Essays on the disposition effect in a social environment / Liêu Minh Lý

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This work combines three studies with the aim of investigating how social exposure influences investor behavior. Specifically, the first study answers the question of how an investor behaves upon receiving attention (like/comment) for the first time on their social trading network. The second study investigates the difference in the trading behaviors of investors when applying different frames to the social context. Specifically, we perform an experiment in which two methods of ranking transaction performance are used. The results show that in the two different ranking methods, the trading behavior of investors also changes in the direction of ensuring a high position in the ranking to protect themselves to build their self-images in front of the observations of other group members. The data of the second paper have been made publicly available as part of the open science movement. Finally, the third study focuses on the influence of personality traits on trading behavior in a social context.

Abstract

This work combines three studies with the aim of investigating how social exposure influences investor behavior. Specifically, the first study answers the question of how an investor behaves upon receiving attention (like/comment) for the first time on their social trading network. The second study investigates the difference in the trading behaviors of investors when applying different frames to the social context. Specifically, we perform an experiment in which two methods of ranking transaction performance are used. The results show that in the two different ranking methods, the trading behavior of investors also changes in the direction of ensuring a high position in the ranking to protect themselves to build their self-images in front of the observations of other group members. The data of the second paper have been made publicly available as part of the open science movement. Finally, the third study focuses on the influence of personality traits on trading behavior in a social context.

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