Nicholas Barberis, recently designated as the Stephen & Camille Schramm Professor of Finance at the School of Management (SOM), focuses his research on behavioral finance -- in particular, on applying cognitive psychology to understanding the pricing of financial assets.
Barberis has written about how loss aversion and other factors affect individuals' willingness to take investment risks. His scholarly work has been published in the American Economic Review, the Quarterly Journal of Economics, the Journal of Political Economy, the Journal of Finance and the Journal of Financial Economics. He has also written three articles for non-academic audiences as part of the Financial Times' Mastering Investment Series: "Investors Seek Lessons in Thinking," "Getting the Right Mix of Bonds and Stocks" and "Markets: The Price May Not Be Right."
A graduate of Cambridge University with a degree in mathematics (1991, first class honors), Barberis received his Ph.D. in business economics from Harvard (1996). He served on the faculty of the University of Chicago Graduate School of Business as assistant and then associate professor of finance 1996-2004. There, he became the first three-time winner of the Emory Williams Award for Excellence in Teaching, which is awarded by a vote of students. Since coming to Yale in 2004, Barberis has also been honored for his teaching skills, winning the SOM Alumni Association Teaching Award in 2006 by vote of the graduating class.
Barberis' other awards include a Roger F. Murray Prize from the Institute for Quantitative Research in Finance, the Paul A. Samuelson Prize for Outstanding Scholarly Writing on Lifelong Financial Security and a FAME Research Prize, given by the International Center for Asset Management and Financial Engineering for a paper on investments. He has been a faculty research fellow with the National Bureau of Economic Research since 1999 and was co-organizer of the NBER Behavioral Finance meetings in spring 2003 and 2005. He has held visiting posts at Harvard 1998-1999 and the London School of Business 2003-2004. He served as a consultant to the Russian Ministry of Privatization in the summer of 1992.
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Campus Notes
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