Research Interests

Behavioral Economics, Behavioral Finance
Corporate Finance
Economics of Organizations, Contract Theory
Law and Economics, Law and Finance

Working Papers

1. Contractibility and the Design of Research Agreements (with J. Lerner).  July 2008.
   Online Appendix
   NBER Working Paper 11292.
   Revise and resubmit at the American Economic Review.
2. Law and Finance at the Origin. April 2007.
   Revise and resubmit at the Journal of Economic Literature (3rd round).
3. Sorting in Experiments (with E. Lazear and R. Weber). October 2006.
   NBER Working Paper 12041.
4. Superstar CEOs (with G. Tate) June 2008. NBER Working Paper 14140.
   Revise and resubmit at the Quarterly Journal of Economics.
5. Corporate Financial Policies with Overconfident Managers (with G. Tate and J. Yan). November 2007. NBER Working Paper 13570
6. Do Security Analysts Speak in Two Tongues? (with D. Shanthikumar). October 2007. Updated version of NBER Working Paper 13124.
7. Depression Babies: Do Macroeconomic Experiences Affect Risk-Taking? (with S. Nagel), August 2007. Manuscript.
8. Winning by Losing: Evidence on Overbidding in Mergers (with E. Moretti), December 2006. Manuscript.
9. The Bidder's Curse (with H. Lee). May 2008. NBER Working Paper 13699
10. With a Little Help from My (Random) Friends: Success and Failure in Post-Business School Entrepreneurship (with J. Lerner), December 2007. Manuscript.
11. Fishing for Fools (with A. Szeidl), June 2008. Manuscript

Publications and Forthcoming Papers

1. Who Makes Acquisitions? CEO Overconfidence and the Market's Reaction (with G. Tate).
   Journal of Financial Economics, forthcoming.

2. Financial Expertise of Directors (with B. Guner and G. Tate).
   Journal of Financial Economics, May 2008, vol. 88(2), pp. 323-354.

3. Are Small Investors Naive about Incentives? (with D. Shanthikumar).
   Journal of Financial Economics, August 2007, vol. 85 (2), pp. 457-489.

4. Behavioral Economics of Organizations (with C. Camerer).
   In: P. Diamond and H. Vartiainen (eds.), Behavioral Economics and Its Applications, Princeton University Press, March 2007.

5. 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.)

6. CEO Overconfidence and Corporate Investment (with G. Tate).
   Journal of Finance, December 2005, vol. 60 (6), pp. 2661-2700.

7. Does Overconfidence Affect Corporate Investment? CEO Overconfidence Measures Revisited (with G. Tate). European Financial Management, November 2005, vol. 11 (5), pp. 649-659.

8. 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.

9. 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.)

10. Societas publicanorum.
    Böhlau Verlag, Cologne/Vienna 2002, ca. 353 pages, ISDN 3-412-12201-7. 

11. The Origins of the Corporation in Ancient Rome.
    (Book in preparation for publication at Yale University Press.) 

12. De foeminis iuris prudentia inbutis (with R. Knütel).
    In: Wolfgang Schön (ed.), Gedächtnisschrift für Knobbe-Keuk, Cologne 1997, pp. 861-877.