Research
Research Interests
Research Interests
Asset Pricing, Macro-Finance, Behavioral Finance
Working Papers
Working Papers
Subjective Learning of Trading Talent: Theory and Evidence from Individual Investors in the U.S.
Subjective Learning of Trading Talent: Theory and Evidence from Individual Investors in the U.S.
I propose a model for subjective learning of trading talent, and match it to trading records data to explain disposition effect and investor attrition.
(Available here)
Return Volatility and Disposition Effect
Return Volatility and Disposition Effect
I exploit trading records data to identify the volatility effect on volume, and develop a portfolio choice model that predicts disposition effect.
(The paper may be available upon request)