Kent D. Daniel

Graduate School of Business
Columbia University
3022 Broadway, Uris Hall 101
New York, NY 10027
Tel: 212/854-4679

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
NBER Program Affiliations: AP
NBER Affiliation: Research Associate
Institutional Affiliation: Columbia University

NBER Working Papers and Publications

December 2018Monetary Policy and Reaching for Income
with Lorenzo Garlappi, Kairong Xiao: w25344
Overconfidence, Information Diffusion, and Mispricing Persistence
with Alexander Klos, Simon Rottke: w25346
January 2018Liquidity Regimes and Optimal Dynamic Asset Allocation
with Pierre Collin-Dufresne, Mehmet Saǧlam: w24222

Published: Pierre Collin-Dufresne & Kent Daniel & Mehmet Sağlam, 2019. "Liquidity regimes and optimal dynamic asset allocation," Journal of Financial Economics, .

December 2017Short- and Long-Horizon Behavioral Factors
with David Hirshleifer, Lin Sun: w24163


The Cross-Section of Risk and Return
with Lira Mota, Simon Rottke, Tano Santos: w24164

Published: Kent Daniel & Lira Mota & Simon Rottke & Tano Santos & Andrew Karolyi, 2020. "The Cross-Section of Risk and Returns," The Review of Financial Studies, vol 33(5), pages 1927-1979.

November 2016Applying Asset Pricing Theory to Calibrate the Price of Climate Risk
with Robert B. Litterman, Gernot Wagner: w22795

Published: Daniel, Kent D., Robert B. Litterman, and Gernot Wagner. "Declining CO2 price paths," PNAS (1 October 2019). doi: 10.1073/pnas.1905755116.

January 2016Overconfident Investors, Predictable Returns, and Excessive Trading
with David Hirshleifer: w21945

Published: Kent Daniel & David Hirshleifer, 2015. "Overconfident Investors, Predictable Returns, and Excessive Trading," Journal of Economic Perspectives, American Economic Association, vol. 29(4), pages 61-88, Fall. citation courtesy of

August 2014The Carry Trade: Risks and Drawdowns
with Robert J. Hodrick, Zhongjin Lu: w20433

Published: Kent Daniel & Robert J. Hodrick & Zhongjin Lu, 2017. "The Carry Trade: Risks and Drawdowns," Critical Finance Review, vol 6(2), pages 211-262. citation courtesy of

Momentum Crashes
with Tobias J. Moskowitz: w20439

Published: Kent Daniel & Tobias J. Moskowitz, 2016. "Momentum crashes," Journal of Financial Economics, vol 122(2), pages 221-247.

June 2012Tail Risk in Momentum Strategy Returns
with Ravi Jagannathan, Soohun Kim: w18169
June 2003Market Reactions to Tangible and Intangible Information
with Sheridan Titman: w9743

Published: Kent Daniel & Sheridan Titman, 2006. "Market Reactions to Tangible and Intangible Information," Journal of Finance, American Finance Association, vol. 61(4), pages 1605-1643, 08. citation courtesy of

March 2000Covariance Risk, Mispricing, and the Cross Section of Security Returns
with David Hirshleifer, Avanidhar Subrahmanyam: w7615

Published: Overconfidence, Arbitrage, and Equilibrium Asset Pricing. Kent Daniel, David Hirshleifer and Avanidhar Subrahmanyam, Journal of Finance, 56(3), June, (2001):921-965.

January 2000Market Efficiency in an Irrational World
with Sheridan Titman: w7489

Published: Kent Daniel & Sheridan Titman, 1999. "Market Efficiency in an Irrational World," Financial Analysts Journal, vol 55(6), pages 28-40.

July 1999Explaining the Cross-Section of Stock Returns in Japan: Factors or Characteristics?
with Sheridan Titman, K.C. John Wei: w7246

Published: Daniel, Kent, Sheridan Titman and K. C. John Wei. "Explaining The Cross-Section Of Stock Returns In Japan: Factors Or Characteristics?," Journal of Finance, 2001, v56(2,Apr), 743-766.

June 1996Evidence on the Characteristics of Cross Sectional Variation in Stock Returns
with Sheridan Titman: w5604

Published: Journal of Finance, March 1997. citation courtesy of

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