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Hersh Shefrin, Finance Professor

Hersh Shefrin

Hersh Shefrin is the Mario L. Belotti Professor of Finance at Santa Clara University. He is a pioneer in the behavioral approach to economics and finance. The January 2001 issue of CFO Magazine lists Shefrin among the academic stars of finance. A 2003 article in the American Economic Review listed him as one of the top 15 economic theorists to have influenced empirical work. In 2009, Shefrin’s behavioral finance book Beyond Greed and Fear was recognized by J.P. Morgan Chase as one of the top 10 books published since 2000.

His books span the entire financial landscape, describing asset pricing (A Behavioral Approach to Asset Pricing, 2005), how behavioral ideas impact investment (Beyond Greed and Fear, 2007), risk management (Behavioral Risk Management, 2015), and corporate finance (Behavioral Corporate Finance, 2017).

Shefrin received a B.S. (honors) in economics and mathematics from the University of Manitoba in 1970; a Master of Mathematics from the University of Waterloo in 1971; and a Ph.D. from the London School of Economics in 1974. He also holds an honorary doctorate from the University of Oulu, Finland.

The press frequently interviews Shefrin as one of the leaders in the field of behavioral finance, and in February 2014 his work was profiled on BBC-TV.

Two ships face off with each other, one from United States the other from China to illustrate trade war

Playing Trade War Chicken

By Hersh Shefrin
Economists are predicting that the next recession will occur in or around 2020, as the Fed increases interest rates to tamp down an overheated economy...
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Close up of a Tesla supercharger in front of a wood wall

Elon Musk’s Tantrum and Tesla’s Financial Challenges

By Hersh Shefrin
It is nothing short of extraordinary that within the space of a decade, Elon Musk, founder and CEO of Tesla, was able to accelerate Tesla’s stock market...
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A gate with a chain holding the two doors together by a padlock in front of a blurred road and outdoor background

The Theranos Con

By Hersh Shefrin
This April, Theranos laid off all but a sliver of its workforce. This marks a sad event for a medical technology firm whose board once included...
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A Venn diagram with the word strategy written on an arm holding a wrench meeting in the middle of three circles

How to Avoid Making a Bad Situation Worse

By Hersh Shefrin
One sixth of all the prescriptions written in this country are for drugs produced by the Israel-based pharmaceutical firm Teva. For Teva, that...
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Nobel Peace Prize Medal

Economics Nobel Prize Recognizes Behavioral Transformation of Economics

By Hersh Shefrin
On Dec. 9, behavioral economist Richard Thaler will be awarded the Nobel Prize in Economics. For many reasons, this event is special. The award is for...
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Person holding a phone with the Uber app open

On Steroids: Uber's Wild Psychological Ride

By Hersh Shefrin
Uber dramatically disrupted the global taxi industry in less than a decade. Now, former Uber engineer Susan Fowler has disrupted Uber by blogging about being...
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