| Budget Amount *help |
¥2,990,000 (Direct Cost: ¥2,300,000、Indirect Cost: ¥690,000)
Fiscal Year 2013: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2012: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2011: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
|
|---|
| Research Abstract |
In financial markets,individual investors usually show two propensities,one is the preference to gamble and another is the disposition effect which means investors sell ones that have gained value(winners) and keep ones that have lost value(losers).Using a unique data set of individual investor's accounts at a China's big broker during January 2003 to August 2006, I find that in China both o the two propensities are very strong and the preference of gambling tends to weaken the disposition effect.
|
