For the most recent updates, see https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2024
(see links to download papers or presentation slides)
“War Discourse and Disaster Premia: 160 Years of Evidence from Stock and Bond Markets,” David Hirshleifer, Dat Mai, and Kuntara Pukthuanthong, May 2023.
Abstract Abstract & SSRN version Abstract & RePEc version
“Do Sell-Side Analysts Say ‘Buy’ While Whispering ‘Sell’?” David Hirshleifer, Yushui Shi, and Weili Wu, February 2023.
Abstract Abstract & SSRN version Abstract & RePEc version
“Social Contagion and the Survival of Diverse Investment Styles,” David Hirshleifer, Andrew Lo, and Ruixun Zhang, February 2022.
Abstract Abstract & SSRN version Abstract & RePEc version
“Up or Out: Resetting Norms for Peer Reviewed Publishing in the Social Sciences,” Campbell Harvey and David Hirshleifer, December 2020.
Abstract Abstract & SSRN version Abstract & RePEc version
“Naïve Buying Diversification and Narrow Framing among Individual Investors,” John Gathergood, David Hirshleifer, David Leake, Hiroaki Sakaguchi, and Neil Stewart, October 2022.
Abstract Abstract & SSRN version Abstract & RePEc version
- Published as: “Naïve Buying Diversification and Narrow Framing among Individual Investors,” John Gathergood, David Hirshleifer, David Leake, Hiroaki Sakaguchi, and Neil Stewart, Journal of Finance, 78 (3), June (2023): 1705-1741.
“Information Cascades and Social Learning,” Sushil Bikhchandani, David Hirshleifer, Omer Tamuz, and Ivo Welch, working paper version, for Journal of Economic Literature, May 2021.
Abstract Abstract & SSRN version Abstract & RePEc version
“News Diffusion in Social Networks and Stock Market Reactions,” David Hirshleifer, Lin Peng, and Qiguang Wang, April 2023.
Abstract Abstract & SSRN version Abstract & RePEc version
“Presidential Address: Social Transmission Bias in Economics and Finance,” David Hirshleifer, Journal of Finance, 75(4), August (2020): 1779-1831.
Abstract Abstract & SSRN version Abstract & RePEc version
- Published as: “Presidential Address: Social Transmission Bias in Economics and Finance,” David Hirshleifer, Journal of Finance, 75(4), August (2020): 1779-1831.
“Moonshots, Investment Booms, and Selection Bias in the Transmission of Cultural Traits,” David Hirshleifer and Joshua Plotkin, January 2021.
Abstract Abstract & SSRN version Abstract & RePEc version
- Published as: “Moonshots, Investment Booms, and Selection Bias in the Transmission of Cultural Traits,” David Hirshleifer and Joshua Plotkin, Proceedings of the National Academy of Sciences, 118(26), June (2021): e2015571118.
“Do Trade Creditors Possess Private Information? Evidence from Stock Returns,” David Hirshleifer, Yifan Li, Ben Lourie, and Thomas Ruchti, June 2020.
Abstract Abstract & SSRN version Abstract & RePEc version
“First Impressions and Analyst Forecast Bias,” David Hirshleifer, Ben Lourie, Thomas G. Ruchti, and Phong Truong, May 2020
Abstract Abstract & SSRN version Abstract & RePEc version
- Published as: “First Impressions and Analyst Forecast Bias,” David Hirshleifer, Ben Lourie, Thomas G. Ruchti, and Phong Truong, Review of Finance, Forthcoming
“Social Finance: Cultural Evolution, Transmission Bias and Market Dynamics,” Erol Akcay and David Hirshleifer, December 2020.
Abstract Abstract & SSRN version Abstract & RePEc version
- Published as: “Social Finance as Cultural Evolution, Transmission Bias and Market Dynamics,” Erol Akçay and David Hirshleifer, Proceedings of the National Academy of Sciences, 118(26), June (2021): e2015568118.
“The Exploratory Mindset and Corporate Innovation,” Zhaozhao He and David Hirshleifer, March 2020.
Abstract Abstract & SSRN version Abstract & RePEc version
“Index Investing and Asset Pricing under Information Asymmetry and Ambiguity Aversion,” David Hirshleifer, Chong Huang, and Siew Hong Teoh, September 2019.
Abstract Abstract & SSRN version Abstract & RePEc version
“Shared Analyst Coverage: Unifying Momentum Spillover Effects,” Usman Ali and David Hirshleifer, March 2019.
Abstract Abstract & SSRN version Abstract & RePEc version
- Published as: “Shared Analyst Coverage: A Unified Explanation for Momentum Spillovers,” Usman Ali and David Hirshleifer, Journal of Financial Economics, 136(3), June, (2020):649-675.
“Stock Market Overvaluation, Moon Shots, and Corporate Innovation,” Ming Dong, David Hirshleifer, and Siew Hong Teoh, July 2018.
Abstract Presentation Slides Abstract & SSRN version Abstract & RePEc version
“The Causal Effect of Limits to Arbitrage on Asset Pricing Anomalies,” Yongqiang Chu, David Hirshleifer, and Liang Ma, July 2018.
Abstract Presentation Slides Abstract & SSRN version Abstract & RePEc version
- Published as: “The Causal Effect of Limits to Arbitrage on Asset Pricing Anomalies,” Yongqiang Chu, David Hirshleifer, and Liang Ma, Journal of Finance, forthcoming.
“Short and Long Horizon Behavioral Factors,” Kent Daniel, David Hirshleifer, and Lin Sun, March 2018.
Abstract Abstract & SSRN version Abstract & RePEc version
- Published as: “Short and Long Horizon Behavioral Factors,” Kent Daniel, David Hirshleifer, and Lin Sun, Review of Financial Studies, forthcoming.
“Decision Fatigue and Heuristic Analyst Forecasts,” David Hirshleifer, Yaron Levi, Ben
Lourie, and Siew Hong Teoh, February 2018.
Abstract Abstract & SSRN version Abstract & RePEc version
- Published as: “Decision Fatigue and Heuristic Analyst Forecasts,” David Hirshleifer, Yaron Levi, Ben Lourie, and Siew Hong Teoh, Journal of Financial Economics, 133(1), July, (2019):83-98.
“One Brief Shining Moment(um): Past Momentum Performance and Momentum Reversals,” Usman Ali, Kent Daniel, and David Hirshleifer, April 2017.
Abstract Abstract & SSRN version Abstract & RePEc version
“Superstition and Financial Decision Making,” David Hirshleifer, Ming Jian, and Huai Zhang, September 2014.
Abstract Abstract & SSRN version Abstract & RePEc version
- Published as: “Superstition and Financial Decision Making,” David Hirshleifer, Ming Jian, and Huai Zhang, Management Science, January, 61(1), (2018):235-252
“Information Cascades and Observational Learning,” Sushil Bikhchandani, David Hirshleifer, and Ivo Welch, September 2005.
Abstract Abstract & SSRN version Abstract & RePEc version
- Published as: “Information Cascades,” Sushil Bikhchandani, David Hirshleifer, and Ivo Welch, The New Palgrave Dictionary of Economics, Second Edition, Steven N. Durlauf and Lawrence E. Blume, eds., Palgrave Macmillan/U.K., May, 2008.
“Attention, Social Interaction, and Demand for Lottery Stocks,” Turan Bali, David Hirshleifer, Lin Peng, and Yi Tang.
Abstract Abstract & SSRN version Abstract & RePEc version
“Susceptibility in Networks: It’s a Matter of Degree,” (in progress) Benjamin Golub and David Hirshleifer.
Abstract Abstract & SSRN version Abstract & RePEc version
“Moral Attitudes and Financial Decision Making,” (in progress) Jonathan Haidt, David Hirshleifer and Siew Hong Teoh.
Abstract Abstract & SSRN version Abstract & RePEc version
“Investor Psychology and Tests of Factor Pricing Models,” Kent Daniel, David Hirshleifer, and Avanidhar Subrahmanyam, November 2005.
Abstract Abstract & SSRN version Abstract & RePEc version
“Disclosure to an Audience with Limited Attention,” David Hirshleifer, Sonya S. Lim, and Siew Hong Teoh, October 2004.
Abstract Abstract & SSRN version Abstract & RePEc version
“Firm and Managerial Incentives to Manipulate the Timing of Project Resolution,” David Hirshleifer, Tarun Chordia, and Sonya S. Lim, March 2001.
Abstract Abstract & SSRN version Abstract & RePEc version
“Covariance Risk, Mispricing, and the Cross Section of Security Returns,” Kent D. Daniel, David Hirshleifer, and Avanidhar Subrahmanyam, July 2000.
Abstract Abstract & SSRN version Abstract & RePEc version
- Published as “Overconfidence, Arbitrage, and Equilibrium Asset Pricing,” Kent D. Daniel, David Hirshleifer, and Avanidhar Subrahmanyam, Journal of Finance, 56(3), June, (2001):921-965.
“Institutional Memory, Inertia, and Impulsiveness,” Ivo Welch and David Hirshleifer, September 1999.
Abstract Abstract & SSRN version Abstract & RePEc version
- Published as “An Economic Approach to the Psychology of Change: Amnesia, Inertia, and Impulsiveness,” David Hirshleifer and Ivo Welch, Journal of Economics & Management Strategy, 11(3), September, (2002):379-421.
“A Theory of Costly Sequential Bidding,” Kent D. Daniel and David Hirshleifer, July 1998.
Abstract Presentation Slides Abstract & SSRN version Abstract & RePEc version
- Published as: “A Theory of Costly Sequential Bidding,” Kent D. Daniel and David Hirshleifer, Review of Finance, 22(5), August, (2018):1631-1665.
“A Theory of Overconfidence, Self-Attribution, and Security Market Under- and Over-reactions,” Kent D. Daniel, David Hirshleifer, and Avanidhar Subrahmanyam, February 1997.
Abstract Abstract & SSRN version Abstract & RePEc version
- Published as “Investor Psychology and Security Market Under- and Overreactions,” Kent Daniel, David Hirshleifer, and Avanidhar Subrahmanyam, Journal of Finance, 53(6), December, (1998):1839-1885.
“Do Takeovers Increase Value? An Intervention Approach,” Sanjai Bhagat and David Hirshleifer, September 1996.
Abstract Abstract & SSRN version Abstract & RePEc version
- Published as “Do Tender Offers Create Value? New Methods and Evidence,” Sanjai Bhagat, Ming Dong, David Hirshleifer, and Robert Noah, Journal of Financial Economics, 76(1), April, (2005):3-60.
“Market-Based Estimates of Value Gains from Takeovers: An Intervention Approach,” Sanjai Bhagat and David Hirshleifer, September 1996.
Abstract Abstract & SSRN version Abstract & RePEc version
- Published as “Do Tender Offers Create Value? New Methods and Evidence,” Sanjai Bhagat, Ming Dong, David Hirshleifer, and Robert Noah, Journal of Financial Economics, 76(1), April, (2005):3-60.