All Publications

ZORA Publication List

Publications

• Journal Article

  • 2024

    • Hens, Thorsten; Trutwin, Ester (2024). Modelling sustainable investing in the CAPM. Annals of Operations Research:Epub ahead of print.

  • 2023

    • Bachmann, Kremena; Hens, Thorsten; Lot, Andre; Xu, Xiaogeng (2023). Experimental research on retirement decision-making: evidence from replications. Journal of Banking and Finance, 152:106851.
    • Evstigneev, Igor V; Hens, Thorsten; Javad Vanaei, Mohammad (2023). Evolutionary Finance: A model with endogenous asset payoffs. Journal of Bioeconomics, 25:117-143.

  • 2022

    • Hens, Thorsten; Schnetzer, Michael (2022). Evolutionary Finance for Multi-Asset Investors. Financial Analysts Journal, 78(3):115-127.
    • Hens, Thorsten (2022). Stefan Nagel: Machine learning in asset pricing. Journal of Economics, 136:91-92.
    • Bettzüge, Marc Oliver; Hens, Thorsten; Zierhut, Michael (2022). Financial intermediation and the welfare theorems in incomplete markets. Economic Theory, 73(2-3):457-486.
    • Hens, Thorsten; Amir, Rabah; Evstigneev, Igor V; Belkov, Sergei (2022). An evolutionary finance model with short selling and endogenous asset supply. Economic Theory, 73:655-677.
    • Hens, Thorsten; Naebi, Fatemeh (2022). Behavioral heterogeneity in the CAPM with evolutionary dynamics. Journal of Evolutionary Economics, 32:1499-1521.

  • 2021

    • Amir, Rabah; Evstigneev, Igor V; Hens, Thorsten; Potapova, Valeriya; Schenk-Hoppé, Klaus Reiner (2021). Evolution in pecunia. Proceedings of the National Academy of Sciences of the United States of America, 118(26):e2016514118.
    • Hens, Thorsten; Rieger, Marc O; Wang, Mei (2021). Universal time preference. PLoS ONE, 16(2):e0245692.
    • Hens, Thorsten; Naebi, Fatemeh (2021). Behavioural heterogeneity in the capital asset pricing model with an application to the low-beta anomaly. Applied Economics Letters, 28(6):501-507.

  • 2020

    • Evstigneev, Igor; Hens, Thorsten; Potapova, Valeriya; Schenk-Hoppé, Klaus Reiner (2020). Behavioral Equilibrium and Evolutionary Dynamics in Asset Markets. Journal of Mathematical Economics, 91:121-135.
    • Hens, Thorsten; Schenk-Hoppé, Klaus-Reiner (2020). Patience Is a Virtue: In Value Investing. International Review of Finance, 20(4):1019-1031.
    • Belkov, Sergei; Evstigneev, Igor V; Hens, Thorsten (2020). An Evolutionary Finance Model with a Risk-Free Asset. Annals of Finance, 16:593-607.
    • Hens, Thorsten; Schindler, Nilüfer (2020). Value and patience: The value premium in a dividend-growth model with hyperbolic discounting. Journal of Economic Behavior & Organization, 172:161-179.
    • Hens, Thorsten; Schenk-Hoppé, Klaus Reiner; Woesthoff, Mathis-Hendrik (2020). Escaping the Backtesting Illusion. Journal of Portfolio Management, 46(4):81-93.
    • Belkov, Sergei; Evstigneev, Igor V; Hens, Thorsten; Xu, Le (2020). Nash equilibrium strategies and survival portfolio rules in evolutionary models of asset markets. Mathematics and Financial Economics, 14:249-262.

  • 2019

    • Bradbury, Meike A S; Hens, Thorsten; Zeisberger, Stefan (2019). How Persistent are the Effects of Experience Sampling on Investor Behavior?. Journal of Banking and Finance, 98:61-79.
    • Hens, Thorsten; Ritter, Andreas (2019). Mystery Shopping als Teil der Compliance - Am Beispiel des Bilanz Private Banking Rating. Schweizerische Zeitschrift für Wirtschafts- und Finanzmarktrecht (SZW), (6):568-581.

  • 2018

    • Hens, Thorsten; Lensberg, Terje; Schenk-Hoppé, Klaus Reiner (2018). Front-Running and Market Quality: An Evolutionary Perspective on High Frequency Trading. International Review of Finance, 18(4):727-741.
    • Hens, Thorsten; Mayer, János (2018). Decision Theory Matters for Financial Advice. Computational Economics, 52(1):195-226.
    • Bachmann, Kremena; Hens, Thorsten; Stössel, Remo (2018). Which measures predict risk taking in a multi-stage controlled investment decision process?. Financial Services Review, 26:339-365.

  • 2017

    • Hens, Thorsten; Mayer, János (2017). Cumulative prospect theory and mean-variance analysis: a rigorous comparison. Journal of Computational Finance, 21(3):47-73.
    • Hens, Thorsten; Gerber, Anke (2017). Modelling alpha in a CAPM with heterogenous beliefs. Journal of Finance & Economics, 5(2):1-21.
    • Rieger, Marc Oliver; Wang, Mei; Hens, Thorsten (2017). Estimating cumulative prospect theory parameters from an international survey. Theory and Decision, 82(4):567-596.
    • Hens, Thorsten; Rieger, Marc O; Wang, Mei (2017). The Impact of Culture on Loss Aversion. Journal of Behavioral Decision Making, 30(2):270-281.

  • 2016

    • Bachmann, Kremena; Hens, Thorsten (2016). Is there Swissness in investment decision behavior and investment competence?. Financial markets and portfolio management, 30(3):233-275.
    • Dluhosch, Barbara; Hens, Thorsten (2016). A rigorous approach to business services offshoring and North–North trade. Applied Economics, 48(15):1390-1401.
    • Wang, Mei; Rieger, Marc Oliver; Hens, Thorsten (2016). How time preferences differ: Evidence from 53 countries. Journal of Economic Psychology, 52:115-135.

  • 2015

    • Brune, Amelie; Hens, Thorsten; Rieger, Marc Oliver; Wang, Mei (2015). The war puzzle: contradictory effects of international conflicts on stock markets. International Review of Economics, 62(1):1-21.
    • Bachmann, Kremena; Hens, Thorsten (2015). Investment competence and advice seeking. Journal of Behavioral and Experimental Finance, 6:27-41.
    • Hens, Thorsten; Breuer, Wolfgang; Wang, Mei; Salzmann, Astrid J (2015). On the determinants of household debt maturity choice. Applied Economics, 47(5):449-465.
    • Rieger, Marc Oliver; Wang, Mei; Hens, Thorsten (2015). Risk preferences around the world. Management Science, 61(3):637-648.
    • Bradbury, Meike A S; Hens, Thorsten; Zeisberger, Stefan (2015). Improving investment decisions with simulated experience. Review of Finance, 19(3):1019-1052.

  • 2014

    • Hens, Thorsten (2014). Slanina, František : Essentials of econophysics modelling.. Journal of Economics, 112(3):295-297.
    • Hens, Thorsten; Rieger, Marc Oliver (2014). Can utility optimization explain the demand for structured investment products?. Quantitative Finance, 14(4):673-681.

  • 2013

    • Hens, Thorsten; Rieger, Marc Oliver; Wang, Mei (2013). International evidence on the equity premium puzzle and time discounting. Multinational Finance Journal, 17(3/4):149-163.
    • Hens, Thorsten; Reichlin, Christian (2013). Three solutions to the pricing kernel puzzle. Review of Finance, 17(3):1065-1098.
    • Haug, Jorgen; Hens, Thorsten; Woehrmann, Peter (2013). Risk aversion in the large and in the small. Economics Letters, 118(2):310-313.
    • Fischbacher, Urs; Hens, Thorsten; Zeisberger, Stefan (2013). The impact of monetary policy on stock market bubbles and trading behavior: evidence from the lab. Journal of Economic Dynamics and Control, 37(10):2104-2122.

  • 2012

    • Hens, Thorsten; Rieger, Marc O (2012). Explaining the demand for structured financial products: survey and field experiment evidence. Zeitschrift für Betriebswirtschaft, 82(5):491-508.
    • Levy, Haim; De Giorgi, Enrico G; Hens, Thorsten (2012). Two Paradigms and Nobel Prizes in Economics: A Contradiction or Coexistence?. European financial management, 18(2):163-182.

  • 2011

    • Hens, Thorsten; Lensberg, Terje; Schenk-Hoppé, Klaus Reiner; Wöhrmann, Peter (2011). An evolutionary explanation of the value premium puzzle. Journal of Evolutionary Economics, 21(5):803-815.
    • Evstigneev, Igor V; Hens, Thorsten; Schenk-Hoppé, Klaus Reiner (2011). Local stability analysis of a stochastic evolutionary financial market model with a risk-free asset. Mathematics and Financial Economics, 5(3):185-202.
    • Hens, Thorsten; Amir, Rabah; Evstigneev, I V; Xu, Le (2011). Evolutionary finance and dynamic games. Mathematics and Financial Economics, 5(3):161-184.
    • Hens, Thorsten; Vlcek, Martin (2011). Does prospect theory explain the disposition effect?. Journal of Behavioral Finance, 12(3):141-157.
    • De Giorgi, Enrico; Hens, Thorsten; Mayer, Janos (2011). A note on reward-risk portfolio selection and two-fund separation. Finance Research Letters, 8(2):52-58.

  • 2010

    • Hens, Thorsten; Vogt, Bodo (2010). Indirect Reciprocity and Money. Games and Economic Behavior, 70(2):354-374.
    • De Giorgi, Enrico; Hens, Thorsten; Rieger, Marc Oliver (2010). Financial Market Equilibria with Cumulative Prospect Theory. Journal of Mathematical Economics, 46(5):633-651.
    • Hens, Thorsten; Gerber, Anke; Woehrmann, Peter (2010). Dynamic general equilibrium and T-period fund separation. Journal of Financial and Quantitative Analysis, 45(2):369-400.

Pagination