Tag Archives: academics

Academics (covid) waving at the media…

The WHO give an average time for symptoms of COVID to show as being 5-6 days. The 14 day issue comes from a proper abundance of caution. So, given that we are now nearly a month into a gradual reopening of the country, we should be seeing a second wave? We have been told by the public health media that this is “imminent“. One even stated we are in a second wave. This is despite in fact that there is no accepted definition of what actually constitutes a wave of disease. So where are we?

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Why the rush to replace Universities with Innoversities…?

Ireland, or at least the government, is in the grip of a frenzy around entrepreneurship. From local government, through the higher education system, to the highest in the land, hardly a day goes by without some new band jumping on the wagon. We are being flogged with the mantra that we must start up, become entrepreneurs, be self-employed, yadda yadda yadda. It’s a diversion of resources, built around a self-perpetuating meme. The SME sector is really important, in Ireland and in Europe. In Europe, as of 2012, SMEs accounted for over 99% of all companies, employing just under 90m people. They account for 66% of total employment and for about 58% of total output.  However, when we think of SME’s in Ireland we think of small and medium-sized companies. The SME definition is companies with less than 250 employees, €50m in total turnover. This is by Irish standards a fairly substantial enterprise. In Ireland, SME account for 68% of total employment. Thus, it makes sense, to some extent, to ensure that SMEs as a sector are in rude health. What it may not make sense to do is to pour more and more scarce resources into creating startups and micro enterprises, in pursuit of a problem that doesn’t exist.

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Jackie Lavin – A Meme Girl for Irish Higher Education

jackielavin_SIEducation is a complex matter while reducing it to simple soundbites is easy. Ignorance, in the pure sense of not knowing, abounds when it comes to higher education. Alas, ignorance creates memes that are powerful.

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Can we really measure research supervisory quality?

Research metrics are fraught with danger. Usually they are dangerous when they are abused. We can measure the citation history of a paper but that tells us little beyond its citation history. We can measure raw output but that tells us simply how busy someone is. We can measure lots of things but they are all limited in some way. Measurement limitation does not prevent university administration from seizing on metrics and using them appallingly. I recently was informed of an Irish academic unit where papers published in journals that are not in the ISI Web of Science are not allowed to be used as part of any promotion or other college activity. They are un-papers. This is stark raving lunacy, but it shows how dangerous a simple metric can be in the hands of the ignorant.

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What do Irish economists think and teach?

EconomistsSavingTheWorld

In late 2013, Stephen Kinsella and I undertook a survey of Irish economics and finance academics. We asked a bunch of questions on what they felt was core and not in the subject, on how things had changed in teaching over the last 5 years, on their views on the subject etc.  We are writing this up as  a paper with additional commentary and some suggestions on how to improve things but in the meantime we are presenting it at a conference organized by the Irish Economics Association on Friday 31 Jan 2014. (Update : Stephen has unavoidable work commitments and I have unavoidable personal/family commitments that make it impossible for us to attend. Hope this blogpost fills the gap partially)

Here are slides on this presentation. Here is a powerpoint show with my narration – this is quite large ( ±100 mb) so be warned – but it gives a much better sense of how we feel than just the raw slides alone. This is my take. Others, including Stephen, might not agree with any or all interpretation, so please recall that.

What’s the takeaway?

  • We surveyed 300+ academics and got a fairly poor response. It was surprising how little people seemed to care about the profession. We unashamedly concentrated on university and macro/finance. We couldnt be sure of a full sample in IoTs. And we want to first see what the academics think before maybe moving onto the industrial.
  • Modal respondent is 10y plus in academia, has a PhD doesnt have a professional training.
  • only 11% are teaching in an area v close to their research – research led teaching seems a long way off
  • average undergrad contact time is 57% of total teaching.
  • Most economists think the government should put more money into economics education …mmmkaaay
  • Despite the preponderance of evidence, the respondents dont think that studying economics makes you more selfish
  • They firmly think its a science (three words – Prescott, Sims, Nobel…)
  • Respondents want a broader focus in economics teaching BUT also want more math and DONT want it taught as part of management or social sciences. Greetings from Isolation Hill.
  • There is no sense that the profession should sort out its internal disagreements on fundamental issues (and these are many and stark) before speaking out.
  • Theres a very traditional skills led view of what should constitute the core. Amazingly only 33% think that a survey of irish economic conditions should be in the core.
  • Theres a deep suspicion of accounting. Which is worrying as its the language of business. Most graduates wont go indon’tesearch but become part of the business workforce. Despite this there’s a feeling that SME finance is important. This is not logical.
  • Most come across as technological illiterates. While there is considerable use of anti-plagiarism software there is much much less use of even things like interactive clickers (or apps for same), or the use of social media for engagement.
  • compared to 5 years ago
    • more time is being given to labour market issues, to debt dynamics and to DSGE. The latter is worrying as these are in essence (and imho) useless. See the  series of takedowns by Noah Smith (search for DSGE). We also spend more time on the microstructure of financial markets, on models of bubbles and networks, and on the role of financial institutions. More time is spent on expansionary fiscal contraction, hopefully debunking its existence (but I wouldn’t be too sure) . That old trope of the Regan era, Trickle Down Economics, gets more time, as does privatisation and endogenous growth. If I had to call it, I would suggest that finance teaching has taken more cognizance of the crisis than has mainstream macro teaching in Ireland.
    • Less time is being spent on very little. Keynesian Cross models – this is interesting as an implication of the KC model is that there can be a  equilibrium with less than full employment and with recession – that might be a useful idea to implant in peoples minds, no? Maybe its seen as dangerous.
    • For the most part people teach the same , more or less, than they did 5 years ago. Despite the massive wrench in the actual economy, the academy seems to be broadly unchanged in how and what it teaches. This must change.

How to organise an academic conference | 10 tips | Higher Education Network | Guardian Professional

How to organise an academic conference – 10 tips

Below is a link to The Guardian HE Network blogpost by my good self…

via How to organise an academic conference | 10 tips | Higher Education Network | Guardian Professional.

Random thoughts of an editor on peer review

peerreview

I have been a journal editor for over three years now, as in Editor in Chief. At present I am editor of two journals, and on the board of three others. I have reviewed for over 25 separate journals and done special issues as a guest editor for half a dozen. One of the most frustrating things about being a journal editor is dealing with the process of getting good reviews. First you have to get someone to agree, and then typically it’s a chase to get the review in. Some thoughts below and bear in mind that editors have probably committed every sin here and then some….

  1. It’s called peer review for a reason. You, putative reviewer, are the peer. If you don’t do it for them why should they do it for you?
  2. It’s good for you. This is one way to keep up with the literature. Don’t whine.
  3. Saying “i’m busy” is not a good excuse. The chances are really really high that the editor is much much busier than you.
  4. Saying “it’s not my area” is a slightly better excuse. But, it is not a good one when you have published a very closely related paper recently. And saying ‘I’m only one of the authors’ in response? That doesn’t cut it.
  5. Be open.  Unless it’s a review for the Journal of Incredible Specialization, specialists and generalists have a role to play. At least they do in social sciences, IMHO. If you are a finance professor specializing in say markov switching portfolio allocations, that’s great. But it doesn’t mean that you shouldn’t have an informed view on a paper on say the role of alternative investments in portfolios, or portfolio planning for sovereign wealth funds. Specialization is for ants. Editors, especially of general journals, will try to get specialized and more general reviewers
  6. Be honest. Don’t agree to do it then not do it. We all find ourselves having at times to back out of agreements. Its much better to say “sorry, I now find I cant” than to sit mum.
  7. Be timely. Try to do it on time. You can’t complain about how long it takes a paper to be deal with if you are sitting on reviews like a dragon on its hoard.
  8. Be meaningful. A review is more than a suggestion to revise or to reject or to accept. It should be meaningful. It should guide the author on what is good and what is not so good as you see it. If it’s short then it probably isn’t going to do that.
  9. Read the invite. Most journals now have in their email inviting you to review a link to accept and one to reject. Don’t respond with a long apology about how you would love to you cat has kittens and you have a paper yourself to do and anyhow  Prof von Juntz at Miskatonic would be better. Click. The. Link
  10. Be humble. Don’t use the review process to puff your own work. Its perfectly ok to suggest that your work be included as part of the paper if your work is relevant and missing. But ask .. if its missing is it really as good as you think? If it is and the paper misses it, what else is it missing…
  11. Don’t be cruel. If the paper is truly awful, suggest a reject but don’t engage in ad hominum remarks. Rejection should be positive.
  12. Be definite. Ok, its our role as editors to make the call but try not to sit on the fence. Tell us what you think in the cover letter.
  13. Be conscious of your role. Don’t get upset if the editor doesn’t take your advice. Its our call to determine, with you aid, what to do with the paper. You are part not the totality of the decision making process.
  14. Be scientific. Don’t fall back on filling the review with editorial and typographic issues. IF the paper is rife with errors, tell the editor and give examples. Concentrate on the added value of your scientific knowledge and not so much on missing commas etc. If as part of your revision you think that the paper should be professionally proof edited (as I sometimes do with my own) then say so.
  15. Be sensible. A caveat to this is that the paper is an act of communication. If it is so poorly constructed as to fail then tell me that also. Remember however that this is not Proust or even Lee Child. Its not about style but substance until the style gets in the way
  16. Ask the editor. If you are unsure about something then ask. Don’t stew – your wasting your time and worse that of the author.
  17. Be aware of that for which you are reviewing. Reviewing for a conference is not the same as for a journal. The aim of most conference organizers is to have decent work needing feedback presented. Therefore the bar in terms of completeness etc is lower. The material still needs to be scientifically good enough but this is a step on the way not the final stage.
  18. Thank the author if you learned anything, even if you are suggesting rejection.
  19. Be realistic about the process. You and the editor and the journal will make errors. Poor (in retrospect) papers will be accepted, good ones rejected. Therefore don’t beat yourself up if such is made, learn from it.
  20.  A review is a mini paper – structure it as a logical flow of argument. You can’t critique a paper for being a rambling mess if your review is one also.
  21. Don’t tell the author what you think the editor should do – reject etc. Tell the editor in a cover letter.
  22. Be helpful. Make suggestions to the authors as to how to overcome the shortcomings you identify

Universities are not Innovation Bootcamps


This is an extended version of an opinion piece published (here, paywalled) in the Sunday Business Post Sunday 8 September 2013, authored by Charles Larkin and myself.

 

innovationIrish universities remits and units are shrinking in most areas, with one exception it seems. There has been a growth over the last number of years in university-based industrial incubators. These subsidized hot presses are designed to encourage faculty and students to create tomorrow’s Google or Facebook, and with it  money for the universities and  jobs for the politicians. Of course, faced with 400k on the live register we will need a lot of FaceGoogles to make a dent.Facebook has about 5k staff, so 80 of those will do nicely. We merely need 10 googles. Good luck with that. 

At one level these incubootcamplators amount to free or cheap office space and IT; at the other these amount to startup boot camps where (typically) students are run through courses delivered by existing entrepreneurs and academics to generate ideas and to carry them to the market. These showcase units attract a lot of attention, playing as they do into the apparent government desire for us all to become entrepreneurs. Lets leave aside the actual numbers and facts on Irish entrepreneurship : that we have a high level of forced entrepreneurs (the TINAEs those for whom there is no alternative to entrepreneurship)  and that the attraction of entrepreneurship is waning rapidly. Innovation and entrepreneurship are, officially, a Good Thing To Be In Favor Of

 

brazil-03Incubators and accelerators have become, without any proper debate, the method by which entrepreneurship has moved into being a core function of higher education. We are knee deep in the entrepreneurial big muddy and on we press, the classic escalation of prior commitment (also known as throwing good money after bad) paradigm being played out in real time. Universities now are expected to foster and support innovation and enterprise with time, money and materials, diverting these from existing activities already under pressure from declining funding and increased demands.  Most worryingly, and with scant discussion in he media or elsewhere, the proposed new funding model for universities has a requirement for “high quality research and innovation” as a core element.  When did the two get conflated? By whom? Where was that debate played out? Do we now take it that only research which is likely to produce innovative wotsits is worthy of funding? Recognition? Approval? What a dreary academy that would be, a higher education “Brazil”

 

1-s2.0-S0048733303000234-gr2One of the proposed key system objectives is to foster increased university-enterprise connections, the so-called “triple helix model” of universities, government and industry, and have these measured by an EU level index (the summary Innovation Index). that the overlap of all these bears a remarkable similarity to the Danger trefoil is perhaps unfortunate.  This approach has very little to do with innovation and a lot to do with how many graduates there are and how much is spent. It is a classic inputs driven approach to evaluating outputs, which is easy for bureaucrats and meaningless in terms of actually fostering improvements. It will foster systemic gaming, as what gets measured gets managed and wha gets managed gets funded.  Within universities there is a push towards making innovation a key element of strategic planning, in some cases with the wholesale repositioning of business schools towards innovation centered units regardless of capacity, competence, ability or interest. IBEC, a lobby group, is to be given a key role, via satisfaction surveys, in the measurement of how universities are adhering to national strategic objectives. Again, I must have missed the debate on whether or not a single member of the Bertie system of social partnership is an appropriate body to be involved in the process of evaluating  Irish education. Why is the happiness of IBEC members more, or less, important than any other? Again we see the wholesale stealth movement of universities away from being handmaidens of knowledge and towards the concubine of industry. When did that debate take place? 

 

CU_handbookWe have seen in parallel over the last decade a growing corporatization of universities. At one level this is not problematic, as these large organizations require professional competent management, but it is a worrying trend. In the US, 40% of the increase in the cost of higher education since 1988 has been attributed to administrative costs. While universities can be run on a for-profit basis there is little desire for this in Ireland, but declining state funds and funding incentives designed to cover up this reduction of resources drive universities towards greater corporate involvement as a requirement for survival. When you are drowning  any port is a haven, regardless of what lurks on land. Irish (especially) domestic and (to some extent) multinational firms have shown little willingness to develop long-term linkages with universities beyond the requirements of public relations and photo opportunities. All too often there is an appearance that short-termism is all that is required, cheerleaded, most sadly, by local representatives and parliamentarians.  

 

bureaucrat1It is also ironic that increasingly bureaucratically managed universities are now expected to lead innovation. In most cases this involves a plethora of committees, new appointments to lead academies and centers, and a host of administrators. A less conducive approach to fostering innovation could hardly be thought of. Those of us that work in universities are aware that  at the bottom of the heap there is a veritable tumult of ideas as to how to improve the student experience, make the system work more effectively, increase research productivity and improve staff morale. By the time these ideas are filtered through the increasing corporate sclerosis that passes for management few ideas if any are discussed not to mind approved. Just try to get a flipped module on the financial crisis and what it tells us about the nature of management responses to crises generally onto the teaching roster in a leading business school and see how far you get …Universities are being managed more and more in a mechanistic, Taylorist manner which is the exact antithesis of how a knowledge organization should be managed. Alas, such methods are attractive to government and funding bureaucrats and provide ample opportunities for academics to move from the coalface of teaching and research to administer and micromanage. Whereas before that would have involved much liasion with students and faculty now exciting vistas of corporate engagement open up. Until and unless a culture of innovation and an acceptance of the need to allow this all across the universities emerges they will not be able to lead any innovative or entrepreneurial charge. Being innovative involves risks. Most university managers are enormously risk averse and so innovation is stifled at birth or filtered through layers of committees until the downside of any risk is spread thin. 

 

nov_pol_pres_lunchHow have we ended up in a situation where the only representative body that will have a role in determining how universities are doing is IBEC? This represents the final capitulation of the government to the concept of universities as having an economic role only. IBEC has as much and as little role in assessing the output and fitness of the higher education sector as do Aosdana, or the ICA or the GAA. Universities exist for and to serve society, not just the economy. IBEC is the last man standing of the Bertite approach to social partnership, and it remains a powerful if shadowy lobby for its members. But the needs of IBEC members, or the wails of ISME, the Continuity SFA about quality are those of a sectoral lobby, nothing more nothing less. There is a clear perception from some recent pronouncements that that quality is narrowly definable as “immediately deployable at work, trained by the taxpayer so that business doesn’t have to incur the cost while reaping the benefit” 

 

transferable_skills1What universities provide graduates with are skills and knowledge.  These can be divided into two kinds – specific and general. The  focus of entrepreneurship education and the growth of innovation hubs is on specific skills, namely, those around innovating and starting a business. The best such recognize that these are in fact different – thinking up an idea and carrying it through require very different skillsets.  Entrepreneurs are risk takers and relish ambiguity and control of their own environment while innovators tend to add to those willingness to change and a restless curiosity. While there is overlap there is also distinction. One of the emergent findings  appears to be that while skills can be taught entrepreneurs may be born, not made.  Sure training can provide skills and techniques for successful carrying on a business, but it is highly debatable as to whether the mindset itself is teachable or learnable. While we devote resources to these specific skills we are of necessity not devoting them to other specific skills or to generic (transferable) skills. Indeed, it is these generic skills, many of which originate at second level, that employers actually value. If someone wants a specialist in finance they will seek someone with ACCA or CFA or CAIA qualifications. They will pay well for these skills but they do not expect (although might like) to have students emerge straight from college with them. What they expect is that students will have the skills in knowledge acquisition, in information processing and in interpersonal skills to allow them gain these subject specific skills and to keep them honed in a lifelong learning environment. These general skills, in mathematical competence, linguistic capacity, reasoning and inference, in juxtaposing theory with practice and linking the specific with the general are of benefit to society not just to IBEC or C-SFA ISME .  Making universities focus more and more on specific skills or chasing political fads is to ensure that universities blur into corporate training centers  and that private rewards are placed before the public good.  Instead of putting scarce resources into the dubious chase to create a generation of entrepreneurs from our universities perhaps recall what it is we want them to create – educated persons with specific skills sufficient to provide them with depth in an area but with a breadth of general skills which will enable them to be valuable members of society. These skills are costly to acquire, both in terms of students time and effort and in terms of the support and infrastructure required to assess their acquisition.  By all means encourage and support students who wish to demonstrate an entrepreneurial bent – but why should universities provide the infrastructure for these when such exist externally, both with public and private provision. I suspect that most of the rather few successful graduates of these accelerators would have found a way towards their aim without a university led and fostered hothouse. In some senses, state supported as they are, these incubators crowd out private competitors. 

 

 knowledgeispowerlicenseplatewebLets reward not just that but also social involvement through perhaps volunteering, or leadership qualities perhaps via sport or mentoring. If knowledge is indeed power a breadth of knowledge is power across a wide range of human endeavors. Lets reward skills in areas such as personal development and extracurricular cognitive skills.  Universities now work on a credit system within the European Credit Transfer System – each year is typically worth 60 credits. Lets mandate that 10 of these must be achieved outside the system. Lets devise a system where the student who achieves a high level in chess is rewarded as is the student who mentors intellectually disabled children, who captains a county or college camogie team or the one who sets up a company. Lets reward breadth of achievement and foster a generation of graduates who are embedded in society not merely aiming to create a generation of reluctant entrepreneurs. Universities are not,should not be made and must not let themselves become innovation bootcamps. 

 

A New Journal – Journal of Behavioral and Experimental Finance

JBEF FINAL Cover Design Aug32012

A New Journal

Journals, for good or ill, represent the preeminent mode of scholarly communication. Publications count, in tenure, research evaluations and as a metric of research activity. Despite alternatives emerging such as post hoc refereeing, the double blind reviewed journal retains its gold standard, and will do for many many years.  Although there are  many journals, the scope, breadth and depth of finance continues to expand. So today we see a new journal.

The Journal of Behavioral and Experimental Finance is aimed at providing authors in these fields with a high quality outlet. There is at present no state of art high-level publication where one can go to obtain up to date examples of quality work in the areas of experimental and behavioral finance. The field is scattered. Bringing it together will, we can hope, act as a  useful resource for scholars, both those active in the field and those interested in how the area impacts.  There are many high quality existing journals that cover experimental economics or behavioral finance but none that act as a natural locus for both.

Experimental finance in particular is growing, with the Society for Experimental Finance having been established in the last number of years.  We believe that creating a journal that is open to experimental treatments of finance subjects will, we hope, generate interest in carrying out such.  At this juncture we  see behavioral and experimental approaches as lenses or methodologies through which to view issues and as such the journal will allow a broad perspective on an increasingly fragmented field. At the limit I agree wholeheartedly with Thaler.

I predict that in the not-too-distant future, the term “behavioral finance” will be correctly viewed as a redundant phrase. What other kind of finance is there? In their enlightenment, economists will routinely incorporate as much “behavior” into their models as they observe in the real world. After all, to do otherwise would be irrational.

We might add to this that finance, as a cognate discipline to economics and accounting, must adopt more scientific approaches to its investigations and must adopt a broader methodological perspective. Economics has seen major advances in adopting experimental approaches and finance is fast doing so. This can only assist in the rigor of our researchers. We are not yet at that shining city on the hill which Thaler saw in 1999, but in the interim I hope that this journal will aid in moving us towards it.

Some may well suggest that we have enough journals, and why start one especially as the top papers will always go to the top journals. A number of points need to be made. First, the existence of better (whatever that means in this context) journals does not make redundant the existence of others. That we have the Sistine Chapel does not make further paintings irrelevant. There is scope for quality product which for whatever reason does not get into or fit the top journals. Second, no journal is born ‘top’. Establishing  a journal is an act of calculated business and hope. The business is that there is a market, the hope is that the board and the authors will drive forward the reputation of the journal to everyone’s advantage. That I intend to do to the best of my ability. Third, in this case there is a clear gap in particular in the experimental area, and that gap deserves to be filled. Also, while there are excellent journals in the behavioral finance area there is none from Elsevier, who have a stable of already top-flight finance journals and the publishing, publication and editorial network to support this new venture.

The Process

The idea for this journal had been discussed amongst a number of persons, both in Elsevier and in the academic community, for about 18m. In February I was asked to put a formal proposal to Elsevier, which I did. This contained the usual things one would expect – details of existing complementary or competing journals, papers published that might perhaps fit the journal, learned societies and conferences in the area, main loci of research etc. The initial response was good therefore we proceeded to get together a draft editorial board (see below) and a more complete proposal was put to Elsevier in April. This was approved in June and we have spent the summer refining the details of the guide for authors, the peculiarities of how we want papers submitted etc. This is and will always be a work in process – as an Editor I have come to understand that there is no right way to guide a paper other than to say “highest quality possible please”. Submission minutiae are important but are secondary to that. In short, expect changes as we engage with the process of generating papers from submissions.

Journal Aims and Scope

The aim of the journal is to publish high quality research in the fields of corporate finance, asset pricing, financial econometrics, international finance, personal financial decision-making, macro-finance, banking and financial intermediation, capital markets, risk management and insurance, derivatives, quantitative finance, corporate governance and compensation, investments, market mechanisms, SME and microfinance and entrepreneurial finance, where such research is carried out with a behavioral perspective and/or is carried out via experimental methods.

The area of behavioral finance and the related area of experimental finance are now fully accepted as mainstream approaches within finance. Behavioral and experimental finance therefore represent lenses and approaches through which we can view financial decision-making. The journal aims to provide a single source for the latest research in these areas. It is open to but not limited to papers which cover investigations of biases, the role of various neurological markers in decision-making, national and organizational culture as it impacts on those organizations financial decision-making, sentiment and asset pricing, the design and implementation of experiments to investigate financial decision-making and trading, methodological experiments,  and natural experiments. Although primarily empirical, we will be more than open to theoretical and methodological papers which cast light on behavioral and experimental topics, as well as to meta analyses, surveys and overviews.

Where is it and who is involved?

The journal site is here  at and papers can be submitted here. The Editorial Board at present consists of the following, but we are actively seeking other persons.

  • Ackert, Lucy  Kennesaw State University, Coles College of Business, USA
  • Aggarwal, Raj The University of Akron, Ohio, USA
  • Asparouhova Elena N, University of Utah,  USA
  • Davies, Greg Head of Behavioral Finance and Investment Philosophy,  Barclays
  • Delaney, Liam   Stirling Management School, University of Stirling, UK
  • Dowling, Michael  Dublin City University Business School, Ireland
  • Goodell, John The University of Akron, Ohio, USA
  • Harmon, Colm  University of Sydney, School of Economics, Australia
  • Henker, Julie Bond University, Queensland, Australia
  • Holm, Håkan Jerker School of Economics and Management, Lund University, Sweden
  • Huber, Jürgen. The University of Innsbruck, Austria
  • Innocenti, Allesandro Experimental Economics Laboratory, University of Siena, Italy
  • Kim, Kenneth, Renmin University, Beijin, China.
  • Kirchler, Michael, The University of Innsbruck, Austria
  • Kramer, Lisa A. Rotman School of Management, University of Toronto, Canada
  • Lau, Morten, Copenhagen Business School Copenhagen Denmark
  • Leoni, Patrick L.  KEDGE, Marseille, France
  • Loncarski, Igor, Faculty of Economics Universty of Ljubjanja, Slovenia
  • Pompian, Michael Mercer Wealth Management, St Louis USA
  • Nawrocki, David, Villanova Univeristy, USA
  • Noussair, Charles, Tilburg University, Netherlands
  • Lunn, Pete  Economic and Social Research Institute Dublin, Ireland
  • Rabin, Matthew Brunel University, London UK
  • Pownall, Rachael , Maastricht University, Netherlands
  • Ricciardi, Victor.  Goucher College, Maryland, USA
  • Santoni, Alessandro, Banca Monte dei Paschi di Siena, Siena, Italy
  • Statman, Meir.  Santa Clara University, Santa Clara USA
  • Viole, Fred OVVO Financial Systems, Holmed, NJ USA
  • Wang, Mei. WHU – Otto Beisheim School of Management , Berlin, Germany
  • Weitzel, Utz. Radboud University Nijmegen, the Netherlands
  •  Zhu, Ning. UC Davis and Shanghai Advanced Institute for Finance, China

Brian Lucey

Founding Editor

For : Journal of Behavioral and Experimental Finance

 

Longlist – not exhaustive – of possible  topics

  • Adaptive Market Hypothesis
  • Adjustment
  • Agent-Based Modeling
  • Altruism
  • Ambiguity
  • Ambiguity Aversion
  • Ambiguity Bias
  • Anchoring
  • Anchoring And Adjustment
  • Anomalies
  • Appropriation
  • Asset Market
  • Asset Market Experiments
  • Assimilation Error
  • Asymmetric Information
  • Asymmetry
  • Attachment Bias
  • Attention
  • Attribution Theory
  • Auctions
  • Availability
  • Bargaining Power
  • Behavioral Biases
  • Behavioral Corporate Finance
  • Behavioral Finance
  • Beliefs
  • Benchmarking
  • Betrayal Aversion
  • Between-Subjects Design
  • Bidding
  • Bounded Rationality
  • Break-Even Effect
  • Bubble
  • Calendar Effects
  • Certainty Effect
  • Charitable Giving
  • Circle Network
  • Classification Game
  • Cognitive Abilities
  • Cognitive Dissonance
  • Cognitive Heuristic
  • Communication
  • Compatibility
  • Competitive Behavior
  • Competitiveness
  • Conditional Cooperation
  • Confirmation Bias/Confirmatory Bias
  • Conservatism Bias
  • Context Dependence
  • Contrarian
  • Cooperation
  • Coordination
  • Coordination Game
  • Corporate Governance
  • Corporate Social Responsibility
  • Cournot Oligopoly
  • Credence Goods
  • Crowding-Out Effect
  • Culture
  • Day Of The Week Effect
  • Decision Making Under Risk
  • Dictator Game
  • Digit Ratio
  • Disjunction
  • Disposition Effect
  • Downside Risk
  • Dynamic Choice
  • Electronic Markets
  • Emotion Regulation
  • Emotions
  • Endowment Effect
  • Equity
  • Expected Utility Theory
  • Experience
  • Experimental Design
  • Experimental Design
  • Experimental Market
  • Experimental Measurement
  • Experimental Methodology
  • Experimental Methods
  • Experimentation
  • Experiments
  • False Discovery Rate
  • False-Consensus Effect
  • Familiarity
  • Field Experiment
  • Financial Decision Making
  • Financial Literacy
  • Flexibility
  • Framing
  • Free-Riding
  • Group Behavior
  • Guessing Game
  • Halloween Effect
  • Happiness
  • Health
  • Heterogeneity
  • Heuristic
  • Hidden Information
  • Hindsight Bias
  • Home Bias
  • Hormones
  • House Money Effect
  • House-Money Effect
  • Household Finance
  • Idiosyncratic Risk Premium
  • Illusion Of Control
  • Illusion Of Knowledge
  • Incentives
  • Incomplete Contracts
  • Individual Behavior
  • Individual Choice
  • Individual Investors
  • Individual Preferences
  • Inequality Aversion
  • Information Quality
  • Information Sharing
  • Information Uncertainty
  • Insurance
  • Intelligence
  • Interdependent Preferences
  • Investment Horizon
  • Investor Characteristics
  • Investor Sentiment
  • Knowledge Attitudes
  • Knowledge Of Economics And Finance
  • Laboratory Experiments
  • Learning
  • Learning From Peers
  • Leniency
  • Level K Model
  • Loss Aversion
  • Loss Aversion
  • Lottery Choice Experiment
  • Magical Thinking
  • Managerial Biases
  • Manipulation
  • Market Composition
  • Market Design
  • Market Efficiency
  • Market Efficiency
  • Matching Market
  • Matching Procedure
  • Meme
  • Mental Accounting
  • Mental Accounting
  • Mental Compartments
  • Mental Health
  • Meta-Study
  • Model Uncertainty
  • Momentum
  • Monetary Incentive
  • Monetary Punishments
  • Monitoring
  • Month-Of-The-Year Effect
  • Moral Suasion
  • Motivation
  • Multiple Equilibria
  • National Culture
  • Natural Experiment
  • Natural Language
  • Neurofinance
  • Newspaper Experiment
  • Non-Cognitive Skills
  • Non-Monetary Punishments
  • Optimism
  • Optimism
  • Over-Optimism
  • Overconfidence
  • Overconfident Behaviour
  • Overreaction
  • Parameter Uncertainty
  • Payoff Tables
  • Peer Groups
  • Persistence
  • Personality
  • Persuasion Effect
  • Plasticity
  • Political Equilibrium
  • Portfolio Choice
  • Portfolio Optimization
  • Portfolio Selection
  • Post-Earnings-Announcement Drift
  • Price Bubbles
  • Pricing Rules
  • Prisoner’s Dilemma
  • Procedural Fairness
  • Prospect Theory
  • Public Goods Experiments
  • Punishment
  • Race
  • Random Incentive System
  • Rationality
  • Real-Time Experiment
  • Real-Time Monitoring
  • Reciprocity
  • Redistribution
  • Reference Point
  • Regret Theory
  • Religion
  • Repeated Games
  • Representiveness
  • Reputation
  • Return Seasonality
  • Risk Aversion
  • Risk Awareness
  • Risk Diversification
  • Risk-Return Tradeoff
  • Salience
  • Sanctions
  • Seasonal Affective Disorder
  • Seasonality
  • Selection Into Experiments
  • Self-Interest
  • Self-Serving Bias
  • Sentiment
  • Session-Effects
  • Shorting
  • Simple And Compound Events
  • Sleep
  • Social Connections
  • Social Distance
  • Social Effects
  • Social Interaction
  • Social Networks
  • Social Networks
  • Social Norms
  • Social Preferences
  • Social Welfare Maximizing
  • Socially Responsible Investing
  • Somatic
  • Sorting
  • Stakeholder Theory
  • Status
  • Status Quo Bias
  • Strategic Behavior
  • Sunk-Cost Effect
  • Technical Trading
  • Tournament Incentives
  • Trading Behavior
  • Trading Performance
  • Trend Chasing
  • Trust Game
  • Ultimatum Game
  • Underreaction
  • Week-Of-The-Month Effect
  • Week-Of-The-Year Effect
  • Well-Being
  • Willingness To Compete
  • Willingness To Pay
  • Within-Subjects Design
  • Yes-No Game