I am an Assistant Professor of Finance at the David Eccles School of Business, University of Utah. I received my Ph.D. from Stanford Graduate School of Business in 2019.
Stanford SITE (July 19th), Prices Are Less Elastic For Less Diversifiable Demand
NBER SI (July 21st) and AEA (Jan 4th): Attention Constraints and Financial Inclusion
AFA (Jan 4th), Discontinued Positive Feedback Trading and the Decline of Return Predictability
My research on institutional finance shows that investor demand can explain a large fraction of asset price movements. For instance, flow-induced price pressures explain around 30% of size and value factor movements, as well as the sharp drop of momentum-related factor profits after 2002, etc. My coauthors and I also used a Morningstar 2002 methodology change to show causal evidence of demand on style-level returns.
My "behavioral" research explores the consequences of endogenous attention allocation by agents. Endogenous investor attention allocation explains the speed at which corporate bonds respond to different shocks; loan officer attention allocation under time constraints hinders financial inclusion for disadvantaged individuals. On a "more behavioral" note, retail investors with limited attention/sophistication fail to adjust for risk when allocating capital across mutual funds and corporate bonds.
Here is my CV. You can reach me at firstname.lastname@example.org.
Image: Llamas in Machu Picchu