An investor who is prepared to wait a long time before evaluating the outcome of the investment as a gain or a loss will find [stocks] more attractive than another investor (equally loss averse, but more myopic) who expects to evaluate the outcome soon.[1]
[1] Richard
H. Thaler, Amos Tversky, Daniel Kahneman, Alan Schwart, The Effect of Myopia And Loss Aversion on
Risk Taking, The Quarterly Journal of Economics (1997). 649.
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