Duxbury, Darren; Hudson, Robert; Keasey, Kevin; Yang, Zhishu - In: Journal of International Financial Markets, … 34 (2015) C, pp. 55-68
and the house money effect; two behavioral biases premised on seemingly contradictory responses to prior gains/losses. We … prior outcomes across two dimensions; unrealized/realized and stock/portfolio level. Third, we find that the house money … effect moderates the disposition effect, suggesting that cognitive biases need not always have negative consequences. …