Professor Nicholas Barberis

Yale School of Management

Below, you can find:

[Contact information]
[Curriculum vitae]
[Research papers by date]
[Some recent talks]
[Yale summer school in behavioral finance]

Contact Information

[Telephone] 203-436-0777
[E-mail] nick.barberis AT yale.edu

[Regular mail]
Yale School of Management
135 Prospect Street, PO Box 208200
New Haven CT 06520-8200

[Courier mail]
Yale School of Management
135 Prospect Street
New Haven CT 06511

Curriculum Vitae

Click here for a recent curriculum vitae

Research Papers (by date)

The goal of much of my work is to build analytical foundations for behavioral finance, a large and active subfield of financial economics which studies the implications of less than fully rational behavior on the part of some market participants.

Working papers

"A Model of Casino Gambling", October 2009.

"Realization Utility" (with Wei Xiong), January 2010.

Survey papers

"The Loss Aversion / Narrow Framing Approach to the Equity Premium Puzzle" (with Ming Huang), Handbook of the Equity Risk Premium, R. Mehra ed., North Holland, Amsterdam, 2007.

"A Survey of Behavioral Finance" (with Richard Thaler), Handbook of the Economics of Finance, G. Constantinides, R. Stulz, M. Harris eds., North Holland, Amsterdam, 2003.

Research articles

"Preferences with Frames: A New Utility Specification that Allows for the Framing of Risks" (with Ming Huang), Journal of Economic Dynamics and Control 33, 1555-1576, August 2009.

"What Drives the Disposition Effect? An Analysis of a Long-standing Preference-based Explanation" (with Wei Xiong), Journal of Finance 64, 751-784, April 2009.

"Stocks as Lotteries: The Implications of Probability Weighting for Security Prices" (with Ming Huang), American Economic Review 98, 2066-2100, December 2008.

"Individual Preferences, Monetary Gambles, and Stock Market Participation: A Case for Narrow Framing" (with Ming Huang and Richard Thaler), American Economic Review 96, 1069-1090, September 2006.

"Comovement" (with Andrei Shleifer and Jeffrey Wurgler), Journal of Financial Economics 75, 283-317, February 2005.

"Style Investing" (with Andrei Shleifer), Journal of Financial Economics 68, 161-199, May 2003.

"Mental Accounting, Loss Aversion, and Individual Stock Returns" (with Ming Huang), Journal of Finance 56, 1247-1292, August 2001.

"Prospect Theory and Asset Prices" (with Ming Huang and Tano Santos), Quarterly Journal of Economics 116, 1-53, February 2001. Awarded the 2000 FAME Research Prize.

"Investing for the Long Run when Returns are Predictable", Journal of Finance 55, 225-264, February 2000. Awarded the 2000 Paul A. Samuelson Prize.

"A Model of Investor Sentiment" (with Andrei Shleifer and Robert Vishny), Journal of Financial Economics 49, 307-343, September 1998.

"How Does Privatization Work? Evidence from the Russian shops" (with Maxim Boycko, Andrei Shleifer, and Natalia Tsukanova), Journal of Political Economy 104, 764-790, August 1996.

Some Recent Talks

"Prospect Theory Applications in Finance" Guest lecture in Jeremy Stein's PhD Behavioral Finance course at Harvard, April 2007.

"Kahneman and Tversky meet finance: What have we learned?" Invited talk at the Behavioral Decision Research in Management (BDRM) conference, Los Angeles, June 2006.

Summer School

Bob Shiller and I ran a one-week summer school in behavioral finance at Yale in June 2009. The event went well and we expect to run it again at regular intervals. Click here to see the original application form.