Research

Publications and Forthcoming

Reduced Risk Taking Behavior During Frontal Oscillatory Theta Band Neurostimulation” (with A. Dantas, A. Sacks, E. Bruggen, and A. Schuhmann), Brain Research, 2021, 1759 147365.

“Payoff-Based Belief Distortion”, the Economic Journal, 2020, 130(629): 1416-1444.

“Social Media and the Stock Market” (with Andre Veiga and Ansgar Walther), Journal of Economic Behavior & Organization, , 2020, 176: 63-90.

“Social-Media Coverage of Stocks Can Be Misleading” – Baron’s (November 26, 2016)

“Twitter and the Stock News Echo Chamber Whips Up Volatility” – Bloomberg (April 13, 2016)

“The Sydney Morning Herald” – Business Day (April 13, 2016)

“Social media’s ‘stale news effect’ spurs stock volatility, study finds” – The Globe and Mail (April 13, 2016)

“The Twitter news merry-go-round increases volatility in financial markets, study says” – CITYA.M. (April 13, 2016)

AI, Machine Learning and Sentiment Analysis Applied to Finance 2016

Deep Learning in Finance Summit London 2017

“The Bull of Wall Street: Experimental Analysis of Testosterone and Asset Trading” (with Amos Nadler, Veronika Alexander, Paul Zak and Cameron Johnson), Management Science, 2018, 64(9): 4032-4051.

“Men Can Be So Hormonal” – New York Times (June 24, 2017)

    –“Raging Bull: First study to find link between testosterone and stock market instability” – Science Daily (October 10, 2017)

    –“Could Hormones be the reason for stock market crashes? Scientists discover that testosterone heavily influences trader decisions” – Daily Mail (August 18, 2017)

   –“Opinion: Wall Street’s testosterone problem” – Market Watch (October 17, 2017)

“Belief in Mean Reversion and the Disposition Effect: An Experimental Test”, Journal of Behavioral Finance, 2017, 18(1): 29-44.

“Second-party and third-party punishment in a public goods experiment” (with Qilin Zhang and Yan Zhou), Applied Economics Letters, 2017, 24(1): 54-57.

Working Papers

“Attention Constraints and Learning in Categories” (with Rahul Bhui)

“Why don’t We Sleep Enough?” (with Mallory Avery and G. Osea Giuntella)

“Why don’t we sleep enough?” – IZA newsroom (November 20, 2019)

  “Investor Memory” (with Katrin Gödker and Paul Smeets)

“Market as Benchmark in Individual Stock Repurchasing Decisions” (with Heinrich Nax).

“Double-Channeled Effects of Experience in Individual Decisions: Experimental Evidence”.

“Naïve Learning, Investor Sophistication and Repurchase Decisions”.

Heuristics Adoption and Abandonment: Experimental Evidence from Cournot Contests“, with Heinrich Nax.

“Disposition Effect in the Closed-End Fund Market”.

Work in Progress

“Coronavirus Pandemic Shock, Economic Preferences and Belief Updating: An Online Survey Experiment” (with Raymond Duch)

-We are doing an online survey experiment in multiple countries to study the effects of the COVID-19 pandemic on people’s economic and social behaviour.

-Please find our pre-registration here.

-Please find the GitHub repository of our project here.

“Social Learning and Norms of Cooperation” (with James Best)

“Payoff Experience and Ambiguity Attitudes” (with Chen Li)

“Long-Run Persuasion: An Experiment” (with James Best and Daniel Quigley)

“Competitions: The Good, the Bad, and the Ugly” (with Cheng Wan)

“Why We Cheat – Cheating in the Workplace and Fairness Concerns” (with Raymond Duch)

“A Study of Chinese Millionaires” (with Paul Smeets and Jan Schmitz)

“Payoff-Based Belief Distortion in the Brain” (with Joyce Mertens)

“Testosterone and the Underlying Mechanism of Asset Price Bubbles” (with Justin Carré and Joyce Mertens)

“A Gut Feeling: How Your Brain (and Your Guts) Defines Your Choices” (with Aline M. Dantas, Alexander T. Sack, Elisabeth Brüggen, and Teresa Schuhmann)

“Investor Beliefs and Socially Responsible Investment” (with Rob Bauer and Bin Dong)

Referee Services

Quarterly Journal of Economics, Management Science, The Economic Journal, the Scandinavian Journal of Economics, Journal of Banking and Finance, International Journal of Game Theory, Journal of Economic Dynamics and Control, Plos ONE, International Review of Economics and Finance, Journal of Behavioral and Experimental Economics, Labour Economics