2020-02-01
Compulsive gambling in the financial markets: Evidence from two investor surveys
Publication
Publication
Journal of Banking & Finance , Volume 111
This study shows that a group of individual investors in the financial markets displays symptoms of compulsive gambling, or an addiction to trading, based on a standard diagnostic checklist from the American Psychiatric Association. In a representative sample of Dutch retail investors, we find that 4.4% of the investors meet the criteria for compulsive gambling in the financial markets. Another 3.6% meet the criteria for problem gambling, which is a less severe form of gambling disorder. Investors with symptoms of compulsive gambling problems tend to follow a more active and speculative trading style, indicated by a higher frequency of stock trading, day-trading and investing in derivatives and leveraged products.
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| doi.org/10.1016/j.jbankfin.2019.105709, hdl.handle.net/1765/122648 | |
| Journal of Banking & Finance | |
| Organisation | Erasmus University Rotterdam |
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Cox, R., Kamolsareeratana, A. (Atcha), & Kouwenberg, R. (2020). Compulsive gambling in the financial markets: Evidence from two investor surveys. Journal of Banking & Finance, 111. doi:10.1016/j.jbankfin.2019.105709 |
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