Thorsten Hens
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Economics
Thorsten Hens's Degrees
- PhD Economics University of Zurich
Why Is Thorsten Hens Influential?
(Suggest an Edit or Addition)According to Wikipedia, Thorsten Hens is a German and Swiss economist and finance academic. According to the Handelsblatt ranking, Hens is among the top 10 economics professors in the German-speaking area . Biography Hens is Swiss Finance Institute Professor of Financial Economics and director of the Swiss Banking Institute at the University of Zürich, Switzerland as well as a Fellow of Centre for Economic Policy Research and an Adjunct Professor of Finance at the Norwegian School of Economics and Business Administration in Bergen.
Thorsten Hens's Published Works
Number of citations in a given year to any of this author's works
Total number of citations to an author for the works they published in a given year. This highlights publication of the most important work(s) by the author
Published Works
- Handbook of Financial Markets: Dynamics and Evolution (2009) (242)
- Risk Preferences Around the World (2015) (234)
- How Time Preferences Differ: Evidence from 53 Countries (2011) (190)
- Does Prospect Theory Explain the Disposition Effect? (2005) (180)
- Market Selection and Survival of Investment Strategies (2001) (153)
- MARKET SELECTION OF FINANCIAL TRADING STRATEGIES: GLOBAL STABILITY (2002) (134)
- Evolutionary stable stock markets (2003) (108)
- Evolutionary stability of portfolio rules in incomplete markets (2005) (96)
- The Impact of Culture on Loss Aversion (2017) (91)
- Two Paradigms and Nobel Prizes in Economics: A Contradiction or Coexistence? (2011) (91)
- Making prospect theory fit for finance (2006) (91)
- Soft Landing of a Stock Market Bubble. An Experimental Study (2002) (86)
- Improving Investment Decisions with Simulated Experience (2014) (84)
- An Evolutionary Approach to Financial Innovation (2000) (83)
- Financial Innovation, Communication and the Theory of the Firm (2000) (72)
- An Application of Evolutionary Finance to Firms Listed in the Swiss Market Index (2002) (71)
- An Extension of Mantel (1976) to Incomplete Markets (2001) (66)
- The Transfer Paradox and Sunspot Equilibria (2001) (65)
- Financial Economics: A Concise Introduction to Classical and Behavioral Finance (2010) (62)
- Three Solutions to the Pricing Kernel Puzzle (2012) (61)
- Evolution of Portfolio Rules in Incomplete Markets (2001) (60)
- Evolutionary Finance (2008) (58)
- Globally Evolutionarily Stable Portfolio Rules (2007) (56)
- Prospect Theory Around the World (2011) (55)
- Markets Do Not Select for a Liquidity Preference as Behavior Towards Risk (2002) (55)
- Prospect theory and the CAPM : a contradiction or coexistence? (2003) (54)
- On the Micro-Foundations of Money: The Capitol Hill Baby-Sitting Co-Op (2002) (52)
- The Impact of Monetary Policy on Stock Market Bubbles and Trading Behavior: Evidence from the Lab (2012) (51)
- Behavioural Finance For Private Banking (2008) (51)
- Can utility optimization explain the demand for structured investment products? (2014) (49)
- The leverage effect without leverage (2009) (46)
- Estimating cumulative prospect theory parameters from an international survey (2017) (46)
- Computational aspects of prospect theory with asset pricing applications (2006) (46)
- Financial Market Equilibria with Cumulative Prospect Theory (2009) (41)
- On Uniqueness of Equilibria in the CAPM (2000) (37)
- Existence of CAPM Equilibria with Prospect Theory Preferences (2004) (34)
- Limits to Arbitrage When Market Participation is Restricted (2003) (34)
- Existence of Sunspot Equilibria and Uniqueness of Spot Market Equilibria: The Case of Intrinsically Complete Markets (2004) (32)
- The war puzzle: contradictory effects of international conflicts on stock markets (2011) (31)
- Excess Demand Functions and Incomplete Markets (1996) (30)
- Capital Growth Theory (2015) (29)
- An International Survey on Time Discounting (2009) (29)
- Evolutionary finance and dynamic games (2010) (25)
- Competitive nash equilibria and two period fund separation (2003) (25)
- Risk Aversion in the Large and in the Small (2011) (24)
- Prospect Theory and Mean-Variance Analysis: Does it Make a Difference in Wealth Management? (2009) (24)
- Evolutionary Behavioral Finance (2016) (23)
- Investment Competence and Advice Seeking (2014) (23)
- Cumulative Prospect Theory and Mean Variance Analysis: A Rigorous Comparison (2014) (21)
- The Survival Assumption and Existence of Competitive Equilibria When Asset Markets are Incomplete (1996) (21)
- Gross substitution in financial markets (1995) (20)
- Evolutionary finance: introduction to the special issue (2005) (20)
- Two remarks on the uniqueness of equilibria in the CAPM (2002) (20)
- A Note on Reward-Risk Portfolio Selection and Two-Fund Separation (2010) (19)
- The Great Capitol Hill Baby Sitting Co-Op: Anecdote or Evidence for the Optimum Quantity of Money? (2006) (19)
- Do Sunspots Matter when Spot Market Equilibria are Unique (2000) (17)
- A Behavioral Foundation of Reward-Risk Portfolio Selection and the Asset Allocation Puzzle (2008) (16)
- Explaining the demand for structured financial products: survey and field experiment evidence (2010) (16)
- Local stability analysis of a stochastic evolutionary financial market model with a risk-free asset (2011) (16)
- Disaggregation of excess demand and comparative statics with incomplete markets and nominal assets (1999) (15)
- Challenges of integration complexity and evolution into economics (2016) (15)
- Exchange rates and oligopoly (1999) (15)
- General equilibrium foundations of finance (2002) (15)
- On the determinants of household debt maturity choice (2014) (15)
- Evolutionary Behavioural Finance (2015) (14)
- Structure of general equilibrium models with incomplete markets and a single consumption good (1991) (14)
- An evolutionary explanation of the value premium puzzle (2010) (13)
- How Persistent are the Effects of Experience Sampling on Investor Behavior? (2018) (12)
- CAPM Equilibria with Prospect Theory Preferences (2011) (12)
- International Evidence on the Equity Premium Puzzle and Time Discounting (2013) (11)
- Mathematical Financial Economics: A Basic Introduction (2015) (11)
- Exchange rates and perfect competition (1994) (11)
- General Equilibrium Foundations of Finance: Structure of Incomplete Markets Models (2010) (11)
- An evolutionary finance model with short selling and endogenous asset supply (2017) (10)
- Digital Banking 2025 (2017) (10)
- A note on Savage's theorem with a finite number of states (1992) (10)
- Existence of Equilibria (2002) (10)
- Strategic asset allocation and market timing: a reinforcement learning approach (2006) (9)
- Rational Investor Sentiment (2002) (9)
- The Leverage Efiect without Leverage: An Experimental Study ⁄ (2006) (9)
- Survival and Evolutionary Stability of the Kelly Rule (2009) (9)
- Behavioral Finance for Private Banking (2018) (8)
- Market Demand Functions in the Capital Asset Pricing Model (1998) (8)
- The Dark Side of the Moon: Structured Products from the Customers' Perspective (2008) (8)
- Why do Investors Buy Structured Products? (2009) (8)
- Stability of Tâtonnement processes of short period equilibria with rational expectations (1997) (8)
- Survival of the Fittest on Wall Street (2004) (8)
- An Evolutionary Portfolio Theory (2001) (8)
- Mathematical Financial Economics (2015) (7)
- Behavioral Equilibrium and Evolutionary Dynamics in Asset Markets (2020) (7)
- Sunspot equilibria and the transfer paradox (2004) (7)
- Nash competitive equilibria and two-period fund separation (2004) (7)
- Prospect Theory and the Size and Value Premium Puzzles (2005) (7)
- A rigorous approach to business services offshoring and North–North trade (2016) (7)
- Capital Asset Pricing Model (CAPM) (2015) (7)
- Value and Patience: The Value Premium in a Dividend-Growth Model with Hyperbolic Discounting (2013) (6)
- Universal Time Preference (2020) (6)
- Evolution in pecunia (2020) (6)
- Which Measures Predict Risk Taking in a Multi-Stage Controlled Decision Process? (2016) (6)
- Market Demand Functions in the CAPM (1996) (6)
- Is there Swissness in investment decision behavior and investment competence? (2016) (6)
- Modelling Alpha-Opportunities Within the CAPM (2006) (5)
- Patience is a Virtue - In Value Investing (2018) (5)
- Dynamic General Equilibrium and T-Period Fund Separation (2006) (5)
- Rational investor sentiment in a repeated stochastic game with imperfect monitoring (2010) (5)
- Sunspot Equilibria in Finite Horizon Models with Incomplete Markets (1992) (5)
- Evolutionary stable investment in stock markets (2003) (4)
- Behavioural heterogeneity in the capital asset pricing model with an application to the low-beta anomaly (2020) (4)
- Money and Reciprocity (2003) (4)
- An evolutionary finance model with a risk-free asset (2017) (4)
- Front‐Running and Market Quality: An Evolutionary Perspective on High Frequency Trading (2018) (4)
- Financial Valuation and Risk Management Working Paper No . 317 Jensen ’ s Alpha in the CAPM with Heterogeneous Beliefs (2009) (3)
- Nash equilibrium strategies and survival portfolio rules in evolutionary models of asset markets (2017) (3)
- Escaping the Backtesting Illusion (2020) (3)
- Do Risk Simulations Lead to Persistently Better Investment Decisions (2016) (3)
- The war puzzle: contradictory effects of international conflicts on stock markets (2014) (2)
- Coordination in a Repeated Stochastic Game with Imperfect Monitoring (2006) (2)
- Behavioural Finance and Investment Advice (2010) (2)
- Cultural Finance (2020) (2)
- An evolutionary finance model with a risk-free asset (2020) (2)
- Two-Period Model: State-Preference Approach (2007) (2)
- Which measures predict risk taking in a multi-stage controlled investment decision process? (2018) (2)
- Economic Foundations for Finance (2019) (2)
- Modelling alpha in a CAPM with heterogenous beliefs (2017) (2)
- Mean-Variance Portfolio Analysis: The Markowitz Model (2015) (2)
- Theory Matters for Financial Advice! (2014) (2)
- Decision Theory Matters for Financial Advice (2018) (2)
- Indirect reciprocity and money (2010) (2)
- Optimal Product Design: A CAPM Approach (2006) (1)
- Extension of the Model to Exhaustible Resources (2019) (1)
- Extension of the Model to Uncertainty (2019) (1)
- An evolutionary finance model with short selling and endogenous asset supply (2020) (1)
- Bewusster anlegen mit Evolutionary Finance (2015) (1)
- An Evolutionary Financial Market Model with a Risk- Free Asset (2010) (1)
- Problems and Exercises I (2015) (1)
- On Choquet prices in a GEI-model with intermediation costs (2000) (1)
- Life Cycle Planning (2012) (1)
- Financial intermediation and the welfare theorems in incomplete markets (2020) (1)
- FRONT MATTER (2020) (0)
- Problems and Exercises III (2015) (0)
- Explaining the demand for structured financial products: survey and field experiment evidence (2012) (0)
- BACK MATTER (2020) (0)
- Extension of the Model to an Infinite Horizon (2019) (0)
- Time-Continuous Model (2007) (0)
- Slanina, František: Essentials of econophysics modelling. (2014) (0)
- 7 Information Asymmetries on Financial Markets (2019) (0)
- Structure of GEI-Excess Demand (2002) (0)
- Factor Models and the Ross-Huberman APT (2015) (0)
- Capital Growth Theory: Continued (2015) (0)
- Behavioral Equilibrium and Evolutionary Dynamics (2015) (0)
- The Survival Assumption and the Existence of Competitive Equilibria with Incomplete Markets (1996) (0)
- Application of the nofdp IDSS for designing nature-oriented flood protection measures in the Mümling River catchment. (2009) (0)
- Is there Swissness in investment competence (2013) (0)
- Dynamic Asset Allocation (2012) (0)
- Financial Valuation and Risk Management Working Paper No . 247 Does Prospect Theory Explain the Disposition Effect ? (2005) (0)
- On the Structure of Market Excess Demand in an Intertemporal General Equilibrium Model (1990) (0)
- Is there Swissness in investment decision behavior and investment competence? (2016) (0)
- Decision Theory Matters for Financial Advice (2017) (0)
- Earnings Management and Managerial Compensation (2013) (0)
- Financial Markets and Institutions (2019) (0)
- A characterization of subjective expected utility in a model with a continuum of consequences and a finite number of states (1989) (0)
- Wann Monumentum, wann Value? (2012) (0)
- The Basic Economic Model (2019) (0)
- ROBERT ENGLE and STEPHEN FIGLEWSKI / Modeling the Dynamics of Correlations among Implied Volatilities (2015) (0)
- Stability of general equilibria with incomplete markets: The case of mutual fund (1992) (0)
- 1 Introduction (2019) (0)
- The Cox–Ross–Rubinstein Binomial Model (2015) (0)
- Slanina, František: Essentials of econophysics modelling. (2014) (0)
- 3 Two-Period Model: Mean-Variance Approach (2019) (0)
- Home Bias and Ambiguity Aversion (2020) (0)
- Stefan Nagel: Machine learning in asset pricing (2022) (0)
- Time Preferences and Migration (2020) (0)
- The Model and Some Fundamentals (2002) (0)
- Personality Traits and Investment Styles (2022) (0)
- Financial Market Equilibria with Cumulative Prospect Theory Preferences (2010) (0)
- How Politics Affects Time Preferences: The Case of Eastern Europe (2020) (0)
- Solutions to Financial Economics (2019) (0)
- General Equilibrium Analysis of Financial Markets (2015) (0)
- Book Reviews (1997) (0)
- Evolutionary Finance for Multi-Asset Investors (2022) (0)
- Financial Valuation and Risk Management Working Paper No . 866 Theory Matters for Financial Advice ! (2013) (0)
- Solution to the Markowitz Optimization Problem (2015) (0)
- Uniqueness of Competitive Equilibria in the Arrow-Debreu Model (2002) (0)
- Multiple-Periods Model (2016) (0)
- Structured Wealth Management Process (2012) (0)
- Extension of the Model to Capital (2019) (0)
- Understanding the current global regime shift and the standing of the macro-financial system resilience (2023) (0)
- How Gender Effects Differ Between Countries (2020) (0)
- Universitet Market Selection and Survival of Investment Strategies (2018) (0)
- A Risk-Reward Perspective on Prospect Theory with Application to the Asset Allocation Puzzle ⁄ (2006) (0)
- Risk-Neutral Pricing (2015) (0)
- Excess Demand with Incomplete Markets (1993) (0)
- 1 Introduction (2019) (0)
- Existence and Uniqueness in the CAPM with a Riskless Asset (1996) (0)
- Experimental Research on Retirement Decision-Making: Evidence from Replications (2023) (0)
- Properties of Efficient Portfolios (2015) (0)
- Markets do not select for a liquidity (2002) (0)
- Strategic Allocation to Return Factors (2017) (0)
- Evolutionary finance: A model with endogenous asset payoffs (2022) (0)
- Efficient Portfolios in a Market with a Risk-Free Asset (2015) (0)
- 2 Decision Theory (2019) (0)
- The Markowitz Model with a Risk-Free Asset (2015) (0)
- Financial Valuation and Risk Management Working Paper No . 604 Three Solutions to the Pricing Kernel Puzzle Thorsten Hens (2011) (0)
- Experimental Research on Retirement Decision-Making: Evidence from Reproductions (2022) (0)
- Problems and Exercises II (2015) (0)
- Strategic Complementarity and Substitutability of Investment Strategies (2022) (0)
- Time Discounting and the Value Premium (2020) (0)
- nofdp IDSS - a free software product for designing nature-oriented flood protection measures. (2009) (0)
- Stefan Nagel: Machine learning in asset pricing (2022) (0)
- On the Micro-foundations of Money (2018) (0)
- Dynamic Securities Market Model (2015) (0)
- 6 Theory of the Firm (2019) (0)
- Information Asymmetries on Financial Markets (2007) (0)
- Financial Valuation and Risk Management Working Paper No . 731 Prospect Theory around the World (2011) (0)
- Behavioral Heterogeneity in the CAPM with an Application to the Low-Beta Anomaly (2019) (0)
- Theory of the Firm (2016) (0)
- Behavioural Biases - Vorsicht, Falle! (2012) (0)
- Risk Preferences in Eastern and Western Europe (2020) (0)
- A Theoretical Analysis of the Mean Slutsky-Income Effect in the CAPM (2001) (0)
- Correction to: Behavioral heterogeneity in the CAPM with evolutionary dynamics (2022) (0)
- On the Stability of Intertemporal Equilibria with Rational Expectations (1994) (0)
- Nash equilibrium strategies and survival portfolio rules in evolutionary models of asset markets (2020) (0)
- Estimating cumulative prospect theory parameters from an international survey (2016) (0)
- Factor Investing - Von der Innovation zum Industriestandard (2017) (0)
- Financial Markets (2020) (0)
- A world of biases and anomalies (2011) (0)
- 8 Time-Continuous Model (2019) (0)
- 4 Two-Period Model: State-Preference Approach (2019) (0)
- Two-Period Model: Mean-Variance Approach (2007) (0)
- Portfolio Selection: Introductory Comments (2015) (0)
- 5 Multiple-Periods Model (2019) (0)
- A { 465 On the Stability of Intertemporal Equilibriawith Rational Expectations " byThorsten Hens (0)
- Front-Running and Market Quality: An Evolutionary Perspective on High Frequency Trading (2017) (0)
- The Earnings Game with Behavioral Investors (2008) (0)
- From Binomial Model to Black–Scholes Formula (2015) (0)
- What Do We Measure When We Measure Time Discounting? The Impact of Wealth, Growth Rate and Financial Market Accessibility (2020) (0)
- The Index-Theorem (2002) (0)
- American Derivative Securities (2015) (0)
- Behavioral finance in the era of Covid-19 (2021) (0)
- Uniqueness of Competitive Equilibria in the Finance GEI-Model (2002) (0)
- Introduction — Experiences from a Global Survey (2020) (0)
- Solutions to Financial Economics: Exercises on Classical and Behavioral Finance (2019) (0)
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