標題: What do individual traders of TAIEX futures learn from their trading activities?
是否台指期貨交易者能從交易中學習?
作者: Mei-Chen Lin
Kwang-Li Yang
關鍵字: Experience;;Learning;;Performance
公開日期: 1-十二月-2016
出版社: 交通大學
National Chiao Tung University
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.
URI: http://hdl.handle.net/11536/137150
ISSN: 1028-7319
期刊: 交大管理學報
Chiao Da Mangement Review
Volume: 36
Issue: 2
起始頁: 31
結束頁: 64
顯示於類別:交大管理學報


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