问题如下:
A client says: I have my own investment strategy, which proves to outperform most investors' strategies: I sell a stock when its price goes up by 10% or when its price goes down by 5%. The client most likely exhibit:
选项:
A.prospect theory
B.expected utility theory
C.mental accounting bias
解释:
A is correct.
考点:prospect theory
解析:在传统金融学中,投资者是理性的,因此对于价格涨和跌的态度是对称的,那么他会在价格涨过10%、或者价格跌破10%卖出。但是这个投资者选择在跌破5%的时候卖,说明loss对他的影响更大。在prospect theory中,人们?对价格涨和跌的态度是不对称的,在loss的部分更陡,所以最符合这位投资者的描述。
预期理论应该是涨5%卖掉,跌10%卖掉吧,这才是loss aversion表现吧?文中说的是涨10%跌5%卖掉,实在不解