louis - Olin Business School, University of California, Berkeley - Haas School of Business and University of California at Irvine
Downloads 11,700 (534)
Citation 13

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Attention-Induced Trading, Herding, FinTech, Limited Attention, System 1 vs. System 2, Price Pressure, Return Predictability

3.

Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors

Downloads 5,567 ( 1,959)

Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors

Number of pages: 34 Posted: 12 Apr 2000
Brad M. Barber and Terrance Odean
University of California, Davis and University of California, Berkeley - Haas School of Business
Downloads 5,567 (1,930)
Citation 290

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Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors

Journal of Finance, Vol. 55, Issue 2, April 2000
Posted: 12 Apr 2000
Brad M. Barber and Terrance Odean
University of California, Davis and University of California, Berkeley - Haas School of Business

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4.

All that Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors

Downloads 5,007 ( 2,362)

All that Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors

EFA 2005 Moscow Meetings Paper
Number of pages: 51 Posted: 20 Jun 2005
Brad M. Barber and Terrance Odean
University of California, Davis and University of California, Berkeley - Haas School of Business
Downloads 5,007 (2,320)
Citation 399

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attention, news, investor behavior, individual investors, behavioral finance, behavioral biases

All that Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors

Review of Financial Studies, Vol. 21, No. 2, pp. 785-818, 2008
Posted: 26 Jun 2008
Brad M. Barber and Terrance Odean
University of California, Davis and University of California, Berkeley - Haas School of Business

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5.

The Courage of Misguided Convictions: The Trading Behavior of Individual Investors

Downloads 4,825 ( 2,545)

The Courage of Misguided Convictions: The Trading Behavior of Individual Investors

Number of pages: 37 Posted: 12 Apr 2000
Brad M. Barber and Terrance Odean
University of California, Davis and University of California, Berkeley - Haas School of Business
Downloads 4,825 (2,505)
Citation 33

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The Courage of Misguided Convictions: The Trading Behavior of Individual Investors

Financial Analyst Journal, Vol. 55, Issue 6, 1999
Posted: 12 Apr 2000
Brad M. Barber and Terrance Odean
University of California, Davis and University of California, Berkeley - Haas School of Business

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6.

The Cross-Section of Speculator Skill: Evidence from Day Trading

Number of pages: 44 Posted: 15 Apr 2004 Last Revised: 24 Feb 2013
Brad M. Barber, Yi-Tsung Lee, Yu-Jane Liu and Terrance Odean
University of California, Davis, Peking University - Guanghua School of Management, National Chengchi University (NCCU) - Department of Finance and Banking and University of California, Berkeley - Haas School of Business
Downloads 4,543 (2,820)
Citation 31

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day traders, individual investors, market efficiency

7.

Do Noise Traders Move Markets?

EFA 2006 Zurich Meetings Paper
Number of pages: 47 Posted: 15 Dec 2005
Brad M. Barber, Terrance Odean and Ning Zhu
University of California, Davis, University of California, Berkeley - Haas School of Business and China Academy of Financial Research (CAFR)
Downloads 3,655 (4,053)
Citation 59

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Behavioral Finance, Asset Pricing, Market Efficiency

8.

Boys Will Be Boys: Gender, Overconfidence, and Common Stock Investment

Downloads 3,392 ( 4,628)

Boys Will Be Boys: Gender, Overconfidence, and Common Stock Investment

Number of pages: 39 Posted: 12 Nov 1998
Brad M. Barber and Terrance Odean
University of California, Davis and University of California, Berkeley - Haas School of Business
Downloads 3,392 (4,530)
Citation 301

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Boys Will Be Boys: Gender, Overconfidence, and Common Stock Investment

Quarterly Journal of Economics, 2000
Posted: 20 Apr 2000
Brad M. Barber and Terrance Odean
University of California, Davis and University of California, Berkeley - Haas School of Business

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9.

Do Investors Trade Too Much?

Downloads 2,997 ( 5,728)
Citation 103

Do Investors Trade Too Much?

Number of pages: 41 Posted: 02 Jun 1998
Terrance Odean
University of California, Berkeley - Haas School of Business
Downloads 2,997 (5,623)
Citation 103

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Do Investors Trade Too Much?

Posted: 20 Apr 2000
Terrance Odean
University of California, Berkeley - Haas School of Business

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10.

Which Factors Matter to Investors? Evidence from Mutual Fund Flows

Number of pages: 77 Posted: 14 Mar 2014 Last Revised: 16 Jun 2016
Brad M. Barber, Xing Huang and Terrance Odean
University of California, Davis, Washington University in St. Louis - Olin Business School and University of California, Berkeley - Haas School of Business
Downloads 2,303 (8,693)
Citation 89

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mutual fund flows, investor behavior

11.

Out of Sight, Out of Mind: The Effects of Expenses on Mutual Fund Flows

Number of pages: 36 Posted: 03 May 2004
Brad M. Barber, Terrance Odean and Lu Zheng
University of California, Davis, University of California, Berkeley - Haas School of Business and University of California, Irvine - Paul Merage School of Business
Downloads 1,996 (11,034)
Citation 161

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mutual funds, investor behavior, operating expenses

12.

Systematic Noise

AFA 2004 San Diego Meetings, EFA 2005 Moscow Meetings Paper
Number of pages: 33 Posted: 14 Aug 2005
Brad M. Barber, Terrance Odean and Ning Zhu
University of California, Davis, University of California, Berkeley - Haas School of Business and China Academy of Financial Research (CAFR)
Downloads 1,852 (12,422)
Citation 71

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Noise trading, herding, individual investors,

13.

Are Investors Reluctant to Realize Their Losses?

Downloads 1,764 ( 13,414)
Citation 29

Are Investors Reluctant to Realize Their Losses?

Number of pages: 34 Posted: 01 Jun 1998
Terrance Odean
University of California, Berkeley - Haas School of Business
Downloads 1,764 (13,190)
Citation 29

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Are Investors Reluctant to Realize Their Losses?

Posted: 02 Aug 1998
Terrance Odean
University of California, Berkeley - Haas School of Business

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14.

Family, Values, and Women in Finance

Number of pages: 33 Posted: 23 Aug 2016 Last Revised: 08 Mar 2017
Renee B. Adams, Brad M. Barber and Terrance Odean
University of Oxford, University of California, Davis and University of California, Berkeley - Haas School of Business
Downloads 1,605 (15,568)
Citation 17

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Finance; Women; CFA; Investment Industry; Values; Tradition; Selection

15.

Just How Much Do Individual Investors Lose By Trading?

Downloads 1,586 ( 15,862)
Citation 130

Just How Much Do Individual Investors Lose By Trading?

AFA 2006 Boston Meetings Paper, EFA 2005 Moscow Meetings Paper
Number of pages: 30 Posted: 02 Sep 2005
Brad M. Barber, Yi-Tsung Lee, Yu-Jane Liu and Terrance Odean
University of California, Davis, Peking University - Guanghua School of Management, National Chengchi University (NCCU) - Department of Finance and Banking and University of California, Berkeley - Haas School of Business
Downloads 1,586 (15,585)
Citation 130

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market efficiency, individual investors, institutional investors, information asymmetry

Just How Much Do Individual Investors Lose by Trading?

The Review of Financial Studies, Vol. 22, No. 2, pp. 609-632, 2009
Posted: 25 Jan 2009
Brad M. Barber, Yi-Tsung Lee, Yu-Jane Liu and Terrance Odean
University of California, Davis, Peking University - Guanghua School of Management, National Chengchi University (NCCU) - Department of Finance and Banking and University of California, Berkeley - Haas School of Business

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G11, G14, G15, H31

16.

Online Investors: Do the Slow Die First?

EFA 0335
Number of pages: 47 Posted: 12 Apr 2000
Brad M. Barber and Terrance Odean
University of California, Davis and University of California, Berkeley - Haas School of Business
Downloads 1,314 (21,049)
Citation 63

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17.

Learning Fast or Slow?

Forthcoming: Review of Asset Pricing Studies
Number of pages: 58 Posted: 09 Dec 2014 Last Revised: 12 Jul 2019
Brad M. Barber, Yi-Tsung Lee, Yu-Jane Liu, Terrance Odean and Ke Zhang
University of California, Davis, Peking University - Guanghua School of Management, Peking University - Guanghua School of Management, University of California, Berkeley - Haas School of Business and Nanjing University - School of Management and Engineering
Downloads 1,261 (22,398)
Citation 14

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learning, day traders, day trading, individual investors, Taiwan

18.

Learning to Be Overconfident

Number of pages: 39 Posted: 16 Oct 1997
Simon Gervais and Terrance Odean
Duke University - Fuqua School of Business and University of California, Berkeley - Haas School of Business
Downloads 1,116 (26,760)
Citation 102

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19.

Volume, Volatility, Price, and Profit When All Traders are Above Average

Downloads 970 ( 32,697)
Citation 23

Volume, Volatility, Price, and Profit When All Traders are Above Average

Number of pages: 52 Posted: 01 Jun 1998
Terrance Odean
University of California, Berkeley - Haas School of Business
Downloads 970 (32,223)
Citation 23

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Volume, Volatility, Price, and Profit When All Traders are Above Average

Posted: 01 Sep 1998
Terrance Odean
University of California, Berkeley - Haas School of Business

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20.

Resolving a Paradox: Retail Trades Positively Predict Returns but are Not Profitable

Number of pages: 45 Posted: 18 Feb 2021 Last Revised: 19 Nov 2021
Brad M. Barber, Shengle Lin and Terrance Odean
University of California, Davis, San Francisco State University - Department of Finance and University of California, Berkeley - Haas School of Business
Downloads 949 (33,745)

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Individual Investors, Attention, Retail Trading, Return Predictability, Order Imbalance

21.

The Common Stock Investment Performance of Individual Investors

Number of pages: 47 Posted: 01 Jun 1998
Brad M. Barber and Terrance Odean
University of California, Davis and University of California, Berkeley - Haas School of Business
Downloads 945 (33,966)
Citation 4

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22.

Once Burned, Twice Shy: How Naive Learning, Counterfactuals, and Regret Affect the Repurchase of Stocks Previously Sold

Strahilevitz, M. A., Odean, T., & Barber, B. M. (2011). Once burned, twice shy: How naive learning, counterfactuals, and regret affect the repurchase of stocks previously sold. Journal of Marketing Research, 48(SPL), S102-S120.
Number of pages: 19 Posted: 16 Sep 2005 Last Revised: 22 Nov 2021
Michal Ann Strahilevitz, Terrance Odean and Brad M. Barber
Saint Mary's College of California - School of Economics & Business, University of California, Berkeley - Haas School of Business and University of California, Davis
Downloads 848 (39,506)
Citation 43

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Behavioral finance, prospect theory, disposition effect, individual investors

23.

The Math Gender Gap and Women's Career Outcomes

Number of pages: 39 Posted: 16 Mar 2017 Last Revised: 24 Mar 2022
Renee B. Adams, Brad M. Barber and Terrance Odean
University of Oxford, University of California, Davis and University of California, Berkeley - Haas School of Business
Downloads 759 (45,899)
Citation 3

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Math Gender Gap, Gender Preferences, Gender Inequality, Women’s Careers

24.

Leveraging Overconfidence

Number of pages: 76 Posted: 07 Sep 2019 Last Revised: 04 Dec 2020
Brad M. Barber, Xing Huang, K. Jeremy Ko and Terrance Odean
University of California, Davis, Washington University in St. Louis - Olin Business School, Upstart and University of California, Berkeley - Haas School of Business
Downloads 695 (51,663)
Citation 4

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Individual Investors, Margin, Overconfidence, Stock Trading

25.

Too Many Cooks Spoil the Profits: Investment Club Performance

Downloads 506 ( 77,113)

Too Many Cooks Spoil the Profits: Investment Club Performance

Number of pages: 22 Posted: 12 Apr 2000
Brad M. Barber and Terrance Odean
University of California, Davis and University of California, Berkeley - Haas School of Business
Downloads 506 (76,329)
Citation 2

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Too Many Cooks Spoil the Profits: Investment Club Performance

Financial Analyst Journal, Vol. 56, Issue 1, 2000
Posted: 12 Apr 2000
Brad M. Barber and Terrance Odean
University of California, Davis and University of California, Berkeley - Haas School of Business

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26.

STEM Parents and Women in Finance

Financial Analysts Journal, 2018 (vol. 74, no.2)
Number of pages: 33 Posted: 30 May 2017 Last Revised: 23 Aug 2018
Renee B. Adams, Brad M. Barber and Terrance Odean
University of Oxford, University of California, Davis and University of California, Berkeley - Haas School of Business
Downloads 463 (85,972)

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Women, Gender, Finance, CFA, Investment Industry

27.

Made Poorer by Choice: Worker Outcomes in Social Security vs. Private Retirement Accounts

Number of pages: 39 Posted: 01 Oct 2012 Last Revised: 07 Jul 2016
Javed Ahmed, Brad M. Barber and Terrance Odean
Metis, University of California, Davis and University of California, Berkeley - Haas School of Business
Downloads 453 (88,100)
Citation 4

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Social Security, Private Retirement Accounts, Behavioral Finance

28.

Is the Aggregate Investor Reluctant to Realize Losses? Evidence from Taiwan

Number of pages: 37 Posted: 16 Nov 2006
Brad M. Barber, Yi-Tsung Lee, Yu-Jane Liu and Terrance Odean
University of California, Davis, Peking University - Guanghua School of Management, National Chengchi University (NCCU) - Department of Finance and Banking and University of California, Berkeley - Haas School of Business
Downloads 420 (96,228)
Citation 19

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Disposition effect, behavioral finance, investor behavior

29.

Stock Repurchasing Bias of Mutual Funds

Number of pages: 57 Posted: 14 Sep 2018 Last Revised: 20 May 2021
Mengqiao Du, Alexandra Niessen-Ruenzi, Alexandra Niessen-Ruenzi and Terrance Odean
University of Mannheim, University of Mannheim, Department of FinanceUniversity of Mannheim - Department of Finance and University of California, Berkeley - Haas School of Business
Downloads 369 (111,594)
Citation 2

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Stock Repurchasing, Mutual Funds, Performance, Behavioral Bias

30.

Bubbling with Excitement: An Experiment

Number of pages: 34 Posted: 20 Mar 2012 Last Revised: 28 Jun 2012
Terrance Odean, Shengle Lin and Eduardo Andrade
University of California, Berkeley - Haas School of Business, San Francisco State University - Department of Finance and affiliation not provided to SSRN
Downloads 361 (114,358)
Citation 7

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bubbles, emotions, experimental markets

31.

Gender Diversity in Investment Management: New Research for Practitioners on How to Close the Gender Gap

CFA Institute Research Foundation 2016B - 5
Number of pages: 16 Posted: 31 May 2017
Rebecca Fender, Renee B. Adams, Brad M. Barber and Terrance Odean
CFA Institute, University of Oxford, University of California, Davis and University of California, Berkeley - Haas School of Business
Downloads 200 (207,040)
Citation 3

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32.

Easy Money, Cheap Talk, or Spuds: Inducing Risk Aversion in Economics Experiments

Number of pages: 12 Posted: 12 Aug 2019 Last Revised: 13 Oct 2019
Hans K. Hvide, Jae Lee and Terrance Odean
University of Bergen - Department of Economics, University of Aberdeen and University of California, Berkeley - Haas School of Business
Downloads 87 (387,482)

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risk preferences, experimental methodology, risk taking

33.

Is the Aggregate Investor Reluctant to Realise Losses? Evidence from Taiwan

European Financial Management, Vol. 13, No. 3, pp. 423-447, June 2007
Number of pages: 25 Posted: 24 May 2007
Brad M. Barber, Yi-Tsung Lee, Yu-Jane Liu and Terrance Odean
University of California, Davis, Peking University - Guanghua School of Management, National Chengchi University (NCCU) - Department of Finance and Banking and University of California, Berkeley - Haas School of Business
Downloads 15 (725,165)
Citation 6

Abstract:

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34.

Made Poorer by Choice: Worker Outcomes in Social Security v. Private Retirement Accounts

Posted: 11 May 2013
Javed Ahmed, Brad M. Barber and Terrance Odean
Metis, University of California, Davis and University of California, Berkeley - Haas School of Business

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Social Security, private retirement accounts, behavioral finance

35.

An Interview with Vernon L. Smith: 2002 Nobel Laureate in Economic Sciences and Father of Experimental Economics

Journal of Applied Finance, Vol. 18, Issue 2, pp. 116-123, Fall/Winter2008
Posted: 24 Jul 2012
Terrance Odean and Betty J. Simkins
University of California, Berkeley - Haas School of Business and Oklahoma State University - Stillwater - Department of Finance

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Interviews, Bidding Strategies, Auctions, Economic Bubbles, Real Estate Bubbles

36.

Overconfidence, Compensation Contracts, and Capital Budgeting

Journal of Finance, Vol. 66, No. 5, pp. 1725-77 (2011)
Posted: 07 Mar 2011 Last Revised: 22 Nov 2020
Simon Gervais, J.B. Heaton and Terrance Odean
Duke University - Fuqua School of Business, One Hat Research LLC and University of California, Berkeley - Haas School of Business

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overconfidence, capital budgeting, compensation, labor market

37.

Pioneers in Finance: Vernon Smith Interview

Journal of Applied Finance (Formerly Financial Practice and Education), Vol. 18, No. 2, 2008
Posted: 18 Jun 2009
Vernon L. Smith, Terrance Odean and Betty J. Simkins
Chapman University - Economic Science Institute, University of California, Berkeley - Haas School of Business and Oklahoma State University - Stillwater - Department of Finance

Abstract:

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Experimental economics, behavioral finance, Nobel Laureate

38.

Do Retail Trades Move Markets?

The Review of Financial Studies, Vol. 22, No. 1, pp. 151-186, 2009
Posted: 03 Jan 2009
Brad M. Barber, Terrance Odean and Ning Zhu
University of California, Davis, University of California, Berkeley - Haas School of Business and China Academy of Financial Research (CAFR)

Abstract:

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G11, G12, G14

39.

Good Reasons Sell: Reason-Based Choice Among Group and Individual Investors in the Stock Market

Management Science, Vol. 49, No. 12, pp. 1636-1652, December 2003
Posted: 15 Apr 2004
Brad M. Barber, Chip Heath and Terrance Odean
University of California, Davis, Stanford Graduate School of Business and University of California, Berkeley - Haas School of Business

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Reason-based choice, group decision making, group polarization

40.

Are Individual Investors Tax Savvy? Evidence from Retail and Discount Brokerage Accounts

Journal of Public Economics, Vol. 88, No. 1-2, pp. 419-442, January 2004
Posted: 15 Apr 2004
Brad M. Barber and Terrance Odean
University of California, Davis and University of California, Berkeley - Haas School of Business

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Aasset location, asset allocation, portfolio choice, taxation