All Stories

  1. How to Write an Effective Referee Report and Improve the Scientific Review Process

    Article • Journal of Economic Perspectives, February 2017, American Economic Association

    Professor David Hirshleifer

  2. Superstition and Financial Decision Making

    Article • Management Science, November 2016, INFORMS

    Professor David Hirshleifer

  3. Overconfident Investors, Predictable Returns, and Excessive Trading

    Article • January 2016, National Bureau of Economic Research

    Professor David Hirshleifer

  4. Behavioral Finance

    Article • Annual Review of Financial Economics, December 2015, Annual Reviews

    Professor David Hirshleifer

  5. Asset pricing in production economies with extrapolative expectations

    Article • Journal of Monetary Economics, November 2015, Elsevier

    Professor David Hirshleifer

  6. Overconfident Investors, Predictable Returns, and Excessive Trading

    Article • Journal of Economic Perspectives, November 2015, American Economic Association

    Professor David Hirshleifer

  7. Cosmetic Surgery in the Academic Review Process

    Article • Review of Financial Studies, December 2014, Oxford University Press (OUP)

    Professor David Hirshleifer

  8. Joint Editorial

    Article • Journal of Financial Economics, November 2013, Elsevier

    Professor David Hirshleifer

  9. Joint Editorial

    Article • Review of Financial Studies, October 2013, Oxford University Press (OUP)

    Professor David Hirshleifer

  10. Innovative efficiency and stock returns

    Article • Journal of Financial Economics, March 2013, Elsevier

    Professor David Hirshleifer

  11. Overvalued Equity and Financing Decisions

    Article • Review of Financial Studies, October 2012, Oxford University Press (OUP)

    Professor David Hirshleifer

  12. Firms with overconfident CEOs innovate more and do it more successfully

    Article • The Journal of Finance, July 2012, Wiley

    Professor David Hirshleifer

  13. Are Investors Really Reluctant to Realize Their Losses? Trading Responses to Past Returns and the Disposition Effect

    Article • Review of Financial Studies, July 2012, Oxford University Press (OUP)

    Professor David Hirshleifer

  14. The Accrual Anomaly: Risk or Mispricing?

    Article • Management Science, February 2012, INFORMS

    Professor David Hirshleifer

  15. Psychological Influences on Financial Regulation and Policy

    Article • November 2011, Wiley

    Professor David Hirshleifer

  16. Limited Investor Attention and Stock Market Misreactions to Accounting Information

    Article • The Review of Asset Pricing Studies, July 2011, Oxford University Press (OUP)

    Professor David Hirshleifer

  17. Taking the road less traveled by: Does conversation eradicate pernicious cascades?

    Article • Journal of Economic Theory, July 2011, Elsevier

    Professor David Hirshleifer

  18. Short Arbitrage, Return Asymmetry, and the Accrual Anomaly

    Article • Review of Financial Studies, April 2011, Oxford University Press (OUP)

    Professor David Hirshleifer

  19. Do Investors Learn from Experience? Evidence from Frequent IPO Investors

    Article • Review of Financial Studies, March 2011, Oxford University Press (OUP)

    Professor David Hirshleifer

  20. Investor Overconfidence and the Forward Premium Puzzle

    Article • The Review of Economic Studies, February 2011, Oxford University Press (OUP)

    Professor David Hirshleifer

  21. A Financing-Based Misvaluation Factor and the Cross-Section of Expected Returns

    Article • Review of Financial Studies, August 2010, Oxford University Press (OUP)

    Professor David Hirshleifer, Dr. Danling Jiang

  22. A cross-cultural study of reference point adaptation: Evidence from China, Korea, and the US

    Article • Organizational Behavior and Human Decision Processes, July 2010, Elsevier

    Professor David Hirshleifer, Dr. Danling Jiang

  23. Investor Overconfidence and the Forward Premium Puzzle

    Article • April 2010, National Bureau of Economic Research

    Professor David Hirshleifer

  24. The Psychological Attraction Approach to Accounting and Disclosure Policy

    Article • Contemporary Accounting Research, November 2009, Wiley

    Professor David Hirshleifer

  25. Fear of the Unknown: Familiarity and Economic Decisions

    Article • Review of Finance, November 2009, Oxford University Press (OUP)

    Professor David Hirshleifer

  26. Driven to Distraction: Extraneous Events and Underreaction to Earnings News

    Article • The Journal of Finance, September 2009, Wiley

    Professor David Hirshleifer

  27. Systemic risk, coordination failures, and preparedness externalities

    Article • Journal of Financial Economic Policy, May 2009, Emerald

    Professor David Hirshleifer

  28. Accruals, cash flows, and aggregate stock returns☆

    Article • Journal of Financial Economics, March 2009, Elsevier

    Professor David Hirshleifer

  29. Richard A. Lanham, The Economics of Attention: Style and Substance in the Age of Information

    Article • Journal of Bioeconomics, February 2009, Springer Science + Business Media

    Professor David Hirshleifer

  30. Thought and Behavior Contagion in Capital Markets

    Article • January 2009, Elsevier

    Professor David Hirshleifer

  31. Psychological Bias as a Driver of Financial Regulation

    Article • European Financial Management, November 2008, Wiley

    Professor David Hirshleifer

  32. Do Individual Investors Cause Post-Earnings Announcement Drift? Direct Evidence from Personal Trades

    Article • The Accounting Review, November 2008, American Accounting Association

    Professor David Hirshleifer

  33. Promotion Tournaments and Capital Rationing

    Article • Review of Financial Studies, October 2008, Oxford University Press (OUP)

    Professor David Hirshleifer

  34. Information Cascades

    Article • January 2008, Nature

    Professor David Hirshleifer

  35. Reference point adaptation: Tests in the domain of security trading

    Article • Organizational Behavior and Human Decision Processes, January 2008, Elsevier

    Professor David Hirshleifer, Dr. Danling Jiang

  36. Feedback and the success of irrational investors☆

    Article • Journal of Financial Economics, August 2006, Elsevier

    Professor David Hirshleifer

  37. Does Investor Misvaluation Drive the Takeover Market?

    Article • The Journal of Finance, March 2006, Wiley

    Professor David Hirshleifer

  38. A GENERALIZED EARNINGS-BASED STOCK VALUATION MODEL

    Article • Manchester School, September 2005, Wiley

    Professor David Hirshleifer

  39. Do tender offers create value? New methods and evidence

    Article • Journal of Financial Economics, April 2005, Elsevier

    Professor David Hirshleifer

  40. Fear and Greed in Financial Markets: A Clinical Study of Day-Traders

    Article • American Economic Review, April 2005, American Economic Association

    Professor David Hirshleifer

  41. Chapter 13. Investor Psychology and Security Market Under- and Overreaction

    Article • January 2005, De Gruyter

    Professor David Hirshleifer

  42. Price Theory and Applications

    Article • January 2005, Cambridge University Press

    Professor David Hirshleifer

  43. Do investors overvalue firms with bloated balance sheets?

    Article • Journal of Accounting and Economics, December 2004, Elsevier

    Professor David Hirshleifer

  44. Disclosure to an Audience with Limited Attention

    Article • SSRN Electronic Journal, January 2004, Elsevier

    Professor David Hirshleifer

  45. Limited attention, information disclosure, and financial reporting

    Article • Journal of Accounting and Economics, December 2003, Elsevier

    Professor David Hirshleifer

  46. Good Day Sunshine: Stock Returns and the Weather

    Article • The Journal of Finance, May 2003, Wiley

    Professor David Hirshleifer

  47. Herd Behaviour and Cascading in Capital Markets: a Review and Synthesis

    Article • European Financial Management, March 2003, Wiley

    Professor David Hirshleifer

  48. An Economic Approach to the Psychology of Change: Amnesia, Inertia, and Impulsiveness

    Article • Journal of Economics &amp Management Strategy, September 2002, The MIT Press

    Professor David Hirshleifer

  49. An Economic Approach to the Psychology of Change: Amnesia, Inertia, and Impulsiveness

    Article • Journal of Economics &amp Management Strategy, September 2002, Wiley

    Professor David Hirshleifer

  50. Sidelined Investors, Trading-Generated News, and Security Returns

    Article • Review of Financial Studies, January 2002, Oxford University Press (OUP)

    Professor David Hirshleifer

  51. Informational Cascades and Social Conventions

    Article • January 2002, Springer Science + Business Media

    Professor David Hirshleifer

  52. Disclosure to a Credulous Audience: The Role of Limited Attention

    Article • SSRN Electronic Journal, January 2002, Elsevier

    Professor David Hirshleifer

  53. Investor psychology in capital markets: evidence and policy implications

    Article • Journal of Monetary Economics, January 2002, Elsevier

    Professor David Hirshleifer

  54. Investor Psychology and Asset Pricing

    Article • The Journal of Finance, August 2001, Wiley

    Professor David Hirshleifer

  55. Overconfidence, Arbitrage, and Equilibrium Asset Pricing

    Article • The Journal of Finance, June 2001, Wiley

    Professor David Hirshleifer

  56. Firm and Managerial Incentives to Manipulate the Timing of Project Resolution

    Article • SSRN Electronic Journal, January 2001, Elsevier

    Professor David Hirshleifer

  57. On the survival of overconfident traders in a competitive securities market

    Article • Journal of Financial Markets, January 2001, Elsevier

    Professor David Hirshleifer

  58. Covariance Risk, Mispricing, and the Cross Section of Security Returns

    Article • March 2000, National Bureau of Economic Research

    Professor David Hirshleifer

  59. Investor Psychology and Security Market Under- and Overreactions

    Article • The Journal of Finance, December 1998, Wiley

    Professor David Hirshleifer

  60. Corporate Control Through Board Dismissals and Takeovers

    Article • Journal of Economics &amp Management Strategy, December 1998, The MIT Press

    Professor David Hirshleifer

  61. Corporate Control Through Board Dismissals and Takeovers

    Article • Journal of Economics &amp Management Strategy, December 1998, Wiley

    Professor David Hirshleifer

  62. Learning from the Behavior of Others: Conformity, Fads, and Informational Cascades

    Article • Journal of Economic Perspectives, August 1998, American Economic Association

    Professor David Hirshleifer

  63. Chapter 26 Mergers and acquisitions: Strategic and informational issues

    Article • January 1995, Elsevier

    Professor David Hirshleifer

  64. Security Analysis and Trading Patterns when Some Investors Receive Information Before Others

    Article • The Journal of Finance, December 1994, JSTOR

    Professor David Hirshleifer

  65. Security Analysis and Trading Patterns When Some Investors Receive Information Before Others

    Article • The Journal of Finance, December 1994, Wiley

    Professor David Hirshleifer

  66. Managerial performance, boards of directors and takeover bidding

    Article • Journal of Corporate Finance, March 1994, Elsevier

    Professor David Hirshleifer

  67. Futures Versus Share Contracting as Means of Diversifying Output Risk

    Article • The Economic Journal, May 1993, JSTOR

    Professor David Hirshleifer

  68. Managerial Reputation and Corporate Investment Decisions

    Article • Financial Management, January 1993, Wiley

    Professor David Hirshleifer

  69. A Theory of Fads, Fashion, Custom, and Cultural Change as Informational Cascades

    Article • Journal of Political Economy, October 1992, University of Chicago Press

    Professor David Hirshleifer

  70. Risk, managerial effort, and project choice

    Article • Journal of Financial Intermediation, September 1992, Elsevier

    Professor David Hirshleifer

  71. Managerial Conservatism, Project Choice, and Debt

    Article • Review of Financial Studies, July 1992, Oxford University Press (OUP)

    Professor David Hirshleifer

  72. Futures Markets.

    Article • The Journal of Finance, September 1991, JSTOR

    Professor David Hirshleifer

  73. Seasonal patterns of futures hedging and the resolution of output uncertainty

    Article • Journal of Economic Theory, April 1991, Elsevier

    Professor David Hirshleifer

  74. Share Tendering Strategies and the Success of Hostile Takeover Bids

    Article • Journal of Political Economy, April 1990, University of Chicago Press

    Professor David Hirshleifer

  75. Hedging Pressure and Futures Price Movements in a General Equilibrium Model

    Article • Econometrica, March 1990, JSTOR

    Professor David Hirshleifer

  76. Facilitation of Competing Bids and the Price of a Takeover Target

    Article • Review of Financial Studies, October 1989, Oxford University Press (OUP)

    Professor David Hirshleifer

  77. Futures Trading, Storage, and the Division of Risk: A Multiperiod Analysis

    Article • The Economic Journal, September 1989, JSTOR

    Professor David Hirshleifer

  78. Determinants of Hedging and Risk Premia in Commodity Futures Markets

    Article • Journal of Financial and Quantitative Analysis, September 1989, JSTOR

    Professor David Hirshleifer

  79. Cooperation in a repeated prisoners' dilemma with ostracism

    Article • Journal of Economic Behavior & Organization, August 1989, Elsevier

    Professor David Hirshleifer

  80. Risk, Futures Pricing, and the Organization of Production in Commodity Markets

    Article • Journal of Political Economy, December 1988, University of Chicago Press

    Professor David Hirshleifer

  81. Residual Risk, Trading Costs, and Commodity Futures Risk Premia:

    Article • Review of Financial Studies, April 1988, Oxford University Press (OUP)

    Professor David Hirshleifer

  82. Price Discrimination Through Offers to Match Price

    Article • The Journal of Business, January 1987, University of Chicago Press

    Professor David Hirshleifer

  83. Overvalued Equity and Financing Decisions

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  84. Does Investor Misvaluation Drive the Takeover Market?

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  85. Stock Market Misvaluation and Corporate Investment

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  86. Consumption and Demand

    Article • Cambridge University Press

    Professor David Hirshleifer

  87. The Economics of Time

    Article • Cambridge University Press

    Professor David Hirshleifer

  88. Answers to Selected Questions

    Article • Cambridge University Press

    Professor David Hirshleifer

  89. Preface

    Article • Cambridge University Press

    Professor David Hirshleifer

  90. Working Tools

    Article • Cambridge University Press

    Professor David Hirshleifer

  91. Utility and Preference

    Article • Cambridge University Press

    Professor David Hirshleifer

  92. The Business Firm

    Article • Cambridge University Press

    Professor David Hirshleifer

  93. Monopolies, Cartels, and Networks

    Article • Cambridge University Press

    Professor David Hirshleifer

  94. Government, Politics, and Conflict

    Article • Cambridge University Press

    Professor David Hirshleifer

  95. Applications and Extensions of Demand Theory

    Article • Cambridge University Press

    Professor David Hirshleifer

  96. Product Quality and Product Variety

    Article • Cambridge University Press

    Professor David Hirshleifer

  97. Competition Among the Few: Oligopoly and Strategic Behavior

    Article • Cambridge University Press

    Professor David Hirshleifer

  98. The Demand for Factor Services

    Article • Cambridge University Press

    Professor David Hirshleifer

  99. Resource Supply and Factor-Market Equilibrium

    Article • Cambridge University Press

    Professor David Hirshleifer

  100. The Nature and Scope of Economics

    Article • Cambridge University Press

    Professor David Hirshleifer

  101. Equilibrium in the Product Market – Competitive Industry

    Article • Cambridge University Press

    Professor David Hirshleifer

  102. Dealing with Uncertainty – The Economics of Risk and Information

    Article • Cambridge University Press

    Professor David Hirshleifer

  103. Exchange, Transaction Costs, and Money

    Article • Cambridge University Press

    Professor David Hirshleifer

  104. Welfare Economics: The Market and the State

    Article • Cambridge University Press

    Professor David Hirshleifer

  105. information cascades

    Article • Nature

    Professor David Hirshleifer

  106. Style as an Attention Technology

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  107. Psychological Bias as a Driver of Financial Regulation

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  108. Self-Enhancing Transmission Bias and Active Investing

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  109. The UMO (Undervalued Minus Overvalued) Factor

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  110. Social Transmission Bias and Active Investing

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  111. Investor Psychology and Asset Pricing

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  112. Superstition and Financial Decision Making

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  113. Accruals and NOA Anomalies: Risk or Mispricing?

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  114. Promotion Tournaments and Capital Rationing

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  115. Limited Attention, Information Disclosure, and Financial Reporting

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  116. A Generalized Earnings-Based Stock Valuation Model

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  117. Accruals and Aggregate Stock Market Returns

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  118. Accruals and NOA Anomalies: Risk or Mispricing?*

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  119. The Accrual Anomaly: Risk or Mispricing?

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  120. The Psychological Attraction Approach to Accounting and Disclosure Policy

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  121. Are Overconfident CEOs Better Innovators?

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  122. Asset Pricing in Production Economies with Extrapolative Expectations

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  123. Innovative Efficiency and Stock Returns

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  124. Overconfident Investors, Predictable Returns, and Excessive Trading

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  125. Self-Enhancing Transmission Bias and Active Investing

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  126. Preparing a Referee Report: Guidelines and Perspectives

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  127. Feedback and the Success of Irrational Investors

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  128. Can Individual Investors Beat the Market?

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  129. Good Day Sunshine: Stock Returns and the Weather

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  130. A Theory of Costly Sequential Bidding

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  131. Conversation, Observational Learning, and Informational Cascades

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  132. Uncertainty and Trading Strategies of Institutional Investors

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  133. Are Investors Really Reluctant to Realize their Losses? Trading Responses to Past Returns and the Disposition Effect

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  134. Are Investors Really Reluctant to Realize their Losses? Trading Responses to Past Returns and the Disposition Effect

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  135. Do Short-Sellers Arbitrage Accounting-Based Stock Market Anomalies?*

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  136. Covariance Risk, Mispricing, and the Cross Section of Security Returns

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  137. The blind leading the blind: social influence, fads, and informational cascades

    Article • Cambridge University Press

    Professor David Hirshleifer

  138. An Economic Approach to the Psychology of Change: Amnesia, Inertia, and Impulsiveness

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  139. Don’t Hide Your Light Under a Bushel: Innovative Diversity and Stock Returns

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  140. Do Investors Overvalue Firms With Bloated Balance Sheets?

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  141. Disclosure to a Credulous Audience: The Role of Limited Attention

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  142. Limited Investor Attention and Stock Market Misreactions to Accounting Information

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  143. Investor Psychology and Tests of Factor Pricing Models

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  144. Systemic Risk, Coordination Failures, and Preparedness Externalities: Applications to Tax and Accounting Policy

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  145. Short Arbitrage, Return Asymmetry and the Accrual Anomaly

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  146. Driven to Distraction: Extraneous Events and Underreaction to Earnings News

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  147. Fear of the Unknown: Familiarity and Economic Decisions

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  148. Accruals, Balance Sheet Bloat, and Aggregate Stock Returns

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  149. Limited Investor Attention and Earnings-Related Under- and Over-Reactions

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  150. Investor Overconfidence and the Forward Premium Puzzle

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  151. Cross-cultural differences in reference point adaptation: Evidence from China, Korea, and the US

    Article • American Psychological Association (APA)

    Professor David Hirshleifer

  152. Opportunism crosses decision domains--the many sins of opportunistic insider traders

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  153. The adaptation of reference points in security trading

    Article • American Psychological Association (APA)

    Professor David Hirshleifer

  154. The Causal Effect of Limits to Arbitrage on Asset Pricing Anomalies

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  155. Taking the Road Less Traveled: Does Conversation Eradicate Pernicious Cascades?

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  156. Herd Behavior and Cascading in Capital Markets: A Review and Synthesis

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  157. Do Tender Offers Create Value? New Methods and Evidence

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  158. Sidelined Investors, Trading-Generated News, and Security Returns

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  159. Investor Psychology in Capital Markets: Evidence and Policy Implications

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  160. A Theory of Overconfidence, Self-Attribution, and Security Market Under- and Over-reactions

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  161. Disclosure to a Credulous Audience: The Role of Limited Attention

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  162. Investor Overconfidence and the Forward Premium Puzzle

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  163. Driven to Distraction: Extraneous Events and Underreaction to Earnings News

    Article • SSRN Electronic Journal, Elsevier

    Professor David Hirshleifer

  164. Hirshleifer, Jack (1926–2005)

    Article • Nature

    Professor David Hirshleifer