| Author: | Massa, M. Simonov, A. |
| Title: | Behavioral biases and investment |
| Journal: | Review of finance
2005 : VOL. 9:4, p. 483-507 |
| Index terms: | finance individual behaviour investments investors |
| Language: | eng |
| Abstract: | This paper examines the way investors react to former gains or losses. The authors study how gains and losses in one category of wealth, for example real estate, affect holdings in other assets such as financial assets. The results suggest that prior gains tend to increase the holding of risky assets, while prior losses tend to reduce it. |
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