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Lawrence J. Jin

Assistant Professor of Finance
Lawrence Jin headshot
Contact information for Lawrence J. Jin
Contact Method Value
Mail Code: MC 228-77
Office: 207 Baxter
Phone: 626-395-4558
Email:
Administrative Assistant:
B.S., Tsinghua University China, 2005; M.S., California Institute of Technology, 2006; Ph.D., Yale University, 2015. Caltech, 2015-.

Research Interests

Asset Pricing; Behavioral Finance; Institutional Frictions; Financial Intermediaries; Household Finance

RESEARCH AREAS

Business, Economics and Management

PROFILE

Lawrence J. Jin received his Ph.D. in Financial Economics from Yale University in May 2015. His research focuses on asset pricing, behavioral finance, neuroeconomics, and household finance. He holds a B.S. in Mathematics and Physics from Tsinghua University and a M.S. in Electrical Engineering from Caltech. Prior to attending Yale, he spent two years as a research and trading analyst at Citigroup. His research has been published in the Quarterly Journal of Economics, the Journal of Finance, the Review of Financial Studies, and the Journal of Financial Economics.

His JFE paper "X-CAPM: An Extrapolative Asset Pricing Model" received the Q-Group's 2014 Jack Treynor Prize—the prize recognizes superior academic papers with potential applications in the fields of investment management and financial markets. His job market paper "A Speculative Asset Pricing Model of Financial Instability" received the AQR Top Finance Graduate Award in 2015—the award recognizes finance Ph.D. graduates worldwide whose dissertations and broader research potential carry the greatest promise of making an impact on the practice of finance and in academia.

Click here for more information about Lawrence's research.

Selected Awards

Associated Students of the California Institute of Technology (ASCIT) Teaching Award, 2021
Co-Principal Investigator, NSF Research Grant SES-2031287, 2020-2021
MFA Outstanding Paper Award, 2019
AQR Top Finance Graduate Award, 2015
Q-Group Jack Treynor Prize, 2014

Selected Publications

Asset Pricing with Return Extrapolation, (with Pengfei Sui). Journal of Financial Economics, forthcoming.

Efficient Coding and Risky Choice, (with Cary Frydman). Quarterly Journal of Economics, forthcoming.

Prospect Theory and Stock Market Anomalies, (with Nicholas Barberis and Baolian Wang). Journal of Finance, forthcoming.

Extrapolative Beliefs in the Cross-Section: What Can We Learn from the Crowds?, (with Zhi Da and Xing Huang). Journal of Financial Economics (2021), 140 (1), 175-196.

Extrapolation and Bubbles, (with Nicholas Barberis, Robin Greenwood, and Andrei Shleifer). Journal of Financial Economics (2018), 129 (2), 203-227. (Lead Article)

X-CAPM: An Extrapolative Capital Asset Pricing Model, (with Nicholas Barberis, Robin Greenwood, and Andrei Shleifer). Journal of Financial Economics (2015), 115 (1), 1-24. (Lead Article)

Realization Utility with Reference-Dependent Preferences, (with Jonathan E. Ingersoll, Jr.). Review of Financial Studies (2013), 26 (3), 723-767.