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paper investigates characteristics of lottery-type stocks and individuals' gambling preference in China's stock market … features in China's stock market. Further, we find that individual investors exhibit a stronger gambling preference in the bull …Motivated by existing evidence of individual investors' gambling preference in U.S. stock market (Kumar, 2009), this …
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Previous studies document a relationship between gambling at the aggregate level and investments in securities with … lottery-like features. We combine data on individual gambling consumption with portfolio holdings and trading records to … examine whether gambling and trading act as substitutes or complements. We find that gamblers are more likely than average to …
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