老师好，可以分别解释一下三个选项吗？谢谢。

问题如下：

The behavioral bias in which investors tend to avoid realizing losses but rather seek to realize gains is best described as:

选项：

A.mental accounting. B.the gambler’s fallacy. C.the disposition effect.

解释：

Solution

1. Incorrect. The disposition effect is a behavioral bias in which investors tend to avoid realizing losses but rather seek to realize gains.

2. Incorrect. The gambler’s fallacy is a behavioral bias in which recent outcomes affect investors’ estimates of future probabilities.

3. Correct. Behavioral biases in which investors tend to avoid realizing losses but rather seek to realize gains is the disposition effect.

Market Efficiency

• describe behavioral finance and its potential relevance to understanding market anomalies