Behavioral Biases Among Professional Traders

Based on proprietary S&P; 500 futures trading records of professional traders, I investigate the loss-aversion, break-even, lock-in, and house-money effects. Unlike previous studies that find evidence of either loss aversion or the house-money effect, I find no consistent evidence supporting the impact of behavioral biases on professional traders. Furthermore, I examine the relation between trading experience and behavioral biases. Unlike for individual traders, I found no link between trading experience and behavioral biases among professional traders.

Author

• Han, Jaehyun

Language

• en

Keyword

• Lock in Effect
• Professional Traders
• House Money Effect
• Loss Aversion
• Break Even Effect
• Behavioral Biases

Date created

• 2011

Type of Work

• Dissertation

License

• All rights reserved

Rights statement

• In Copyright

GW Unit

• Finance

Degree

• Ph.D.

Advisor

• Savickas, Robert

Committee Member(s)

• Wilson, Arthur J.
• Klock, Mark S.
• Hwang, Min
• Soyer, Refik

Persistent URL

•  https://scholarspace.library.gwu.edu/etd/wd375w45k