Hersh Shefrin
Abstract
Abstract Foreign exchange traders engage in excessive speculation. So, why do traders speculate so much? Is it because they trade on strongly held, but erroneous, opinions? The evidence suggests that this is the case, and that psychological issues figure prominently.
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Abstract Foreign exchange traders engage in excessive speculation. So, why do traders speculate so much? Is it because they trade on strongly held, but erroneous, opinions? The evidence suggests that this is the case, and that psychological issues figure prominently.
Key concepts: Speculation, Foreign exchange, Foreign exchange market, Economics, Monetary economics, International economics, Financial economics, Macroeconomics