Conference on Social and Behavioral Finance
Conference on Social and Behavioral Finance
Social finance is the study of the social processes that shape economic and financial thinking and behavior. This emerging field recognizes the elemental facts people observe and talk to each other, and care about what others say and do. For a more detailed description, click here.
CONFERENCE CO-CHAIRS
David Hirshleifer is Robert G. Kirby Chair in Behavioral Finance, a Fellow and former-President of the American Finance Association, and an associate of the NBER. He served as Executive Editor of the Review of Financial Studies, director of the American and Western Finance Associations, and as an editor at other leading finance, economics, and business journals. His Presidential Address to the American Finance Association advocates an emerging paradigm, social economics and finance, which studies how the social transmission of ideas, information and behavior affects markets. His research has won distinguished awards, and he has been keynote speaker at many conferences internationally.
Professor Daniel Gottlieb’s research interests focus on the theory of contracts and behavioural economics, especially as they apply to insurance markets. His research blends theory with field experiments, lab experiments, and observational data. His work has been published in the American Economic Review, Econometrica, the Journal of Political Economy, the Review of Financial Studies, the Journal of Financial Economics, and many other journals. He has served on the editorial boards of the American Economic Review, Economica, the Geneva Risk and Insurance Review, the Review of Economic Design, the Journal of Risk and Insurance, and the Journal of Economic Behavior and Organization.
Papers
RELATED
Social Media and Finance
Social media has become an integral part of the financial information environment, changing the way financial information is produced, consumed and distributed. This article surveys the financial social media literature, distinguishing between research using social media as a lens to shed light on more general financial behavior and research exploring the effects of social media on financial markets. We also review the social media data landscape.
Presidential Address: Social Transmission Bias in Economics and Finance
This emerging field recognizes that people observe and talk to each other. A key, underexploited building block of social economics and finance is social transmission bias: systematic directional shift in signals or ideas induced by social transactions. I use five “fables” (models) to illustrate the novelty and scope of the transmission bias approach, and offer several emergent themes. For example, social transmission bias compounds recursively, which can help explain booms, bubbles, return anomalies, and swings in economic sentiment.
Social and Economic Networks
Networks of relationships help determine the careers that people choose, the jobs they obtain, the products they buy, and how they vote. The many aspects of our lives that are governed by social networks make it critical to understand how they impact behavior, which network structures are likely to emerge in a society, and why we organize ourselves as we do.
