Academic focus: Behavioral finance, asset prices in financial markets, neuroeconomics, and household finance.
Research summary: My research focuses on understanding the role of less than fully rational decision-making in financial markets. Specifically, I develop models that feature incorrect beliefs or nontraditional preferences on the part of some investors, and I use these models to explain market price movements, financial crises and real-world investors’ trading behavior. Moreover, I study neuroscientific models to better understand the microfoundations of less than fully rational decision-making.
What do you like to do when you’re not working?
I very much enjoy running, swimming, tennis and gardening. I also like traveling across the globe.
What are three adjectives people might use to describe you?
Analytical, perceptive, careful
What (specifically) brought you to Cornell CALS?
Cornell CALS has a strong tradition of behavioral and interdisciplinary research, and it offers a lot of opportunities for faculty and students to turn classroom knowledge into building a better world.
What do you think is important for people to understand about your field?
The emergence of behavioral finance is one of the biggest conceptual developments in financial economics over the past 40 years, producing three Nobel laureates. Understanding less than fully rational decision-making is the first step toward helping people make better investment and saving decisions.
Why did you feel inspired to pursue a career in this field?
I was a trading analyst on Wall Street during the financial crisis of 2007-08. This turbulent episode made me realize that we have rather limited knowledge about investor behavior in financial markets. And it sparked my interest in conducting research in behavioral and household finance. I am also very grateful for the opportunity to educate younger generations and make a positive impact on their lives. The long-term goal of my career is to help investors make better decisions based on what we have learned in behavioral and household finance.
What’s the most surprising/interesting thing you’ve discovered about Cornell and/or Ithaca so far?
I spent seven years in California prior to joining Cornell. With a lot of rain here in Ithaca, it is quite easy to see rainbows. And this is amazing!
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