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Salience and the Disposition Effect: Evidence from the Introduction of 'Cash-Outs' in Betting Markets.

The disposition effect describes the tendency of investors to sell assets that have increased in value since purchase, and hold those that have not. We analyze the introduction of betting market 'Cash-Outs,' which provide a continual update-and therefore increase the salience-of bettors' paper profi...

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Published in:Southern Economic Journal Vol. 83; no. 4; pp. 1052 - 1074
Main Authors: Brown, Alasdair, Yang, Fuyu
Format: Article
Published: Wiley-Blackwell Apr2017
Subjects:
Investors
Prices
Businesspeople
Gambling
Aleatory contracts
Online Access:View this record in EBSCOhost