Radhika Lunawat

Radhika Lunawat

Assistant Professor

SB2 407



PhD in Accounting, University of Minnesota (2009)
Chartered Accountant, Institute of Chartered Accountants of India (2003)
Certificate in Computer Science, Indian Institute of Technology, Delhi, India (2000)
Bachelor of Commerce, Calcutta University, India (1999)

Research Interest

Fair Value Accounting

Role of Higher-Order Beliefs in Financial Markets

Trust and Reputation Building in Financial Reporting and Disclosure

Professor Radhika Lunawat’s research interests include fair value accounting, the role of higher-order beliefs in financial markets, and trust and reputation building in financial reporting and disclosure. Her research focuses on the role of disclosure in building reputation for being trustworthy, on how mark-to-model form of fair value accounting can cause markets to freeze up, and on the role of higher order beliefs in the phenomenon of post-earnings announcement drift.

Selected Publications, News & Honors


  • Learning from Trading Activity in Laboratory Security Markets with Higher-Order Uncertainty (2020), Journal of Behavioral and Experimental Economicsforthcoming.
  • Do Verified Earnings Reports Increase Investment? with Gregory Waymire and Baohua Xin (2020), Contemporary Accounting Researchforthcoming.
  • Public Information and Market Skepticism of Voluntary Disclosure, with Zining Li, in Paths for Sustainable Development: Festschrift for Shubhashis Gangopadhyay, Robert Lensink, Stefan Sjogren and Clas Wihlborg, Eds. Publishers: L,S&W, Gothenburg, Sweden (2017).
  • Reputation Effects of Information Sharing, Journal of Economic Behavior and Organization 131 (2016) 75 – 91.
  • The Impact of Financial Histories on Individuals and Societies: A Replication and Extension of Berg et. al., with Brian Shapiro and Xu Jiang, Research in Experimental Economics – Volume on Replication (2015) 95 – 135.
  • An Experimental Investigation of Reputation Effects of Disclosure in an Investment / Trust Game, Journal of Economic Behavior and Organization 94 (2013): 130-144.
  • The Role of Information in Building Reputation in an Investment / Trust Game, European Accounting Review 22.3 (2013): 513-532.
  • Decision Making and Trade without Probabilities, with Jack Stecher, Kira Pronin and John Dickhaut, Economic Theory 48 (2-3):275-288, 2011.
Awards and Honors
  • Outstanding Ph.D. Student Teaching Award, Carlson School of Management, University of Minnesota, 2009
  • University of Minnesota Graduate School Fellowship, 2008 (University-wide competition)
  • National Science Foundation Doctoral Dissertation Research Improvement Grant, 2008
  • U.S. Representative to the European Accounting Association Doctoral Colloquium, 2008