Research
Interests
Corporate Finance
Behavioral Economics, Behavioral Finance
Economics of Organizations, Contract Theory
Law and Economics, Law and Finance
Publications and
Forthcoming Papers
- Exposure to
Grocery Prices and Inflation Expectations (with F. D'Acunto, J. Ospina and M. Weber).
Journal of Political Economy, forthcoming.
- Behavioral
Corporate Finance: Life Cycle of a CEO Career
(with M. Guenzel),
In: Oxford Research Encyclopedia of Economics and
Finance, Oxford University Press, September 2020.
- The Making of
Hawks and Doves: Inflation Experiences on the FOMC (with S. Nagel and Z. Yan).
Journal of Monetary Economics, forthcoming.
- Fishing for Fools
(with A. Szeidl).
Games and Economic Behavior,
July 2020, vol. 122, pp. 105-129.
- Investor Experiences
and Financial Market Dynamics (with D. Pouzo and V. Vanasco).
Journal of Financial Economics, June 2020, vol. 136, pp. 597-622.
- Investor
Experiences and International Capital Flows
(with D. Pouzo and V. Vanasco).
Journal of International Economics, May 2020, vol. 124.
- Emotional
Tagging and Belief Formation - The Long-Lasting Effects of Experiencing Communism
(with C. Laundenbach and Niessen-Ruenzi),
AEA Papers & Proceedings, May 2019, vol. 109, pp. 567-571.
- Behavioral
Corporate Finance.
In: D. Bernheim, S. DellaVigna, and D. Laibson (eds.),
Handbook of Behavioral Economics, Volume 1, Elsevier, October 2018.
- Winning by
Losing: Evidence on Overbidding in Mergers (with E. Moretti and F. Peters).
Review of Financial Studies, August 2018, vol. 31(8), pp. 3212-64.
- You
Owe Me (with K. Schmidt).
Online Appendix
American Economic Review, February 2017, vol. 107(2), pp. 493-526.
- Voting to Tell Others
(with S. DellaVigna, J. List and G. Rao).
Review of Economic Studies, January 2017, vol. 84(1), pp. 143-181.
- Learning from Inflation Experiences
(with S. Nagel).
Quarterly Journal of Economics, February 2016, vol. 131(1), pp. 53-87.
- Target revaluation after failed
takeover attempts: Cash versus stock (with M. Opp and F. Saidi).
Journal of
Financial Economics, January 2016, issue number, (1): vol. 119(1), pp. 92-106.
- On the Verges of
Overconfidence (with T. Taylor).
Journal of Economic Perspectives, Fall 2015, vol. 29(4), pp. 3-8.
- Behavioral CEOs:
On the Role of Managerial Overconfidence (with G. Tate).
Journal of Economic Perspectives, Fall 2015, vol. 29(4), pp. 37-60.
- Does
a Bank's History Affect Its Risk-Taking (with C. Bouwman).
American Economic Review: Papers & Proceedings, May 2015, vol. 105(5), pp. 321-325.
- Rethinking
Reciprocity (with V. te Velde and R. Weber).
Annual Review of Economics, August 2014, vol. 6, pp. 849-874.
- Do Security Analysts Speak in Two Tongues? (with D. Shanthikumar).
Review of Financial Studies, May 2014, vol. 27(5), pp. 1287-1322.
(Lead article.)
- With a
Little Help from My (Random) Friends: Success and Failure in
Post-Business School Entrepreneurship (with J. Lerner).
Review of Financial Studies, October 2013, vol. 26(10), pp. 2411-52.
(Lead Article)
- The
Importance of Being Marginal: Gender Differences in Generosity
(with S. DellaVigna, J. List, and G. Rao).
American Economic Review: Papers & Proceedings, May 2013, vol. 103(3), pp. 586-90.
- Testing for Altruism and
Social Pressure in Charitable Giving
(with S. DellaVigna and J. List).
Quarterly
Journal of Economics, February 2012, vol. 127(1), pp. 1-56. (Lead article.).
- Sorting in Experiments with Application to Social Preferences
(with E. Lazear and R. Weber).
American Economic Journal: Applied
Economics, January 2012, vol. 4(1), pp.136-163.
Extended version with further experimental results in
"Sorting, Prices, and Social
Preferences", NBER Working Paper 12041.
-
Societas
In: R. Bagnall, K. Brodersen, C. Champion, A. Erskine, and S. Hübner (eds),
Encyclopedia of Ancient History, Wiley-Blackwell Press, January 2012.
-
Publicani
In: R. Bagnall, K. Brodersen, C. Champion, A. Erskine, and S. Hübner (eds),
Encyclopedia of Ancient History, Wiley-Blackwell Press, January 2012.
-
Review of Peter Fibinger Bank, The Roman bazaar. A comparative study of
trade and markets in a tributary empire
EH.net (Economic History
Association), October 2011.
-
Overconfidence and Early-life Experiences: The Effect of Managerial
Traits on Corporate Financial Policies (with G. Tate and J.
Yan).
Online Appendix
Journal of Finance, October 2011, vol. 66(5), pp.1687-1733.
- The Role of Theory in Field Experiments
(with D. Card and S. DellaVigna).
Journal of Economic Perspectives, Summer 2011, vol. 24(3).
- The Bidder's Curse (with H. Lee).
Online Appendix
American Economic Review, April 2011, vol. 101(2), pp. 749-787.
- Depression
Babies: Do Macroeconomic Experiences Affect Risk-Taking?
(with S. Nagel).
Online Appendix
Quarterly Journal of Economics, February 2011, vol. 126(1), pp. 373-416.
- Contractibility
and the Design of Research Agreements (with J. Lerner).
Online Appendix
American Economic Review, March 2010, vol. 100(1), pp. 214-246.
- Roman Law and the Law-and-Finance Debate.
In: I. Reichard and M. Schermaier (eds.), Festschrift fuer Rolf Knuetel. Boehlau Verlag, January 2010.
- Law and
Finance at the Origin.
Journal of Economic Literature, December 2009, vol. 47(4), pp. 1076-1108.
-
Superstar CEOs (with G. Tate).
Online Appendix
Quarterly Journal of Economics, November 2009, vol. 124(4), pp. 1593-1638.
- Who
Makes Acquisitions? CEO Overconfidence and the Market's Reaction (with G. Tate).
Journal of Financial Economics, July 2008, vol. 89(1), pp.
20-43.
-
Financial Expertise of Directors
(with B. Guner and G. Tate). Journal of Financial Economics, May 2008,
vol. 88(2), pp. 323-354.
-
Are Small Investors
Naive about Incentives? (with D. Shanthikumar).
Journal of Financial Economics, August 2007, vol. 85 (2), pp. 457-489.
-
Behavioral
Economics of Organizations (with C. Camerer).
In: P. Diamond and H. Vartiainen (eds.), Behavioral Economics and Its Applications,
Princeton University Press, March 2007.
-
Paying Not to Go to the Gym (with S. DellaVigna).
American Economic Review, June 2006, vol. 96 (3), pp. 694-719.
(Older version with extensive model: Stanford GSB Research Paper
1880. October 2002.)
-
CEO Overconfidence and Corporate Investment (with
G. Tate).
Journal of
Finance, December 2005, vol. 60 (6), pp. 2661-2700.
-
Does Overconfidence Affect
Corporate Investment? CEO Overconfidence Measures Revisited
(with G. Tate). European Financial Management, November 2005,
vol. 11(5), pp. 649-659.
-
Roman Shares.
In: W. Goetzmann and G. Rouwenhorst (eds.), The Origins of Value. The
Financial Innovations that Created Modern Capital Markets. Oxford University Press,
August 2005, pp. 31-42, 361-365.
-
Contract Design and Self-Control: Theory and Evidence
(with
S. DellaVigna).
Quarterly Journal of Economics, May 2004, vol. 119(2), pp. 353-402. (Lead article.)
-
Societas
publicanorum.
Böhlau Verlag,
Cologne/Vienna 2002, ca. 353 pages, ISDN 3-412-12201-7.
-
The
Origins of the Corporation in Ancient Rome.
(Book in preparation for publication at Yale University Press.)
-
De foeminis iuris
prudentia inbutis (with R. Knütel).
In: Wolfgang Schön (ed.), Gedächtnisschrift für
Knobbe-Keuk, Cologne 1997, pp. 861-877.
Working
Papers
- Estimating
Social Preferences and Gift Exchange with a Piece-Rate Design (with S. DellaVigna,
J. List, and G. Rao),
June 2019
Revise & resubmit at American Economic Review.
- Gender
Roles and the Gender Expectations Gap
(with F. D'Acunto and M. Weber), February 2020.
- Scarred Consumption
(with L. Sheng), August 2019.
- Managerial
Duties and Managerial Biases (with V. Pezone and H. Zheng), June 2019.
Online Appendix.
- M&A
Negotiations and Lawyer Expertise
(with C. Karsten and Z. Sautner), July 2019.
- Homeownership and the American Dream -- An Analysis of Intergenerational Mobility
Effects (with N. Kulkarni), March 2015.
- Rent or Buy? The Role of Lifetime Experiences of Macroeconomic Shocks within
and across Countries (with A. Steiny), December 2016.
- The Long Shadows of the Great Inflation: Evidence from Residential Mortgages
(with M. Botsch), February 2020.
- The Long-lasting Effects of
Experiencing Communism on Attitudes towards Financial Markets (with C. Laudenbach
and A. Niessen-Ruenzi),
August 2019.
- CEO Stress,
Aging and Death (with M. Borgschulte, M. Guenzel and C. Liu),
July 2020.
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