什么是“赌场赢利效应”
<p> 我们常说，太容易得到的东西往往不被珍惜。这句话用在投资领域，也是适用的。在股票市场和赌场里，不费吹灰之力得来的利润往往会让人更爱冒险。</p><p> </p><p> <span word="House">House</span> <span word="money">money</span> <span word="effect">effect</span> <span word="refers">refers</span> <span word="to">to</span> <span word="the">the</span> <span word="premise">premise</span> <span word="that">that</span> <span word="people">people</span> <span word="are">are</span> <span word="more">more</span> <span word="willing">willing</span> <span word="to">to</span> <span word="take">take</span> <span word="risks">risks</span> <span word="with">with</span> <span word="money">money</span> <span word="they">they</span> <span word="obtained">obtained</span> <span word="easily">easily</span> <span word="or">or</span> <span word="unexpectedly">unexpectedly</span>.</p><p> “赌场赢利效应”指人们拿着易来之财或者意外之财时更愿意采取一些冒险的投资方式。</p><p> <span word="Investors">Investors</span> <span word="who">who</span> <span word="have">have</span> <span word="experienced">experienced</span> <span word="a">a</span> <span word="gain">gain</span> <span word="or">or</span> <span word="profit">profit</span> <span word="are">are</span> <span word="often">often</span> <span word="willing">willing</span> <span word="to">to</span> <span word="take">take</span> <span word="more">more</span> <span word="risk">risk</span>. <span word="Gamblers">Gamblers</span> <span word="call">call</span> <span word="this">this</span> “<span word="playing">playing</span> <span word="with">with</span> <span word="the">the</span> <span word="house">house</span>’<span word="s">s</span> <span word="money">money</span>.” <span word="Since">Since</span> <span word="they">they</span> <span word="don">don</span>’<span word="t">t</span> <span word="yet">yet</span> <span word="consider">consider</span> <span word="the">the</span> <span word="money">money</span> <span word="to">to</span> <span word="be">be</span> <span word="their">their</span> <span word="own">own</span>, <span word="they">they</span> <span word="are">are</span> <span word="willing">willing</span> <span word="to">to</span> <span word="take">take</span> <span word="more">more</span> <span word="risk">risk</span> <span word="with">with</span> <span word="it">it</span>.</p><p> 已经有所收益的投资者通常都愿意继续冒险。赌徒们管这叫“玩赌场的钱”。因为他们还没有把刚刚赢得的钱当成自己的钱，所以愿意拿这些钱冒更多的险。</p><p> <span word="The">The</span> <span word="house">house</span> <span word="money">money</span> <span word="effect">effect</span> <span word="predicts">predicts</span> <span word="investors">investors</span> <span word="will">will</span> <span word="be">be</span> <span word="more">more</span> <span word="likely">likely</span> <span word="to">to</span> <span word="purchase">purchase</span> <span word="risky">risky</span> <span word="stocks">stocks</span> <span word="after">after</span> <span word="closing">closing</span> <span word="out">out</span> <span word="a">a</span> <span word="profitable">profitable</span> <span word="trade">trade</span>. <span word="Behavioral">Behavioral</span> <span word="finance">finance</span> <span word="theory">theory</span> <span word="suggests">suggests</span> <span word="that">that</span> <span word="overcoming">overcoming</span> <span word="this">this</span> <span word="bias">bias</span> <span word="may">may</span> <span word="help">help</span> <span word="investors">investors</span> <span word="profit">profit</span> <span word="more">more</span> <span word="over">over</span> <span word="the">the</span> <span word="long">long</span> <span word="term">term</span>.</p><p> 从这一效应可以预知，投资者从上一笔交易中获利后更倾向于购买一些冒险型的股票。行为金融理论提示，克服这种心理可以帮助投资者长期获利。</p>
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