Publication: Compulsive gambling in the financial markets: Evidence from two investor surveys
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Issued Date
2020-02-01
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ISSN
03784266
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2-s2.0-85076144721
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Mahidol University
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SCOPUS
Bibliographic Citation
Journal of Banking and Finance. Vol.111, (2020)
Suggested Citation
Ruben Cox, Atcha Kamolsareeratana, Roy Kouwenberg Compulsive gambling in the financial markets: Evidence from two investor surveys. Journal of Banking and Finance. Vol.111, (2020). doi:10.1016/j.jbankfin.2019.105709 Retrieved from: https://repository.li.mahidol.ac.th/handle/123456789/49596
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Title
Compulsive gambling in the financial markets: Evidence from two investor surveys
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Abstract
© 2019 Elsevier B.V. This study shows that a group of individual investors in the financial markets displays symptoms of compulsive gambling, or an addiction to trading, based on a standard diagnostic checklist from the American Psychiatric Association. In a representative sample of Dutch retail investors, we find that 4.4% of the investors meet the criteria for compulsive gambling in the financial markets. Another 3.6% meet the criteria for problem gambling, which is a less severe form of gambling disorder. Investors with symptoms of compulsive gambling problems tend to follow a more active and speculative trading style, indicated by a higher frequency of stock trading, day-trading and investing in derivatives and leveraged products.