Doing Less With More

Heimer, Rawley Z.; Imas, Alex

doi:10.2139/ssrn.3300456

SSRN Journal

2018

DOI: 10.2139/ssrn.3300456

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Doing Less With More

Rawley Z. Heimer

Alex Imas

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2019

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“…cation (Calvet, Campbell, and Sodini, 2007). The disposition eect has also been found to be linked to trading experience (Seru, Shumway, and Stoman, 2010) and leverage (Heimer and Imas, 2019). Kumar (2009) nds that gambling propensity is related to preference for lottery-like stocks.…”

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confidence: 99%

Attention and Biases: Evidence from Tax-Inattentive Investors

Birru¹,

Chague

De-Losso

et al. 2019

SSRN Journal

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Using bunching induced by a policy notch for identication, we rst provide evidence of investor inattention to a very simple and well-known capital-gains tax exemption in the Brazilian stock market. We then show that tax-inattentive investors exhibit stronger behavioral biases and worse trading performance, even after controlling for several investor-level variables such as trading experience, observed performance,nancial sophistication, age, and occupation. This is consistent with inattention being a common source of behavioral biases.

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mentioning

confidence: 99%

Attention and Biases: Evidence from Tax-Inattentive Investors

Birru¹,

Chague

De-Losso

et al. 2019

SSRN Journal

View full text Add to dashboard Cite

show abstract

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Doing Less With More

Cited by 1 publication

References 46 publications

Attention and Biases: Evidence from Tax-Inattentive Investors

Attention and Biases: Evidence from Tax-Inattentive Investors

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