Ulrike Malmendier

About

Ulrike Malmendier is the Cora Jane Flood Professor of Finance at Berkeley Haas and a Professor of Economics at UC Berkeley. Her research interests include corporate finance, behavioral economics and finance, economics of organizations, contract theory, law and economics. Her work focuses on the intersection of economics and finance, specifically on how individuals make decisions, the mistakes they make, and the systematic biases influencing their choices. She has conducted research on topics such as CEO overconfidence, the long-term frugality of Depression-era individuals, and decision-making processes behind gym memberships. Malmendier has received numerous awards and honors for her contributions to the field, including the Fisher Black Prize from the American Finance Association in 2013, the Guggenheim Fellowship in 2017, and the Alfred P. Sloan Research Fellowship. She has also been recognized for her teaching excellence with the Distinguished Teaching Award at UC Berkeley in 2015. Malmendier holds a PhD in Business Economics from Harvard University and a PhD in Law from the University of Bonn. She has held academic positions at Stanford University, the University of Chicago Booth School of Business, and has been a visiting scholar at several prestigious institutions. Her research has been published in leading journals, and she is actively involved in various professional service roles, including editorial positions and memberships in prominent economic associations.

Research topics

• Economics
• Monetary economics
• Political Science
• Law
• Keynesian economics
• Advertising
• Macroeconomics
• Econometrics
• Business

Selected publications

• Exposure to Grocery Prices and Inflation Expectations

  Journal of Political Economy · 2020 · 335 citations

  Consumers rely on the price changes of goods in their grocery bundles when forming expectations about aggregate inflation. We use micro data that uniquely match individual expectations, detailed information about consumption bundles, and item-level prices. The weights consumers assign to price changes depend on the frequency of purchase, rather than expenditure share, and positive price changes loom larger than negative price changes. Prices of goods offered in the same store but not purchased d…

  DOI

• The making of hawks and doves

  Journal of Monetary Economics · 2020 · 150 citations

  1st authorCorresponding
  DOI

• Experience Effects in Finance: Foundations, Applications, and Future Directions

  European Finance Review · 2021-09-01 · 113 citations

  articleOpen access1st authorCorresponding

  Abstract This article establishes four key findings of the growing literature on experience effects in finance: (i) the long-lasting imprint of past experiences on beliefs and risk taking; (ii) recency effects; (iii) the domain-specificity of experience effects; and (iv) imperviousness to information that is not experience-based. I first discuss the neuroscientific foundations of experience-based learning and sketch a simple model of its role in the stock market based on Malmendier et al. (2020a…

  PublisherOA PDFDOI

• What do the data tell us about inflation expectations?

  Elsevier eBooks · 2023-01-01 · 82 citations

  book-chapter
  PublisherDOI

• <i>FBBVA Lecture 2020</i>Exposure, Experience, and Expertise: Why Personal Histories Matter in Economics

  Journal of the European Economic Association · 2021-10-18 · 80 citations

  article1st authorCorresponding

  Abstract Personal experiences of economic outcomes, from global financial crises to individual-level job losses, can shape individual beliefs, risk attitudes, and choices for years to come. A growing literature on experience effects shows that individuals act as if past outcomes that they experienced were overly likely to occur again, even if they are fully informed about the actual likelihood. This reaction to past experiences is long-lasting though it decays over time as individuals accumulate…

  PublisherDOI

Frequent coauthors

• Stefan Nagel

  315 shared

• Michael Weber

  University of Chicago

  89 shared

• Geoffrey A. Tate

  National Bureau of Economic Research

  65 shared

• Francesco D’Acunto

  Georgetown University

  53 shared

• Josh Lerner

  Entrepreneurial Ecosystems

  47 shared

• Stefano DellaVigna

  University of California, Berkeley

  44 shared

• Enrico Moretti

  University of California, Berkeley

  29 shared

• John A. List

  University of Chicago

  23 shared

Education

• Ph.D., Economics

  University of California, Berkeley

  2001

• M.A., Economics

  University of California, Berkeley

  1998

• B.A., Economics

  University of Bonn

  1996

Awards & honors

• Fisher Black Prize from the American Finance Association (20…
• Guggenheim Fellowship (2017)
• Alfred P. Sloan Research Fellowship (2017)
• Thomson Reuter Highly Cited Researcher (2016)
• Fellow, American Academy of Arts and Sciences (2016)

Similar researchers at University of California, Berkeley

• Martin Lettauh-71
• Adair Morseh-56
• Terrance Odeanh-48