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Dynamic Trading with Realization Utility

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NBER2022-03-01 更新2025-01-04 收录
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An investor receives utility bursts from realizing gains and losses at the individual-stock level (Barberis and Xiong, 2009, 2012; Ingersoll and Jin, 2013) and dynamically allocates his mental budget between risky and risk-free assets at the trading-account level. Using savings, he reduces his

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2022-03-01
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