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Positions Held

Roger F. Murray Associate Professor of Finance, Columbia University, 2008–present

Visiting Assistant Professor of Finance, Yale University, 2007–2008

Assistant Professor of Finance, University of Texas at Austin, 2004–2008

Graduate Studies

Ph.D., Economics, Harvard University, 2004
Thesis Title: “Investors’ Expectations in Financial Markets”
Committee Members: Professors David Laibson (Chair), John Campbell, and Jeremy Stein

Undergraduate Studies

B.S., Mathematical Economics, Harvey Mudd College, 1999, Class Rank: 1st
Minors in Mathematics and Chemistry

Teaching and Research Interests

Behavioral finance, asset pricing, and market microstructure

Teaching Experience

2010-2013

Capital Markets and Investments, Columbia University

2008

Behavioral Finance, Yale University

2005-2007

Investment Management, University of Texas

2002

Behavioral Economics, Harvard University (Teaching Fellow)

Honors, Fellowships, and Grants

2013

George S. Eccles Research Award

2008

Whitebox Grant for Behavioral Finance Research

2007

Winner of the Smith Breeden Prize awarded by the Journal of Finance
2003-2004 Earle A. Chiles Fellowship, Harvard University
Spring 2002 Distinction in Teaching, Derek Bok Center, Harvard University
2001-2002 John Kenneth Galbraith Prize, Harvard University
1999-2002 National Science Foundation Graduate Research Fellow

Selected Professional Service

Referee for American Economic Review, Econometrica, Quarterly Journal of Economics, Journal of Finance, Review of Financial Studies, Journal of Financial Economics, National Science Foundation, Review of Economic Studies, Review of Economics and Statistics, Journal of Financial and Quantitative Analysis, Journal of Financial Markets, Accounting Review, and more

Program Committee, Western Finance Association (2008 - 2013)
Cross-disciplinary Area, Advisory Board, Columbia Business School
Heilbrunn Center for Value Investing, Advisory Board, Columbia Business School
Service on Committees (Recruiting and Faculty Computing), Columbia Business School
Service on Committees (PhD Program), University of Texas at Austin

Selected Seminars and Conference Presentations

AEA, AFA, AQR Capital, BGI, Boston College, Brookings Institute, Chicago, Columbia, Dartmouth, DC Fed, Emory, Five Star, GSAM, Harvard, HKUST Asset Pricing, INSEAD, LBS, LSE, Maryland, Michigan, MIT, NBER Behavioral, NBER Microstructure, Northwestern, Notre Dame, NY Fed, NYU Microstructure, NYU Stern, Princeton, Rice, SEC, SIFR, Stanford, Texas, Texas Finance Festival, Toronto, UC Berkeley, UC Davis, UNC, Virginia, WFA, Wharton, Yale

Published Finance Research

Alti, Aydogan and Paul C. Tetlock, 2013, “Biased Beliefs, Asset Prices, and Investment: A Structural Approach,” Journal of Finance, forthcoming.

Ang, Andrew, Assaf A. Shtauber, and Paul C. Tetlock, 2013, “Asset Pricing in the Dark: The Cross Section of OTC Stocks,” Review of Financial Studies, forthcoming.

Kelley, Eric K. and Paul C. Tetlock, 2013, “How Wise Are Crowds? Insights from Retail Orders and Stock Returns,” Journal of Finance 68, 1229-1265.

Tetlock, Paul C., 2011, “All the News That’s Fit to Reprint: Do Investors React to Stale Information?” Review of Financial Studies 24, 1481-1512.

Tetlock, Paul C., 2010, “Does Public Financial News Resolve Asymmetric Information?” Review of Financial Studies 23, 3520-3557.

Tetlock, Paul C., Maytal Saar-Tsechansky, and Sofus Macskassy, 2008, “More Than Words: Quantifying Language to Measure Firms’ Fundamentals,” Journal of Finance, 63, 1437-1467.

Tetlock, Paul C., 2007, “Giving Content to Investor Sentiment: The Role of Media in the Stock Market,” Journal of Finance 62, 1139-1168. (Winner of the Smith Breeden Prize)

Finance Working Papers

Kelley, Eric K., and Paul C. Tetlock, 2013, “Why Do Investors Trade?” revision requested by the Journal of Finance.

Kelley, Eric K., and Paul C. Tetlock, 2013, “Retail Short Selling and Stock Prices.”

Tetlock, Paul C., 2009, “Liquidity and Prediction Market Efficiency,” revision requested by the Review of Financial Studies.

Tetlock, Paul C. and Robert W. Hahn, 2008, “Optimal Liquidity Provision for Decision Makers.”

Tetlock, Paul C., 2004, “How Efficient Are Information Markets? Evidence from an Online Exchange.”

Selected Press Articles about My Research

The Economist, Economics Focus, “In a Sentimental Mood.”

Forbes, Wall Street, “Investing on the News: By the Time You Read It, It's Too Late.”

U.S. News & World Report, Best in Business, “How Words Can Hurt… Stocks.”

New York Times, Op-ed, “Short Odds for Ignorance.”

Wall Street Journal, Op-ed, “When Gambling Is Good.”

Published Economics and Policy Research

Fox, Merrit B., Lawrence R. Glosten, and Paul C. Tetlock, 2010, “Short Selling and the News: A Preliminary Report on an Empirical Study” New York Law School Review 54, 645-682.

Hahn, Robert W. and Paul C. Tetlock, 2008, “Has Economic Analysis Improved Regulatory Decisions?” Journal of Economic Perspectives 22, 67-84.

Many authors (original draft by Robert W. Hahn and Paul C. Tetlock), 2008, “The Promise of Prediction Markets” Science 320, 877-878.

Hahn, Robert W. and Paul C. Tetlock, 2006, “A New Approach for Regulating Information Markets,” Journal of Regulatory Economics 29, 265-281.

Hahn, Robert W. and Paul C. Tetlock, 2005, “Using Information Markets to Improve Decision Making” Harvard Journal of Law and Public Policy 28, 213-289.

Hahn, Robert W. and Paul C. Tetlock, 2000, “Should You Be Allowed to Use Your Cellular Phone While Driving?” Regulation 23, 46-55.