Rationalizing Trading Frequency and Returns

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dc.contributor.author BONAPARTE, Yosef
dc.contributor.author COOPER, Russell
dc.date.accessioned 2010-05-25T08:44:10Z
dc.date.available 2010-05-25T08:44:10Z
dc.date.issued 2010
dc.identifier.issn 1725-6704
dc.identifier.uri http://hdl.handle.net/1814/14058
dc.description.abstract Barber and Odean (2000) study the relationship between trading frequency and returns. They find that households who trade more frequently have a lower net return than other households. But all households have about the same gross return. They argue that these results cannot emerge from a model with rational traders and instead attribute these findings to overconfidence. Using a dynamic optimization approach, we find that neither a model with rational agents facing adjustment costs nor various models of overconfidence fit these facts. en
dc.language.iso en en
dc.relation.ispartofseries EUI ECO en
dc.relation.ispartofseries 2010/25 en
dc.title Rationalizing Trading Frequency and Returns en
dc.type Working Paper en
dc.neeo.contributor BONAPARTE|Yosef|aut|
dc.neeo.contributor COOPER|Russell|aut|
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