All Publications

ZORA Publication List

Publications

• Journal Article

  • 2025

    • Hens, T., & Nordlie, T. (2025). How good are LLMs in risk profiling?

  • 2024

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

  • 2023

    • Evstigneev, Igor V; Hens, Thorsten; Javad Vanaei, Mohammad (2023). Evolutionary Finance: A model with endogenous asset payoffs Journal of Bioeconomics, 25:117-143.
    • 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.

  • 2022

    • Hens, Thorsten; Schnetzer, Michael (2022). Evolutionary Finance for Multi-Asset Investors Financial Analysts Journal, 78(3):115-127.
    • 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 (2022). Stefan Nagel: Machine learning in asset pricing Journal of Economics, 136:91-92.
    • 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

    • 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; 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.
    • Hens, Thorsten; Schenk-Hoppé, Klaus-Reiner (2020). Patience Is a Virtue: In Value Investing International Review of Finance, 20(4):1019-1031.
    • 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; 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.

  • 2019

    • Bradbury, Meike A S; Hens, Thorsten; Zeisberger, Stefan (2019). How Persistent are the Effects of Experience Sampling on Investor Behavior?
    • 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?

  • 2017

    • Hens, Thorsten; Gerber, Anke (2017). Modelling alpha in a CAPM with heterogenous beliefs Journal of Finance & Economics, 5(2):1-21.
    • Hens, Thorsten; Mayer, János (2017). Cumulative prospect theory and mean-variance analysis: a rigorous comparison Journal of Computational Finance, 21(3):47-73.
    • 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

    • Dluhosch, Barbara; Hens, Thorsten (2016). A rigorous approach to business services offshoring and North–North trade Applied Economics, 48(15):1390-1401.
    • Bachmann, Kremena; Hens, Thorsten (2016). Is there Swissness in investment decision behavior and investment competence?
    • 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.
    • 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.
    • Bachmann, Kremena; Hens, Thorsten (2015). Investment competence and advice seeking Journal of Behavioral and Experimental Finance, 6:27-41.
    • 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.
    • Hens, Thorsten; Rieger, Marc Oliver (2014). Can utility optimization explain the demand for structured investment products?

  • 2013

    • Hens, Thorsten; Reichlin, Christian (2013). Three solutions to the pricing kernel puzzle Review of Finance, 17(3):1065-1098.
    • 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.
    • 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

    • Levy, Haim; De Giorgi, Enrico G; Hens, Thorsten (2012). Two Paradigms and Nobel Prizes in Economics: A Contradiction or Coexistence?
    • 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.

  • 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.
    • Hens, Thorsten; Amir, Rabah; Evstigneev, I V; Xu, Le (2011). Evolutionary finance and dynamic games Mathematics and Financial Economics, 5(3):161-184.
    • 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.
    • 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; Vlcek, Martin (2011). Does prospect theory explain the disposition effect?

  • 2010

    • 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