Publication:
Waning vigilance and the disposition effect: Evidence from Thailand on individual investor decision making

Issued Date

2010-01-01

Resource Type

Article

ISSN

10535357

DOI

10.1016/j.socec.2009.08.001

Other identifier(s)

2-s2.0-70849127578

Rights

Mahidol University

Rights Holder(s)

SCOPUS

Bibliographic Citation

Journal of Socio-Economics. Vol.39, No.1 (2010), 18-23

Suggested Citation

Mark A. DeWeaver, Randall Shannon Waning vigilance and the disposition effect: Evidence from Thailand on individual investor decision making. Journal of Socio-Economics. Vol.39, No.1 (2010), 18-23. doi:10.1016/j.socec.2009.08.001 Retrieved from: https://repository.li.mahidol.ac.th/handle/123456789/29050

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Title

Waning vigilance and the disposition effect: Evidence from Thailand on individual investor decision making

Author(s)

Mark A. DeWeaver
 Randall Shannon

Other Contributor(s)

Quantrarian Capital Management, LLC
 Mahidol University

Abstract

We argue that existing explanations for the stock-market investor's disposition to "ride losers too long" are unsatisfactory because they abstract from any role for information processing. We propose instead that the disposition effect is a special case of "waning vigilance:" investors pay less attention to new information and analysis when making decisions about loss makers and are therefore slower to sell them when arguments in favor of holding cease to be valid. Results from a Thai individual investor survey are presented as empirical evidence in support of the hypothesis that vigilance is reduced following losses. © 2009 Elsevier Inc. All rights reserved.

Keyword(s)

Economics, Econometrics and Finance

Availability

URI

https://repository.li.mahidol.ac.th/handle/123456789/29050

Collections

Scopus 2006-2010