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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, market microstructure, and asset pricing

Teaching Experience

2010-2012	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

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 - 2012)
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.

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

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

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

Tetlock, Paul C., 2009, “Liquidity and Prediction Market Efficiency,” revise and resubmit at 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.”

Current Projects

“Why Do Investors Trade?” with Eric K. Kelley

“Retail Short Selling,” with Eric K. Kelley

Selected Press Articles about My Research

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

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”

Refereed Policy Publications

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

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.