Pascal Kieren

Welcome!

I am an Assistant Professor in Finance (tenure track) at the WHU - Otto Beisheim School of Management.

In my research, I focus on investor behavior, asset pricing, macro-finance, and household finance. Much of my work studies investor beliefs and how they affect investor behavior at the individual and market level. My work is empirical, based both on experiments (lab, online) and archival data. To learn more about my ongoing research projects, go to Research.

For my CV, please click here.

News:

07/2025 Our Paper "Information Partitioning, Learning, and Beliefs" (joint with Lukas Mertes and Martin Weber) has been featured in an article by the Financial Times. The article can be found at https://on.ft.com/4l31XIq.

03/2025 Our Paper "First-Order and Higher-Order Inflation Expectations: Evidence about Households and Firms" has been accepted for publication in the Journal of Economic Behavior & Organization.

01/2025 Presentation "Information Partitioning, Learning, and Beliefs" (joint with Lukas Mertes and Martin Weber) at the Annual Meeting of the American Finance Association.

07/2024 We won the Heinrich-Wiemer Prize for our research on the measurement of inflation expectations (joint with Olga Goldfayn-Frank and Stefan Trautmann)

05/2024 I received DFG funding for my research on "Exploring the Micro-foundations of Investors' Beliefs".

04/2024 Our paper "Expectation Formation under Uninformative Signals" (joint with Martin Weber) has been accepted for publication in Management Science.

01/2024 Presentation "Tests of Recursive Models of Ambiguity Aversion" (joint with Gleb Gertsman and Stefan Trautmann) at the Annual Meeting of the American Economic Association in San Antonio (Texas).

01/2023 I will be visiting the University of Chicago Booth School of Business from February to April (Host: Michael Weber)

10/2022 Our paper "Risk-Taking and Asymmetric Learning in Boom and Bust Markets" (joint with Jan Müller-Dethard and Martin Weber) has been accepted for publication in the Review of Finance.

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