PhD, University of Chicago
MA, University of Chicago
BA, University of California, Los Angeles
Research Interest
Psychology, Social interactions, and Markets
Investments
Corporate finance
Risk management
Social transmission bias in economics and finance
David Hirshleifer is a Merage Chair and Distinguished Professor of Finance at the Merage School of Business, University of California, Irvine. He is a Fellow and former-President of the American Finance Association. He currently serves as Coeditor of the Journal of Financial Economics, and has served as Executive Editor of the Review of Financial Studies, director of the American and Western Finance Associations, and co-editor and associate editor at leading finance, economics, and business journals. In his Presidential Address to the American Finance Association, he argues for an emerging paradigm, social economics and finance, which studies how biases in the social transmission of ideas, information and behavior affects markets and asset prices. His research interests include behavioral economics and finance, and other topics in the investments and corporate finance fields. His papers have won various research awards, including the Smith Breeden Award for outstanding paper in the Journal of Finance. He has been keynote or plenary speaker at many conferences internationally. He was previously on the faculties of UCLA, University of Michigan, and Ohio State University, and he received his PhD from the University of Chicago. In his ample spare time, he composes classical music and sight-reads on the piano.
Fellow of the American Finance Association, Inducted 2020
President, American Finance Association, 2019
Coeditor, Journal of Financial Economics, 2020-
Associate Editor, Journal of Financial Economics, 2019-20
Finalist, AQR Insight Award 2018
Merage Chair in Business Growth
President Elect, American Finance Association, 2018
Vice President, American Finance Association, 2017
Executive Editor, Review of Financial Studies, 2011-14
Research Associate, National Bureau of Economic Research
Senior Fellow, Asian Bureau of Finance and Economic Research
Editor, Review of Financial Studies, 1994-7
Associate Editor, Journal of Finance, 2003-11
Associate Editor, Review of Financial Studies, 1990-4, 1997-9
Associate Editor, Journal of Financial Intermediation, volumes III -
Associate Editor, Journal of Corporate Finance, 1994–
Coeditor, Journal of Economics and Management Strategy, 1993–2003
Director, American Finance Association, 2000-2002.
Director, Western Finance Association, 2005-
Associate, Behavioral and Brain Sciences, 2004-
"Shared Analyst Coverage: Unifying Momentum Spillover Effects,” Usman Ali and David Hirshleifer, forthcoming, Journal of Financial Economics.
“Thought and Behavior Contagion in Capital Markets,” David Hirshleifer and Siew Hong Teoh, Ch. 1 of Handbook of Financial Markets: Dynamics and Evolution, Thorsten Hens and Klaus Reiner Schenk-Hoppé, eds., Handbooks in Finance series (William Ziemba, ed.), Elsevier/North-Holland, (2009):1-56.
“Thought and Behavior Contagion in Capital Markets,” David Hirshleifer and Siew Hong Teoh, Ch. 1 of Handbook of Financial Markets: Dynamics and Evolution, Klaus Reiner Schenk-Hoppé and Thorsten Hens, Ed., Handbooks in Finance series (William Ziemba, ed.), Elsevier/North-Holland (2009):1-56.
“Informational Cascades and Rational Herding: An Annotated Bibliography and Resource Reference.” Sushil Bikhchandani, David Hirshleifer and Ivo Welch
Books
Price Theory and Applications: Decisions, Markets, and Information, 7th Edition, Jack Hirshleifer, Amihai Glazer, and David Hirshleifer, Cambridge University Press, 2005.
Price Theory and Applications, 6th Edition, Prentice Hall, 1998, Jack Hirshleifer and David Hirshleifer.
Selected Papers
Please view Selected Publications list in drop-down above.
Other Selected Publications
“Thought and Behavior Contagion in Capital Markets,” David Hirshleifer and Siew Hong Teoh, Ch. 1 of Handbook of Financial Markets: Dynamics and Evolution, Klaus Reiner Schenk-Hoppé and Thorsten Hens, Ed., Handbooks in Finance series (William Ziemba, ed.), Elsevier/North-Holland (2009):1-56.
“Informational Cascades and Rational Herding: An Annotated Bibliography and Resource Reference.” Available at http://www.info-cascades.info/, Sushil Bikhchandani, David Hirshleifer and Ivo Welch
