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prospect theory

I follow a disciplined approach to investing. When a stock has appreciated by 15 percent, I sell it. Also, I sell a stock when its price has declined by 25 percent from my initial purchase price.”

The client of Statement 6 is behaving consistently with behavioral portfolio theory. The client sells and holds a stock not because of the stock’s potential, but rather from a fear of the stock declining in value and gains dissipating and an aversion to realizing losses. Loss-aversion in prospect theory is discussed from a different perspective.

为什么这个不是prosepct theory?

而下一个问题又是prospect theory

嗨，从没放弃的小努力你好：

同学第一张截图的题目来源，是 R7 的课后题第 5 题，第二张截图的题目来源，是押题班讲义 R7 的 2.1 题；建议同学针对题目的话，请附上题目来源

这两道题目，最大的区别，就是亏损的区间不同：课后题是亏损 25%，押题是亏损 5%

这道题的关键，不是「单独」分析盈利和亏损的区间，而是要「对比」两个区间

loss aversion, 也就是prospect theory 的 value function，loss 的部分比 gain 的部分更陡。因此，当给投资者带来相同 value 的时候，gain (|15%|) > loss (|-5%|)，而不是 gain (|15%|) < loss (|-25%|)

如下图，当 y 轴上相同都是 |c| 的时候，gain 在 x 轴上对应的 |a| 要比 loss 对应的 |b| 更大

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努力的时光都是限量版，加油！

prospect theory

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