Presentation Slides for 'Investor Psychology and Security Market Under and Overreactions'

@inproceedings{Daniel1998PresentationSF,
  title={Presentation Slides for 'Investor Psychology and Security Market Under and Overreactions'},
  author={K. Daniel and D. Hirshleifer and A. Subrahmanyam},
  year={1998}
}
  • K. Daniel, D. Hirshleifer, A. Subrahmanyam
  • Published 1998
  • Economics
  • We propose a theory of securities market under- and overreactions based on two well-known psychological biases: investor overconfidence about the precision of private information; and biased self-attribution, which causes asymmetric shifts in investors’ confidence as a function of their investment outcomes. We show that overconfidence implies negative long-lag autocorrelations, excess volatility, and, when managerial actions are correlated with stock mispricing, public-event-based return… CONTINUE READING
    3,654 Citations
    Overconfidence Bias, Trading Volume and Returns Volatility: Evidence from Pakistan
    • 8
    • PDF
    An empirical evaluation of the overconfidence hypothesis
    • 176
    • PDF

    References

    SHOWING 1-10 OF 163 REFERENCES