The Consumption Effects of the Disposition to Sell Winners and Hold Losers
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We use individual-level data on all security trades, holdings, spending, and income from an online retail bank. We study the effects of an exogenous change in the displayed purchase prices of the mutual funds in individuals portfolios. We find that individuals are more likely to sell what we call
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美国国家经济研究局创建时间：
2020-01-01
