篇名 | What do individual traders of TAIEX futures learn from their trading activities? |
---|---|
並列篇名 | 是否台指期貨交易者能從交易中學習? |
作者 | Mei-Chen Lin |
英文摘要 | This study analyzes what individual traders who engage in TAIEX futures learn from their trading with data covering all TAEIX futures contracts between January 2004 and December 2008. We use a semi-parametric regression model and a Cox proportional hazard rate model for data analysis and find that losing traders stop trading actively after realizing their poor ability of trading, thus supporting the rational learning model. However, traders’ performance does not improve until they have enough trading experience. This finding indicates that traders have limited rationality and that the speed of learning from trading is irritatingly slow |
起訖頁 | 31-64 |
關鍵詞 | Experience、Learning、Performance |
刊名 | 陽明交大管理學報 |
出版單位 | 陽明交通大學管理學院(原:交通大學管理學院) |
期數 | 201612 (36:2期) |
DOI | 10.3966/102873102016123602002 複製DOI DOI申請 |
QRCode | |