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Behavioral Economics Commons

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Educational Assessment, Evaluation, and Research

Articles 1 - 16 of 16

Full-Text Articles in Behavioral Economics

Closed End Fund Discounts As Sentiment Indicies, Thomas Berry Dec 2005

Closed End Fund Discounts As Sentiment Indicies, Thomas Berry

Thomas D Berry

No abstract provided.


The Disposition Effect And Individual Investor Decisions: The Role Of Regret And Counterfactual Alternatives, Thomas Berry, Suzanne Fogel Dec 2005

The Disposition Effect And Individual Investor Decisions: The Role Of Regret And Counterfactual Alternatives, Thomas Berry, Suzanne Fogel

Thomas D Berry

Recent studies have documented a strong tendency for individual investors to delay realizing capital losses, while realizing gains prematurely (Odean [1996], Shefrin and Statman [1985], Weber and Camerer [1996]). This tendency has been termed the “disposition effect.” The disposition effect is inconsistent with normative approaches to stock sales, such as those based on tax losses (see, for example, Constantinides [1983]). We surveyed individual investors, and found that more respondents reported regret about holding on to a losing stock too long than about selling a winning stock too soon. This finding suggests that individual investors are consistently engaging in behavior that ...


Private Information And Market Movements: New Evidence From The Wednesday Closings Of 1968, Thomas Berry Dec 2004

Private Information And Market Movements: New Evidence From The Wednesday Closings Of 1968, Thomas Berry

Thomas D Berry

No abstract provided.


Public Information Arrival, Thomas Berry, Keith Howe Aug 1994

Public Information Arrival, Thomas Berry, Keith Howe

Thomas D Berry

The authors develop a measure of public information flow to financial markets and use it to document the patterns of information arrival, with an emphasis on the intraday flows. The measure is the number of news releases by Reuter's News Service per unit of time. The authors find that public information arrival is nonconstant, displaying seasonalities and distinct intraday patterns. Next they relate their measure of public information to aggregate measures of intraday market activity. The authors' results suggest a positive, moderate relationship between public information and trading volume but an insignificant relationship with price volatility. Copyright 1994 by ...


A Multi-State Analysis Of The Tjtc, Thomas Berry, Julia Lane Dec 1988

A Multi-State Analysis Of The Tjtc, Thomas Berry, Julia Lane

Thomas D Berry

No abstract provided.


Risk-Return And The Relative Pricing Of Darp, Thomas Berry, John Houston Dec 1987

Risk-Return And The Relative Pricing Of Darp, Thomas Berry, John Houston

Thomas D Berry

No abstract provided.


Some Guidelines For Assessing The Size Of Lack-Of-Marketability Discounts, Thomas Berry, Don Shannon Dec 1987

Some Guidelines For Assessing The Size Of Lack-Of-Marketability Discounts, Thomas Berry, Don Shannon

Thomas D Berry

No abstract provided.


A Survey Of Introductory Financial Managment Courses, Thomas Berry, Edward Farragher Dec 1985

A Survey Of Introductory Financial Managment Courses, Thomas Berry, Edward Farragher

Thomas D Berry

No abstract provided.


The Relationship Of Corporate Policy Decisions And Financial Leverage: An Empirical Analysis, Thomas Berry, John Houston Dec 1984

The Relationship Of Corporate Policy Decisions And Financial Leverage: An Empirical Analysis, Thomas Berry, John Houston

Thomas D Berry

No abstract provided.


The Impact Of Federal Tax Changes Of The Cost Of Debt For State And Local Governments, Thomas Berry, Edward Farragher Dec 1984

The Impact Of Federal Tax Changes Of The Cost Of Debt For State And Local Governments, Thomas Berry, Edward Farragher

Thomas D Berry

No abstract provided.


Fnma Mortgage Commitments As Put Options: An Empirical Examination, Thomas Berry, Adam Gehr Dec 1984

Fnma Mortgage Commitments As Put Options: An Empirical Examination, Thomas Berry, Adam Gehr

Thomas D Berry

The Federal National Mortgage Association (FNMA) auctions commitments to purchase mortgages. An examination of the terms of the commitment contract shows that these commitments are actually put options on mortgages. The contract is unusual, however, in that the price of the commitment is a fixed percentage of the value of the mortgages. In the auction, the dealers effectively bid the exercise price at which they would be willing to pay the fixed commitment price. In this paper, we study the economics of the FNMA auction. We use a two-state approximation to the American put pricing model for interest-dependent securities to ...


State Variation In The Targeted Jobs Tax Credit Program, Thomas Berry, Julie Lane Dec 1984

State Variation In The Targeted Jobs Tax Credit Program, Thomas Berry, Julie Lane

Thomas D Berry

No abstract provided.


A Short-Run Model Of Regional Housing Demand, Thomas Berry Dec 1983

A Short-Run Model Of Regional Housing Demand, Thomas Berry

Thomas D Berry

No abstract provided.


Fnma Auction Results As A Forecaster Of Residential Mortgage Yields, Thomas Berry, Adam Gehr Jan 1983

Fnma Auction Results As A Forecaster Of Residential Mortgage Yields, Thomas Berry, Adam Gehr

Thomas D Berry

No abstract provided.


An Alternative Methodology For Developing Certainty Equivalents, Thomas Berry, Bill Poppie Dec 1982

An Alternative Methodology For Developing Certainty Equivalents, Thomas Berry, Bill Poppie

Thomas D Berry

No abstract provided.


The Choice Of Money Market Fund, Thomas Berry Apr 1982

The Choice Of Money Market Fund, Thomas Berry

Thomas D Berry

No abstract provided.