Working Papers
Information and the Cost of Capital: An Ex-Ante Perspective (with Peter O. Christensen and Gerald A. Feltham), AAA 2009 Financial Accounting and Reporting Section (FARS) Paper (New Orleans, Jan 2009) (2009)
The relationship between the informational environment and the cost of equity capital has received considerable...
Overconfidence in a Career-Concerns Setting, CESifo Working Paper No. 2405, presented at the Workshop on Executive Pay, CESifo Venice Summer Institute, held on July 16 and 17, 2008. (2008)
We study the effects of overconfidence in a two-period investment-decision agency setting. Under common priors,...
Control Under Disagreement, Version submitted for the 3rd Nordic Conference on Behavioral and Experimental Economics, held in Copenhagen on 14-15 November 2008. (2008)
In this paper, I study the effects of overconfidence in an investment-decision agency setting. Principal...
Overconfidence and Moral Hazard, This is a revision to University of Aarhus Economics Working Paper No. 2007-8 and Danish Center for Accounting and Finance (D-CAF) Working Paper No. 24 (2008)
In this paper, I study the effects of overconfidence on incentive contracts in a moral-hazard...
Presentations
Expert Advice, Control, and Heterogeneous Beliefs, Oxford Business and Economics Conference. NOTE: further revisions of this paper are under the title "Control and Disagreement." (2006)
In this paper, I study the effects of overconfidence in an investment-decision setting. A risk-averse...
Opinion
Looking Ahead: an Argument for Setting up the FDRC (2008)
The current financial crisis has been deepened by the fact that investors are very uncertain...