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Financial Analysts Journal Volume 58, 2002 - Issue 1
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PERSPECTIVES

Lottery Players/Stock Traders

Meir Statman Meir Statman is Glenn Klimek Professor at the Leavey School of Business, Santa Clara University, California.
Pages 14-21 | Published online: 02 Jan 2019

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Tingting Zhang, Mengyao Song, Kaixin Li & Zhifeng Liu. (2021) Lottery preference and stock market return: Chinese evidence using daily and provincial data. Applied Economics Letters 28:18, pages 1582-1588.
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Margarida Abreu & Victor Mendes. (2020) Do individual investors trade differently in different financial markets?. The European Journal of Finance 26:13, pages 1253-1270.
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Guojin Chen, Jie Ding & Xiangqin Zhao. (2019) A lottery-preference-based explanation of realized kurtosis puzzle in Chinese stock market. Applied Economics 51:50, pages 5466-5481.
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Hwai-Chung Ho, Shih-Chin Lee & Hsiou-wei Lin. (2019) Modelling of how lotto players select their number combinations dynamically. International Gambling Studies 19:2, pages 200-219.
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Richard Taffler. (2018) Emotional finance: investment and the unconscious. The European Journal of Finance 24:7-8, pages 630-653.
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ArvidO. I. Hoffmann & E. Tobias S. Fischer. (2012) Behavioral Aspects of Covered Call Writing: An Empirical Investigation. Journal of Behavioral Finance 13:1, pages 66-79.
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Clifford S. Asness. (2005) Rubble Logic: What Did We Learn from the Great Stock Market Bubble?. Financial Analysts Journal 61:6, pages 36-54.
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Meir Statman. (2004) The Diversification Puzzle. Financial Analysts Journal 60:4, pages 44-53.
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Tingting Liu & Danni Tu. (2022) Earnings Growth and Acquisition Returns: Do Investors Gamble in the Takeover Market?. Journal of Financial and Quantitative Analysis 58:3, pages 1326-1358.
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Andreas Oehler & Julian Schneider. (2022) Social trading: do signal providers trigger gambling?. Review of Managerial Science 17:4, pages 1269-1331.
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Tingting Zhang, Desheng Wei, Zhifeng Liu & Xihao Wu. (2021) Lottery preference and stock market participation: evidence from China. China Finance Review International 13:1, pages 46-62.
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Atcha Kamolsareeratana & Roy Kouwenberg. (2023) Compulsive Gambling in the Stock Market: Evidence from an Emerging Market. Economies 11:1, pages 28.
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Uibin Lee, Lauren E. Lewis & Devin J. Mills. (2023) Association between gambling and financial trading: A systemic review.. F1000Research 12, pages 111.
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Andreas Oehler & Julian Schneider. (2022) Gambling with lottery stocks?. Journal of Asset Management 23:6, pages 477-503.
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Jing Qiu & Ni Yang. (2022) Rational catering of irrational emotions: Investor sentiment and executive tone. Frontiers in Psychology 13.
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Eran Rubin & Amir Rubin. (2021) On the economic effects of the text completion interface: empirical analysis of financial markets. Electronic Markets 31:3, pages 717-735.
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Xuesong Shang, Hebing Duan & Jingyi Lu. (2021) Gambling versus investment: Lay theory and loss aversion. Journal of Economic Psychology 84, pages 102367.
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Pu Gong, Zhuzhu Wen, Xiong Xiong & Cynthia M. Gong. (2021) When do investors gamble in the stock market?. International Review of Financial Analysis 74, pages 101712.
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Dallin M. Alldredge. (2020) Institutional trading, investor sentiment, and lottery‐like stock preferences. Financial Review 55:4, pages 603-624.
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Ruben Cox, Atcha Kamolsareeratana & Roy Kouwenberg. (2020) Compulsive gambling in the financial markets: Evidence from two investor surveys. Journal of Banking & Finance 111, pages 105709.
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Yun Meng & Christos Pantzalis. (2018) Monthly cyclicality in retail Investors’ liquidity and lottery-type stocks at the turn of the month. Journal of Banking & Finance 88, pages 176-191.
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Benjamin M. Blau, T. Boone Bowles & Ryan J. Whitby. (2016) Gambling Preferences, Options Markets, and Volatility. Journal of Financial and Quantitative Analysis 51:2, pages 515-540.
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Ann Shawing Yang. (2016) Sentimental relationships between lottery participation and household consumption. Asia Pacific Management Review 21:1, pages 38-47.
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James S. Doran, Danling Jiang & David R. Peterson. (2012) Gambling Preference and the New Year Effect of Assets with Lottery Features*. Review of Finance 16:3, pages 685-731.
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Priya Raghubir & Sanjiv R. Das. (2010) The Long and Short of It: Why Are Stocks with Shorter Runs Preferred?. Journal of Consumer Research 36:6, pages 964-982.
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ALOK KUMAR. (2009) Who Gambles in the Stock Market?. The Journal of Finance 64:4, pages 1889-1933.
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Daniel Dorn & Paul Sengmueller. (2009) Trading as Entertainment?. Management Science 55:4, pages 591-603.
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Shu-Heng Chen & Bin-Tzong Chie. (2008) Lottery markets design, micro-structure, and macro-behavior: An ACE approach. Journal of Economic Behavior & Organization 67:2, pages 463-480.
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Yu Liang & Weiqiang Zhang. (2016) Do Investors Buy Lotteries in China's Stock Market?. SSRN Electronic Journal.
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