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

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

40

DOWNLOADS
Rank 276

SSRN RANKINGS

Top 276

in Total Papers Downloads

79,148

SSRN CITATIONS
Rank 477

SSRN RANKINGS

Top 477

in Total Papers Citations

1,719

CROSSREF CITATIONS

273

Scholarly Papers (40)

Actions:
Email selected abstracts
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 13,839 (401)
Citation 99

Abstract:

Loading...

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 12,087 (517)
Citation 13

Abstract:

Loading...

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 5,621 ( 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 5,621 (1,933)
Citation 290

Abstract:

Loading...

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

Abstract:

Loading...

4.

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

Downloads 5,030 ( 2,386)

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 5,030 (2,347)
Citation 399

Abstract:

Loading...

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

Abstract:

Loading...

5.

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

Downloads 4,835 ( 2,585)

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 4,835 (2,543)
Citation 33

Abstract:

Loading...

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

Abstract:

Loading...

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 4,588 (2,821)
Citation 31

Abstract:

Loading...

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 3,670 (4,090)
Citation 59

Abstract:

Loading...

Behavioral Finance, Asset Pricing, Market Efficiency

8.

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

Downloads 3,431 ( 4,620)

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 3,431 (4,522)
Citation 301

Abstract:

Loading...

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

Abstract:

Loading...

9.

Do Investors Trade Too Much?

Downloads 3,015 ( 5,755)
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 3,015 (5,649)
Citation 103

Abstract:

Loading...

Do Investors Trade Too Much?

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

Abstract:

Loading...

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 2,308 (8,792)
Citation 89

Abstract:

Loading...

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 1,998 (11,223)
Citation 162

Abstract:

Loading...

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 1,854 (12,585)
Citation 71

Abstract:

Loading...

Noise trading, herding, individual investors,

13.

Are Investors Reluctant to Realize Their Losses?

Downloads 1,778 ( 13,445)
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 1,778 (13,227)
Citation 29

Abstract:

Loading...

Are Investors Reluctant to Realize Their Losses?

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

Abstract:

Loading...

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 1,623 (15,525)
Citation 17

Abstract:

Loading...

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

15.

Just How Much Do Individual Investors Lose By Trading?

Downloads 1,594 ( 15,975)
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 1,594 (15,694)
Citation 130

Abstract:

Loading...

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

Abstract:

Loading...

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 1,322 (21,120)
Citation 63

Abstract:

Loading...

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 1,281 (22,174)
Citation 14

Abstract:

Loading...

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 1,117 (27,123)
Citation 102

Abstract:

Loading...

19.

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

Number of pages: 45 Posted: 18 Feb 2021 Last Revised: 06 Jun 2022
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 1,025 (30,724)

Abstract:

Loading...

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

20.

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

Downloads 977 ( 32,829)
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 977 (32,356)
Citation 23

Abstract:

Loading...

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

Abstract:

Loading...

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 946 (34,367)
Citation 4

Abstract:

Loading...

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 (40,040)
Citation 43

Abstract:

Loading...

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 761 (46,294)
Citation 3

Abstract:

Loading...

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 713 (50,609)
Citation 4

Abstract:

Loading...

Individual Investors, Margin, Overconfidence, Stock Trading

25.

Too Many Cooks Spoil the Profits: Investment Club Performance

Downloads 512 ( 76,973)

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 512 (76,188)
Citation 2

Abstract:

Loading...

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

Abstract:

Loading...

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 (87,015)

Abstract:

Loading...

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 (89,141)
Citation 4

Abstract:

Loading...

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 421 (97,079)
Citation 19

Abstract:

Loading...

Disposition effect, behavioral finance, investor behavior

29.

Stock Repurchasing Bias of Mutual Funds

Number of pages: 55 Posted: 14 Sep 2018 Last Revised: 14 Jun 2022
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 373 (111,492)
Citation 2

Abstract:

Loading...

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 362 (115,348)
Citation 7

Abstract:

Loading...

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 (209,297)
Citation 3

Abstract:

Loading...

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 88 (388,695)

Abstract:

Loading...

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 (733,941)
Citation 6

Abstract:

Loading...

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

Abstract:

Loading...

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

Abstract:

Loading...

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

Abstract:

Loading...

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:

Loading...

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:

Loading...

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

Abstract:

Loading...

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

Abstract:

Loading...

Aasset location, asset allocation, portfolio choice, taxation