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

SCHOLARLY PAPERS

42

DOWNLOADS
Rank 180

SSRN RANKINGS

Top 180

in Total Papers Downloads

109,004

SSRN CITATIONS
Rank 333

SSRN RANKINGS

Top 333

in Total Papers Citations

3,256

CROSSREF CITATIONS

255

Scholarly Papers (42)

1.

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
University of California, Davis, Washington University in St. Louis - Olin Business School, University of California, Berkeley - Haas School of Business and University of California, Irvine - Finance Area
Downloads 16,172 (449)
Citation 13

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

2.

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 15,274 (499)
Citation 148

Abstract:

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individual investors

3.
Downloads 13,304 ( 632)
Citation 1

The 'Actual Retail Price' of Equity Trades

Number of pages: 62 Posted: 17 Aug 2022 Last Revised: 24 Jul 2023
University of California, Irvine - Finance Area, University of California, Davis, Washington University in St. Louis - Olin Business School, University of California, Irvine - Paul Merage School of Business and University of California, Berkeley - Haas School of Business
Downloads 13,207 (629)

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retail trading, execution quality, bid/ask spread, market microstructure, payment for order flow, commissions, broker-dealers

The 'Actual Retail Price' of Equity Trades

Posted: 17 Aug 2022
University of California, Irvine - Finance Area, University of California, Davis, Washington University in St. Louis - Olin Business School, University of California, Irvine - Paul Merage School of Business and University of California, Berkeley - Haas School of Business
Downloads 97 (498,241)

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retail trading, execution quality, bid/ask spread, market microstructure, payment for order flow, commissions, broker-dealers

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 6,456 (2,161)
Citation 561

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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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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 5,627 (2,721)
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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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 5,159 (3,235)
Citation 39

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day traders, individual investors, market efficiency

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 5,121 (3,228)
Citation 52

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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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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 4,602 (3,871)
Citation 530

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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 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 3,852 (5,295)
Citation 63

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Behavioral Finance, Asset Pricing, Market Efficiency

10.
Downloads 3,477 ( 6,264)
Citation 200

Do Investors Trade Too Much?

Number of pages: 41 Posted: 02 Jun 1998
Terrance Odean
University of California, Berkeley - Haas School of Business
Downloads 3,477 (6,148)
Citation 200

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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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11.

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 2,491 (10,641)
Citation 89

Abstract:

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mutual fund flows, investor behavior

12.

Learning Fast or Slow?

Forthcoming: Review of Asset Pricing Studies
Number of pages: 58 Posted: 09 Dec 2014 Last Revised: 12 Jul 2019
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 2,295 (12,152)
Citation 14

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

13.

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

Number of pages: 67 Posted: 18 Feb 2021 Last Revised: 22 Mar 2023
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 2,175 (13,229)

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

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 2,098 (14,065)
Citation 19

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

15.

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 2,093 (14,111)
Citation 215

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mutual funds, investor behavior, operating expenses

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 1,998 (14,857)
Citation 53

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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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17.

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 1,913 (16,156)
Citation 102

Abstract:

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Noise trading, herding, individual investors,

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 1,715 (18,880)
Citation 194

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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

19.

A (Sub)penny For Your Thoughts: Tracking Retail Investor Activity in TAQ

Journal of Finance forthcoming
Number of pages: 47 Posted: 01 Sep 2022 Last Revised: 24 Aug 2023
University of California, Davis, Washington University in St. Louis - Olin Business School, University of California, Irvine - Paul Merage School of Business, University of California, Berkeley - Haas School of Business and University of California, Irvine - Finance Area
Downloads 1,592 (21,510)

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retail trading, execution quality, bid/ask spread, market microstructure

20.

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 1,426 (25,421)
Citation 103

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21.

Leveraging Overconfidence

Number of pages: 74 Posted: 07 Sep 2019 Last Revised: 26 Jul 2022
Brad M. Barber, Xing Huang, K. Jeremy Ko and Terrance Odean
University of California, Davis, Washington University in St. Louis - Olin Business School, affiliation not provided to SSRN and University of California, Berkeley - Haas School of Business
Downloads 1,242 (31,157)
Citation 4

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Individual Investors, Margin, Overconfidence, Stock Trading

22.

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 1,193 (33,083)
Citation 167

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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 1,110 (36,114)
Citation 26

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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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24.

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 1,010 (41,942)
Citation 5

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25.

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 967 (44,599)
Citation 3

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

26.

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
Saint Mary's College of California - School of Economics & Business, University of California, Berkeley - Haas School of Business and University of California, Davis
Downloads 924 (47,458)
Citation 43

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Behavioral finance, prospect theory, disposition effect, individual investors

27.

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 558 (91,855)

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Women, Gender, Finance, CFA, Investment Industry

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 555 (91,387)
Citation 3

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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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29.

Stock Repurchasing Bias of Mutual Funds

Number of pages: 63 Posted: 14 Sep 2018 Last Revised: 29 Jul 2023
Business School, National University of Singapore, University of Mannheim, Department of FinanceUniversity of Mannheim - Department of Finance and University of California, Berkeley - Haas School of Business
Downloads 503 (104,472)
Citation 2

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Stock Repurchasing, Mutual Funds, Performance, Behavioral Bias

30.

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 483 (109,677)
Citation 5

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Social Security, Private Retirement Accounts, Behavioral Finance

31.

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 444 (121,178)
Citation 19

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Disposition effect, behavioral finance, investor behavior

32.

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 403 (135,574)
Citation 18

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bubbles, emotions, experimental markets

33.
Downloads 335 (166,364)

Disposed to Be Overconfident

Number of pages: 42 Posted: 13 Apr 2023 Last Revised: 08 Mar 2024
Katrin Gödker, Terrance Odean and Paul Smeets
Bocconi Univesity, University of California, Berkeley - Haas School of Business and University of Amsterdam
Downloads 262 (213,622)

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Investor Beliefs, Disposition Effect, Overconfidence, Experimental Finance

Disposed to Be Overconfident

CESifo Working Paper No. 10357
Number of pages: 41 Posted: 13 Apr 2023
Katrin Gödker, Terrance Odean and Paul Smeets
Bocconi Univesity, University of California, Berkeley - Haas School of Business and University of Amsterdam
Downloads 73 (595,059)

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investor beliefs, disposition effect, overconfidence, experimental finance

34.

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
CFA Institute, University of Oxford, University of California, Davis and University of California, Berkeley - Haas School of Business
Downloads 273 (206,107)
Citation 3

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35.

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 164 (331,183)

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risk preferences, experimental methodology, risk taking

36.

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

37.

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

38.

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

39.

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

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Experimental economics, behavioral finance, Nobel Laureate

40.

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

41.

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

42.

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