Research Papers

Published and Forthcoming Papers

The Co-holding Puzzle: New Evidence from Transaction-Level Data (with Arna Olafsson)

Forthcoming, Review of Financial Studies, 2024

Investor Logins and the Disposition Effect (with G. Loewenstein, E. Quispe-Torreblanca and N. Stewart)

Forthcoming, Management Science 2024

Does Homeownership Reduce Crime? A Radical Housing Reform in the UK (with R. Disney, S. Machin and M. Sandi)

Economic Journal, 133: 2640-2675, 2023

Naive Buying Diversification and Narrow Framing by Individual Investors (with D. Hirshleifer, D. Leake, H. Sakaguchi and N. Stewart)

Journal of Finance, 78: 1705-1741, 2023

Work-from-home and the Risk of Securities Misconduct (with D. Cumming, C. Firth and N. Stewart)

European Financial Management, 29: 1054-1077, 2023

Buy Now, Pay Later (BNPL)... On Your Credit Card (with B. Guttman-Kenney and C. Firth)

Journal of Behavioral and Experimental Finance, 37: 100788 2023

Estimating Carbon Footprints from Large Scale Financial Transaction Data (with L. Kilian, D. Leake, A. Owen, N. Stewart, A. Trendl, L. Vomfell)

Journal of Industrial Ecology, 57: 56-70, 2023

Workplace Inequality is Associated with Status-Signalling Expenditure (with N. Muggleton, A. Trendl, L. Walasek, D. Leake and N. Stewart)

Proceedings of the National Academy of Sciences, 119: e2115196119, 2022

Default and Anchoring Effects of Credit Card Minimum Payments (with H. Sakaguchi, N. Stewart, P.l Adams, B. Guttman-Kenney, L. Hayes and S. Hunt)

Journal of Marketing Research, 59: 775-796, 2022

Money, Methodology, and Happiness: Using Big Data to Study Causal Relationships (with G. Brown and E. Quispe-Torreblanca), forthcoming in Pogrebna, G. & Hills, T. (Eds.) Handbook of Behavioural Data Science, Cambridge University Press. 2022

The Association Between Gambling and Financial, Social, and Health Outcomes in Big Financial Data (with N. Muggleton, P. Parpart, P. Newall, D. Leake and N. Stewart. Also see editorial. Nature Human Behaviour, 5: 319–326, 2021

How Do Consumers Avoid Penalty Fees? Evidence From Credit Cards (with H. Sakaguchi, N. Stewart and J. Weber)

Management Science, 67: 1993-2656, 2021

Levelling Down and the COVID-19 Lockdowns: Uneven Regional Recovery in UK Consumer Spending (with F. Gunzinger, B. Guttman-Kenney, E. Quispe-Torreblanca and N. Stewart) Covid Economics 67, Centre for Economic Policy Research, 2021

The English Patient: Evaluating Local Lockdowns Using Real-Time COVID-19 and Consumption Data (with B. Guttman-Kenney) Covid Economics 64 , Centre for Economic Policy Research, 2021

Consumption Changes, Not Income Changes, Predict Changes in Subjective Well-Being (with G. Brown)

Social Psychological and Personality Science, 11, 64-73, 2020

How Do Individuals Repay Their Debt? The Balance-Matching Heuristic (with N. Mahoney, N. Stewart and J. Weber) NBER Digest

American Economic Review, 109: 844-875, 2019

How Do Payday Loans Affect Borrowers? Evidence From the UK Market (with S. Hunt and B. Guttman-Kenney)

Review of Financial Studies, 32: 496-523, 2019. Reprinted in Society for Financial Studies Virtual Issue on Debt here

The Red, the Black and the Plastic: Paying Down Credit Card Debt for Hotels not Sofas (with E. Quispe-Torreblanca, N. Stewart and G. Loewenstein)

Management Science, 65: 4951-5448, 2019

How Do Americans Repay Their Debt? The Balance-Matching Heuristic (with N. Mahoney, N. Stewart and J. Weber)

Economics Bulletin, 39: 1458-1467, 2019

Professorial Salaries and Research Performance in UK Universities (with G. De Fraja and G. Facchini)