Hersh Shefrin (born in

Winnipeg Winnipeg () is the capital and largest city of the Provinces and territories of Canada, Canadian province of Manitoba. It is centred on the confluence of the Red River of the North, Red and Assiniboine River, Assiniboine rivers. , Winnipeg h ...

Manitoba Manitoba is a Provinces and territories of Canada, province of Canada at the Centre of Canada, longitudinal centre of the country. It is Canada's Population of Canada by province and territory, fifth-most populous province, with a population ...

) is a Canadian

economist An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this ...

best known for his pioneering work in

behavioral finance Behavioral economics is the study of the psychological (e.g. cognitive, behavioral, affective, social) factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by traditional economi ...

. Shefrin received his B.S. from

University of Manitoba The University of Manitoba (U of M, UManitoba, or UM) is a public research university in Winnipeg, Manitoba, Canada. Founded in 1877, it is the first university of Western Canada. Both by total student enrolment and campus area, the University of ...

in 1970. At the

University of Waterloo The University of Waterloo (UWaterloo, UW, or Waterloo) is a Public university, public research university located in Waterloo, Ontario, Canada. The main campus is on of land adjacent to uptown Waterloo and Waterloo Park. The university also op ...

in 1971 he received his M.S. in

mathematics Mathematics is a field of study that discovers and organizes methods, Mathematical theory, theories and theorems that are developed and Mathematical proof, proved for the needs of empirical sciences and mathematics itself. There are many ar ...

. He then obtained a Ph.D. in

economics Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interac ...

from the

London School of Economics The London School of Economics and Political Science (LSE), established in 1895, is a public research university in London, England, and a member institution of the University of London. The school specialises in the social sciences. Founded ...

in 1974, after which he became

assistant professor Assistant professor is an academic rank just below the rank of an associate professor used in universities or colleges, mainly in the United States, Canada, Japan, and South Korea. Overview This position is generally taken after earning a doct ...

at the

University of Rochester The University of Rochester is a private university, private research university in Rochester, New York, United States. It was founded in 1850 and moved into its current campus, next to the Genesee River in 1930. With approximately 30,000 full ...

. In 1979 he was appointed professor at the

Santa Clara University Santa Clara University is a private university, private Jesuit university in Santa Clara, California, United States. Established in 1851, Santa Clara University is the oldest operating institution of higher learning in California. The university' ...

, first in the department of economics and then in 1990 to the department of

finance Finance refers to monetary resources and to the study and Academic discipline, discipline of money, currency, assets and Liability (financial accounting), liabilities. As a subject of study, is a field of Business administration, Business Admin ...

. Shefrin holds an honorary doctorate from the

University of Oulu The University of Oulu () is one of the largest universities in Finland, located in the city of Oulu. It was founded on July 8, 1958. The university has around 14,200 students and 3,800 staff. 21 International Master's Programmes are offer ...

Finland Finland, officially the Republic of Finland, is a Nordic country in Northern Europe. It borders Sweden to the northwest, Norway to the north, and Russia to the east, with the Gulf of Bothnia to the west and the Gulf of Finland to the south, ...

. Shefrin's research articles have been published in many economics and finance journals, in particular: the ''

Journal of Finance ''The Journal of Finance'' is a peer-reviewed academic journal published by Wiley-Blackwell on behalf of the American Finance Association. It was established in 1946. The editor-in-chief is Antoinette Schoar. According to the ''Journal Citation R ...

'', the ''

Journal of Financial Economics The ''Journal of Financial Economics'' is a peer-reviewed academic journal published by Elsevier, covering the field of finance. It is considered to be one of the premier finance journals. According to the ''Journal Citation Reports'', the journa ...

'', the ''

Review of Financial Studies ''The Review of Financial Studies'' is a peer-reviewed academic journal covering the field of finance. It is published by Oxford University Press on behalf of the Society for Financial Studies. It was established following discussions at the 1986 ...

'', the ''

Journal of Financial and Quantitative Analysis The ''Journal of Financial and Quantitative Analysis'' is a peer-reviewed academic journal published eight times a year by the Michael G. Foster School of Business at the University of Washington in cooperation with the W. P. Carey School of Bu ...

'', Financial Management, the ''

Financial Analysts Journal The ''Financial Analysts Journal'' is a quarterly peer-reviewed academic journal covering investment management, published by Routledge on behalf of the CFA Institute. It was established in 1945 and , the editor-in-chief is William N. Goetzmann. ...

'', and the ''

Journal of Portfolio Management ''The Journal of Portfolio Management'' is a quarterly academic journal for finance and investing, covering topics such as asset allocation, performance measurement, market trends, risk management, and portfolio optimization. The journal was e ...

''. Shefrin has written a number of influential books on behavioral finance and its applications to

corporate finance Corporate finance is an area of finance that deals with the sources of funding, and the capital structure of businesses, the actions that managers take to increase the Value investing, value of the firm to the shareholders, and the tools and analy ...

and corporate culture. Shefrin and his wife, Arna, were married in 1970.

Books

* ''Behavioral Corporate Finance'', 2006. McGraw-Hill/Irwin * ''A Behavioral Approach to Asset Pricing Theory'', 2005. Elsevier; 2nd edition in 2008. * ''Ending the Management Illusion'', 2008. McGraw-Hill * ''Beyond Greed and Fear: Understanding Behavioral Finance and the Psychology of Investing'', Boston, MA: Harvard Business School Press, 1999. Revised version published 2002, New York: Oxford University Press

Selected articles

* ''"An Economic Theory of Self-Control"'', with R. Thaler, ''

Journal of Political Economy The ''Journal of Political Economy'' is a monthly peer-reviewed academic journal published by the University of Chicago Press. Established by James Laurence Laughlin in 1892, it covers both theoretical and empirical economics. In the past, the ...

'', 1981. * ''"The Disposition to Sell Winners Too Early and Ride Losers Too Long: Theory and Evidence"'', with M. Statman, ''

'', Vol. XL, No. 3, 1985. * ''"Behavioral Capital Asset Pricing Theory"'', with M. Statman, ''

'', September, 1994. * ''"The Contributions of Daniel Kahneman and Amos Tversky"'', with Meir Statman. ''

Journal of Behavioral Finance A journal, from the Old French ''journal'' (meaning "daily"), may refer to: *Bullet journal, a method of personal organization *Diary, a record of personal secretive thoughts and as open book to personal therapy or used to feel connected to onesel ...

'', 2003.

External links

Curriculum Vitae

Home page at the Santa Clara University
{{DEFAULTSORT:Shefrin, Hersh Living people Alumni of the London School of Economics Behavioral economists Behavioral finance Canadian economists People from Winnipeg Santa Clara University faculty Santa Clara University people University of Rochester faculty University of Waterloo alumni Year of birth missing (living people)

Books

Selected articles

See also

External links