概念
以前景理论解释。
实证
奥迪恩研究。
市场影响
与动量相关。
常见问题
- 简单来说？
- 不愿止损。
- 为何是问题？
- 降低收益。
来源核查日期：2026-10-26
参考文献
- Shefrin, H., & Statman, M. (1985). The disposition to sell winners too early and ride losers too long: Theory and evidence. Journal of Finance, 40(3), 777–790. 命名该效应的论文。
- Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47(2), 263–291. 前景理论原著。
- Odean, T. (1998). Are investors reluctant to realize their losses? Journal of Finance, 53(5), 1775–1798. 个人投资者实证。
- Weber, M., & Camerer, C. F. (1998). The disposition effect in securities trading: An experimental analysis. Journal of Economic Behavior & Organization, 33(2), 167–184. 实验研究。
- Grinblatt, M., & Han, B. (2005). Prospect theory, mental accounting, and momentum. Journal of Financial Economics, 78(2), 311–339. 与动量的关系。
- Frazzini, A. (2006). The disposition effect and underreaction to news. Journal of Finance, 61(4), 2017–2046. 对新闻反应不足。
- Barberis, N., & Xiong, W. (2009). What drives the disposition effect? An analysis of a long-standing preference-based explanation. Journal of Finance, 64(2), 751–784. 重新检验解释。