Lawrence Jin

Biography

Lawrence J. Jin is an associate professor of finance at the Cornell SC Johnson College of Business and a faculty research fellow at the National Bureau of Economic Research. His research focuses on asset pricing, behavioral finance, neuroeconomics, and household finance. Much of his work studies how biased beliefs and non-traditional preferences affect asset prices, investor behavior, and firm behavior. His recent work begins to incorporate a more fundamental set of ideas from psychology and neuroscience into models of economic and financial decision-making.

Jin's research has been published in the Quarterly Journal of Economics, the Journal of Finance, the Review of Financial Studies, and the Journal of Financial Economics. He has received the Q-Group's Jack Treynor Prize, the AQR Top Finance Graduate Award, the Vernon L. Smith Excellence Award, the MFA Outstanding Paper Award, and Caltech's ASCIT Teaching Award.

Jin received his PhD in financial economics from Yale University in 2015. He holds a BS in mathematics and physics from Tsinghua University and an MS in electrical engineering from California Institute of Technology. Prior to coming to Cornell, Jin was on the faculty at the Division of the Humanities and Social Sciences at CalTech. He also spent two years as a research and trading analyst at Citigroup.

Selected Publications

• Jin, Lawrence; Sui, Pengfei. "Asset Pricing with Return Extrapolation"Journal of Financial Economics. 145.2 (2022): 273-295
• Frydman, Cary; Jin, Lawrence. "Efficient Coding and Risky Choice"Quarterly Journal of Economics. 137.1 (2022): 161-213
• Barberis, Nicholas; Jin, Lawrence; Wang, Baolian. "Prospect Theory and Stock Market Anomalies"Journal of Finance. 76.5 (2021): 2639–2687
• Da, Zhi; Huang, Xing; Jin, Lawrence. "Extrapolative Beliefs in the Cross-Section: What Can We Learn from the Crowds"Journal of Financial Economics. 140.2 (2021): 175-196
• Barberis, Nicholas; Greenwood; Jin, Lawrence; Shleifer, Andrei. "Extrapolation and Bubbles"Journal of Financial Economics. 129.2 (2018): 203-227
• Barberis, Nicholas; Greenwood, Robin; Jin, Lawrence; Shleifer, Andrei. "X-CAPM: An Extrapolative Capital Asset Pricing Model"Journal of Financial Economics. 115.1 (2015): 1-24
• Ingersoll; Jin, Lawrence. "Realization Utility with Reference-Dependent Preferences"Review of Financial Studies. 26.3 (2013): 723-767

Awards and Honors

• Winner, Vernon L. Smith Excellence Award (2023) Society for Experimental Finance and Chapman University
• Teaching Award (2021) Associated Students of the California Institute of Technology (ASCIT)
• Outstanding Paper Award (2019) MFA
• Top Finance Graduate Award (2015)
• Jack Treynor Prize for Research (2014) Q-Group

Recent Courses

• NBA 5980 - Behavioral Finance
• AEM 4230/AEM 5230 - Behavioral Finance

Academic Degrees

• PhD Yale University, 2015
• MS California Institute of Technology, 2006
• BS Tsinghua University, 2005