About

Nicholas C. Barberis is the Stephen and Camille Schramm Professor of Finance at Yale School of Management. His research focuses on behavioral finance, particularly on applications of cognitive psychology to understanding investor trading behavior and the pricing of financial assets. Professor Barberis has published extensively in top economics and finance journals, and he is known for giving frequent presentations about his work to both academic and non-academic audiences. He has received numerous awards for his research and teaching, including the Yale SOM Alumni Association Teaching Award and the Emory Williams Award for Excellence in Teaching. Prior to his tenure at Yale, he taught at the Booth School of Business at the University of Chicago.

Research topics

• Economics
• Geography
• Financial economics
• Econometrics
• Finance

Selected publications

• Model-Free and Model-Based Learning as Joint Drivers of Investor Behavior

  SSRN Electronic Journal · 2023-01-01 · 3 citations

  articleOpen access1st authorCorresponding
  PublisherDOI

• Model-free and Model-based Learning as Joint Drivers of Investor Behavior

  National Bureau of Economic Research · 2023-03-01 · 20 citations

  reportOpen access1st authorCorresponding
  PublisherDOI

• Model-free and Model-based Learning as Joint Drivers of Investor Behavior

  SSRN Electronic Journal · 2023-01-01 · 4 citations

  articleOpen access1st authorCorresponding
  PublisherDOI

• Prospect Theory and Stock Market Anomalies

  The Journal of Finance · 2021 · 171 citations

  1st authorCorresponding
  • Economics
  • Financial economics
  • Econometrics

  ABSTRACT We present a new model of asset prices in which investors evaluate risk according to prospect theory and examine its ability to explain 23 prominent stock market anomalies. The model incorporates all of the elements of prospect theory, accounts for investors' prior gains and losses, and makes quantitative predictions about an asset's average return based on empirical estimates of the asset's return volatility, return skewness, and past capital gain. We find that the model can help explain a majority of the 23 anomalies.

  PublisherOA PDFDOI

• Prospect Theory and Stock Market Anomalies

  National Bureau of Economic Research · 2020-05-01 · 16 citations

  reportOpen access1st authorCorresponding

  We present a new model of asset prices in which investors evaluate risk according to prospect theory and examine its ability to explain 23 prominent stock market anomalies. The model incorporates all the elements of prospect theory, takes account of investors' prior gains and losses, and makes quantitative predictions about an asset's average return based on empirical estimates of its volatility, skewness, and past capital gain. We nd that the model is helpful for thinking about a majority of the 23 anomalies.

  PublisherDOI

• Prospect Theory and Stock Market Anomalies

  SSRN Electronic Journal · 2019-01-01 · 12 citations

  articleOpen access1st authorCorresponding
  PublisherDOI

• Richard Thaler and the Rise of Behavioral Economics

  SSRN Electronic Journal · 2018-01-01 · 7 citations

  articleOpen access1st authorCorresponding
  PublisherDOI

• Extrapolation and bubbles

  Journal of Financial Economics · 2018-05-04 · 443 citations

  articleOpen access1st author
  PublisherOA PDFDOI

• Psychology-Based Models of Asset Prices and Trading Volume

  Handbook of behavioral economics · 2018-01-01 · 220 citations

  book-chapter1st authorCorresponding
  PublisherDOI

• Psychology-based Models of Asset Prices and Trading Volume

  SSRN Electronic Journal · 2018-01-01 · 40 citations

  articleOpen access1st authorCorresponding
  PublisherDOI

Frequent coauthors

• Mingxin Huang

  89 shared

• Lawrence J. Jin

  Cornell University

  50 shared

• BAOLIAN WANG

  University of Notre Dame

  36 shared

• Peter Bossaerts

  29 shared

• Colin F. Camerer

  29 shared

• Antonio Rangel

  28 shared

• Andrei Shleifer

  26 shared

• Cary Frydman

  23 shared

Awards & honors

• Yale SOM Alumni Association Teaching Award (2006, 2009, 2013…
• Emory Williams Award for Excellence in Teaching (1998, 2000,…
• Paul A. Samuelson Prize for Outstanding Scholarly Writing on…
• FAME Research Prize , Swiss Finance Institute (2000)