This study analyzes the complete trading records, as well as the detailed individual-level survey responses of 76,172 retail investors to examine the relative importance of many factors that are associated with the disposition effect, which involves the tendency to take gains too early while holding on to losses. Feature selection techniques unveil that gender, loss aversion, and investor sophistication are the keys to grasping the disposition effect.

中文翻译：

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性格效应剖析：哪些因素最重要？

本研究分析了 76,172 名散户投资者的完整交易记录以及详细的个人层面调查答复，以检查与处置效应相关的许多因素的相对重要性，其中包括过早获利的倾向，同时持有到损失。特征选择技术揭示了性别、损失厌恶和投资者的成熟度是掌握处置效应的关键。