Cary Frydman

Associate Professor of Finance and Business Economics

Marshall School of Business

University of Southern California

Email: cfrydman@marshall.usc.edu

Phone: 213-821-5586

Curriculum Vitae


Working Papers

On the Source and Instability of Probability Weighting (with Lawrence Jin) 

Coordination with Cognitive Noise (with Salvatore Nunnari) 

The Role of Salience and Attention in Choice Under Risk: An Experimental Investigation (with Milica Mormann)

Relative Wealth Concerns in Portfolio Choice: Neural and Behavioral Evidence


Publications

Insensitive Investors (with Constantin Charles and Mete Kilic)

Journal of Finance, 2024, 79: 2473-2503

Data and Code from JF website


Efficient Coding and Risky Choice (with Lawrence Jin)

Quarterly Journal of Economics, 2022, 137: 161-213

Winner of 2023 Vernon Smith Prize 

Finalist for 2023 Exeter Prize

Data and Code from QJE website


Using Response Times to Infer Others' Private Information: An Application to Information Cascades (with Ian Krajbich)

Management Science, 2022, 68: 2970-2986


The Impact of Salience on Investor Behavior: Evidence from a Natural Experiment (with Baolian Wang)

Journal of Finance, 2020, 75: 229-276

2018 TD Ameritrade Best Paper Award in Behavioral Finance


Rolling Mental Accounts (with Samuel Hartzmark and David Solomon)

Review of Financial Studies, 2018, 31: 362-397


Extrapolative Beliefs in Economic and Perceptual Decisions: Evidence of a Common Mechanism (with Gideon Nave)

Management Science, 2017, 63: 2340-2352

Runner Up for 2016 Einhorn Award for Best Young Investigator in Judgment and Decision Making


Neural Evidence of Regret and its Implications for Investor Behavior (with Colin Camerer)

Review of Financial Studies, 2016, 29: 3108-3139.

Finalist for 2017 Exeter Prize


The Psychology and Neuroscience of Financial Decision Making (with Colin Camerer)

Trends in Cognitive Sciences, 2016, 20: 661-675


Using Neural Data to Test a Theory of Investor Behavior: An Application to Realization Utility (with Nicholas Barberis, Colin Camerer, Peter Bossaerts and Antonio Rangel)

Journal of Finance, 2014, 69: 907-946


Debiasing the Disposition Effect by Reducing the Saliency of Information about a Stock's Purchase Price (with Antonio Rangel)

Journal of Behavior & Economic Organization, 2014, 107B: 541-552.


The Speed of Information Revelation and Eventual Price Quality in Markets with Insiders: Comparing Two Theories (with John Ledyard and Peter Bossaerts)

Review of Finance, 2014, 18: 1-22, Lead Article

2014 Pagano and Zechner Prize for Best Non-Investments Paper in Review of Finance


MAOA-L Carriers are Better at Making Optimal Financial Decisions Under Risk (with Colin Camerer, Peter Bossaerts and Antonio Rangel)

Proceedings of the Royal Society B, 2011, 1714: 2053-2059.