Lisa Kramer
Bio
Lisa Kramer is a Professor of Finance at the University of Toronto. She conducts interdisciplinary work in the field of behavioural finance, blending psychology and economics to study markets and financial decision making. She also has interests in neuroeconomics, investments, market seasonality, human decisions, mood, emotions, and the role of animals in society. Her research has appeared in economics, finance, business ethics, and psychology journals, including the American Economic Review. Her studies have been extensively profiled by the popular press, including The Wall Street Journal, US News and World Reports, The Washington Post, Bloomberg Business, Business Week, and Time.
Twitter
Professor Kramer posts on Twitter as @LisaKramer.
Google Scholar
A list of citations to Professor Kramer's published research is available on her Google Scholar profile.
Academic Positions
-
2015-present
Professor, University of Toronto
-
2016-present
Research Fellow, Behavioural Economics in Action at Rotman (BEAR), University of Toronto
-
2016-2017
Visiting Scholar, Rady School of Management, University of California San Diego
-
2009-2010
Visiting Scholar, Stanford University, Psychology Department
-
2008-2011
Canadian Securities Institute Research Foundation Term Professor,
-
2007-2015
Associate Professor, University of Toronto
-
2001-2007
Assistant Professor, University of Toronto
Selected Publications - Papers
-
with Ray Greek
Business and Society Review
Issue:123(1)
2018
Pages: 3-58
-
Seasonal Asset Allocation: Evidence from Mutual Fund Flows
with M. Kamstra, M. Levi, and R. Wermers
Journal of Financial and Quantitative Analysis
Issue:52(1)
2017
Pages: 71-109
-
The Spillover Effects of Management Overconfidence on analyst forecasts
with C. Liao
Journal of Behavioral and Experimental Finance
Issue:12
2016
Pages: 79-92
-
Seasonal Variation in Treasury Returns
with M. Kamstra and M. Levi
Critical Finance Review
Issue:4(1)
2015
Pages: 45-115
-
Seasonally Varying Preferences: Theoretical Foundations for an Empirical Regularity
with M. Kamstra, M. Levi, and T. Wang
Review of Asset Pricing Studies
Issue:4(1)
2014
Pages: 39-77
-
A Careful Re-Examination of Seasonality in International Stock Markets: Comment on Sentiment and Stock Returns
with M. Kamstra and M. Levi
Journal of Banking and Finance
Issue:36
2012
Pages: 934-956
-
This is Your Portfolio on Winter: Seasonal Affective Disorder and Risk Aversion in Financial Decision Making
with J.M. Weber
Social Psychological and Personality Science
Issue:3(2)
2012
Pages: 193-199
-
Effects of Daylight-Saving Time Changes on Stock Market Volatility: a Comment
with M. Kamstra and M. Levi
Psychological Reports
Issue:107(3)
2010
Pages: 877-887
-
Estimating the Equity Premium
with M. Kamstra and R.G. Donaldson
Journal of Financial and Quantitative Analysis
Issue:45(4)
2010
Pages: 813-846
-
Is It the Weather? Comment
with M. Kamstra and M. Levi
Journal of Banking and Finance
Issue:33(3)
2009
Pages: 578-582
-
Winter Blues and Time Variation in the Price of Risk
with I. Garrett and M. Kamstra
Journal of Empirical Finance
Issue:12(2)
2005
Pages: 291-316
-
Winter Blues: A SAD Stock Market Cycle
with M. Kamstra and M. Levi
American Economic Review
Issue:93(1)
2003
Pages: 324-343
-
Losing Sleep at the Market: The Daylight Saving Anomaly: Reply
with M. Kamstra and M. Levi
American Economic Review
Issue:92(4)
2002
Pages: 1257-1263
-
Losing Sleep at the Market: The Daylight Saving Anomaly
with M. Kamstra and M. Levi
American Economic Review
Issue:90(4)
2000
Pages: 1005-1011
Featured Work
Professor Kramer is a frequent op-ed contributor to the op-ed pages of the popular press. Some of her contributions include the following:
Research and Teaching Interests
Professor Kramer teaches undergraduate courses in investments and graduate courses in behavioral finance. Her primary research interests include behavioural finance, behavioural economics, investments, neuroeconomics, household finance, and experiments.
Honors and Awards
-
2021-2026
SSHRC Insight Grant, Co-Investigator
-
2021-2026
SSHRC Insight Grant, Principal Investigator
-
2017-2021
SSHRC Insight Development Grant, Co-Investigator
-
2014-2021
SSHRC Insight Grant, Co-Investigator
-
2013-2020
SSHRC Insight Grant, Principal Investigator
-
2011-2014
SSHRC Insight Development Grant, Principal Investigator
-
2010-2014
SSHRC Standard Research Grant, Principal Investigator
-
2010-2014
SSHRC Standard Research Grant, Co-Investigator
-
2008-2011
Canadian Securities Institute Research Foundation, Limited Term Professorship
-
2007-2010
SSHRC Standard Research Grant, Co-Investigator
-
2006-2009
SSHRC Standard Research Grant, Principal Investigator
-
2006-2008
Connaught Fund, Matching Grant
-
2003-2007
SSHRC Standard Research Grant, Principal Investigator
-
2001-2002
Connaught Fund, Start-Up Grant
Professional Affiliations/Memberships
-
American Finance Association
-
Western Finance Association
-
European Finance Association
-
Northern Finance Association
Academic / Professional Service
-
2005-present
Advisory Board Member, SSRN Behavioral and Experimental Finance Abstracts
-
2013-present
Advisory Board Member, Journal of Behavioral and Experimental Finance
-
2015-present
Advisory Board Member, Justwealth Financial
-
2015-present
Editorial Board Member, Critical Finance Review
-
2020-present
Advisory Editor, Journal of Multinational Financial Management
-
2015-2020
Associate Editor, Journal of Multinational Financial Management
-
2018-2019
External Advisory Board Member, "The Economy, Plain and Simple", Bank of Canada
-
2012-2016
Board of Directors, Northern Finance Association (President 2014-2015, Past President 2015-2016)