Why Do Investors Trade? A Realization Utility Explanation

Finance and Accounting MeMOS (2014) 1 (1): 10-13.

6 Pages Posted: 27 Feb 2013 Last revised: 16 Jan 2014

See all articles by Jonathan E. Ingersoll

Jonathan E. Ingersoll

Yale School of Management - International Center for Finance

Lawrence J. Jin

California Institute of Technology

Date Written: February 26, 2013

Abstract

This short note provides a non-technical summary of our Review of Financial Studies paper, 'Realization Utility with Reference-Dependent Preferences'.

Keywords: realization utility, diminishing sensitivity, disposition effect

JEL Classification: G02, G11, G12

Suggested Citation

Ingersoll, Jonathan E. and Jin, Lawrence J., Why Do Investors Trade? A Realization Utility Explanation (February 26, 2013). Finance and Accounting MeMOS (2014) 1 (1): 10-13.. Available at SSRN: https://ssrn.com/abstract=2225439 or http://dx.doi.org/10.2139/ssrn.2225439

Jonathan E. Ingersoll

Yale School of Management - International Center for Finance ( email )

135 Prospect Street
P.O. Box 208200
New Haven, CT 06520-8200
United States
203-432-5924 (Phone)
203-432-6974 (Fax)

Lawrence J. Jin (Contact Author)

California Institute of Technology ( email )

1200 E. California Blvd.
MC 228-77
Pasadena, CA 91125
United States
626-395-4558 (Phone)

HOME PAGE: http://www.hss.caltech.edu/content/lawrence-jin

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