Ph.D., Columbia University; M.B.A., Hebrew University of Jerusalem
Summary of Experience
Professor Statman’s research focuses on behavioral finance. Specifically, he endeavors to understand how investors and managers make financial decisions, and how these decisions are reflected in financial markets. The questions he addresses in his research include what investors want and how to balance those wants; investors’ cognitive and emotional shortcuts, and how to overcome related errors; how these wants, shortcuts, and errors are reflected in saving, spending, and portfolio construction choices; and how these choices are reflected in asset pricing and market efficiency. He has consulted to several investment companies and given presentations on his work worldwide.
Professor Statman’s most recent book is Behavioral Finance: The Second Generation. His research has been published in The Journal of Finance, the Journal of Financial Economics, The Review of Financial Studies, the Journal of Financial and Quantitative Analysis, Financial Analysts Journal, and The Journal of Portfolio Management, among other publications. He is an associate editor of the Journal of Behavioral Finance and the Journal of Investment Management, and also serves on the advisory board of several publications. His research has received several awards – including two Bernstein Fabozzi/Jacobs Levy Awards, the Matthew R. McArthur Industry Pioneer Award, and the William F. Sharpe Best Paper Award – and has been supported by the National Science Foundation, the CFA Institute Research Foundation, and the Investment Management Consultants Association.