Tom Chang

Associate Professor of Finance and Business Economics
Room / Office


Tom Y. Chang is an associate professor of Finance and Business Economics at the USC Marshall School of Business, a research fellow at the Schaeffer Center for Health Policy and Economics and a CESR fellow at the USC Dornsife Center for Economic and Social Research. His research focuses on behavioral economics, corporate finance, applied microeconomics and industrial organization. His current research focuses on better understanding individual decision making and its implications for firm behavior. His work has been covered by the Associated Press, Bloomberg, CBS News, CNN, The Economist, The Financial Times, The Los Angeles Times, NPR, CBC/Radio-Canada, Psychology Today, PBS Newshour and The Washington Post.

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Chang, Tom.,Jacobson, Mireille. () "Going to Pot? The Impact of Dispensary Closures on Crime", CATO Institute.
Chang, Tom.,Graff-Zivin, Joshua.,Gross, Tal.,Neidell, Matthew. () "The Effect of Pollution on Worker Productivity: Evidence from Call-Center Workers in China", AEJ: Applied Economics.
Chang, Tom.,Jacobson, Mireille. () "When a Retail Store Closes, Crime Increases Around It", Harvard Business Review.
Chang, Tom. () "Going to Pot? Medical Marijuana Dispensaries and Crime", Journal of Urban Economics, 100.
Wang, Yongxiang.,Chang, Tom.,Huang, Wei. () " Something in the Air: Projection Bias and the Demand for Health Insurance", Review of Economic Studies.
Chang, Tom.,Graff-Zivin, Joshua.,Gross, Tal.,Neidell, Matthew. () "Air Pollution is Making Office Workers Less Productive", Harvard Business Review.
Chang, Tom.,Jacobson, Mireille. () "What Do Not-For-Profit Hospitals Maximize? Evidence from California's Seisemic Retrofit Mandate".
Chang, Tom.,Schoar, Antoinette. () "Judge Specific Difference in Chapter 11 and Firm Outcomes".
Chang, Tom.,Hartzmark, Samuel.,Solomon, David. () "Being Surprised by the Unsurprising: Earnings Seasonality and Stock Returns", Review of Financial Studies.
Solomon, David.,Chang, Tom. () "Looking for Someone to Blame: Delegation, Cognitive Dissonance and the Disposition Effect", Journal of Finance, 71.
Chang, Tom.,Gross, Tal. () "How Many Pears Would a Pear Packer Pack if a Pear Packer Could Pack Pears at Quasi-Exogenously Varying Piece Rates?", Journal of Economic Behavior & Organization, 99, 1-17.
Chang, Tom.,Jacobson, Mireille. () "Eyes Upon the Street: Do Busy Places Have Less Crime".
Chang, Tom.,Jacobson, Mireille. () "Natural Disaster Management: Earthquake Risk and Hospitals' Provision of Essential Services in California", Regulation versus Litigation: Perspectives from Economics and Finance, 11.
Chang, Tom.,Mullainathan, Sendhil.,Shafir, Eldar. () "Experiments in Choice: An Experimental Evaluation of Discrete-Choice Models of Product Differentiation".
Chang, Tom. () "Categorical Consideration: Evidence and Market Implications".