Hersh Shefrin (born in

Winnipeg Winnipeg () is the capital and largest city of the province of Manitoba in Canada. It is centred on the confluence of the Red and Assiniboine rivers, near the longitudinal centre of North America. , Winnipeg had a city population of 749 ...

Manitoba , image_map = Manitoba in Canada 2.svg , map_alt = Map showing Manitoba's location in the centre of Southern Canada , Label_map = yes , coordinates = , capital = Win ...

) is a Canadian

economist An economist is a professional and practitioner in the 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 field there are ...

best known for his pioneering work in

behavioral finance Behavioral economics studies the effects of psychological, cognitive, emotional, cultural and social factors on the decisions of individuals or institutions, such as how those decisions vary from those implied by classical economic theory. ...

. Shefrin received his B.S. from

University of Manitoba The University of Manitoba (U of M, UManitoba, or UM) is a Canadian public research university in the province of Manitoba.University of Waterloo The University of Waterloo (UWaterloo, UW, or Waterloo) is a public research university with a main campus in Waterloo, Ontario, Canada. The main campus is on of land adjacent to "Uptown" Waterloo and Waterloo Park. The university also operates ...

in 1971 he received his M.S. in mathematics. He then obtained a Ph.D. in

economics Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analy ...

from the

London School of Economics , mottoeng = To understand the causes of things , established = , type = Public research university , endowment = £240.8 million (2021) , budget = £391.1 mill ...

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 and Canada. Overview This position is generally taken after earning a doctoral degree and gene ...

at the

University of Rochester The University of Rochester (U of R, UR, or U of Rochester) is a private university, private research university in Rochester, New York. The university grants Undergraduate education, undergraduate and graduate degrees, including Doctorate, do ...

. In 1979 he was appointed professor at the

Santa Clara University Santa Clara University is a private Jesuit university in Santa Clara, California. Established in 1851, Santa Clara University is the oldest operating institution of higher learning in California. The university's campus surrounds the historic M ...

, first in the department of economics and then in 1990 to the department of finance. Shefrin holds an honorary doctorate from the University of Oulu,

Finland Finland ( fi, Suomi ; sv, Finland ), officially the Republic of Finland (; ), is a Nordic country in Northern Europe. It shares land borders with Sweden to the northwest, Norway to the north, and Russia to the east, with the Gulf of Bo ...

. 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 and is considered to be one of the premier finance journals. The editor-in-chief i ...

, 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 journ ...

, the Review of Financial Studies, the Journal of Financial and Quantitative Analysis,

Financial Management Financial management is the business function concerned with profitability, expenses, cash and credit, so that the "organization may have the means to carry out its objective as satisfactorily as possible;" the latter often defined as maximizi ...

, the Financial Analysts Journal, and the Journal of Portfolio Management. Shefrin has written a number of influential books on behavioral finance and its applications to corporate finance 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, th ...

, 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, Journal of Financial and Quantitative Analysis, September, 1994. * ''"The Contributions of Daniel Kahneman and Amos Tversky"'', with Meir Statman. Journal of Behavioral Finance, 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