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1. Can Markets Discipline Government Agencies? Evidence from the Weather Derivatives Market 

• with Amiyatosh Purnanandam. Journal of Finance, 2016, 71: 303–334. 
• Summary: We analyze the role of financial markets in shaping the incentives of government agencies using a unique empirical setting: the weather derivatives market. 
• [Published Version]

2. Financial Sector Stress and Risk Sharing: Evidence from the Weather Derivatives Market 

• Review of Financial Studies, 2019, 32(6), 2456-2497.  
• Summary: I examine the effect of financial sector stress on risk sharing in a novel setting: the CME’s weather derivatives market. The results provide causal evidence of the effect of financial sector stress on the pricing of exchange-traded financial contracts and risk sharing in the economy.
• [Internet Appendix]  [Published Version]

3. Are Monthly Market Returns Predictable? 

• with Jussi Keppo and Tyler Shumway. The Review of Asset Pricing Studies, 2021, Volume 11, Issue 4, 806-836. 
• Summary: We document significant persistence in the market timing performance of active individual investors, suggesting some investors are skilled at timing. 
• [Internet Appendix] [Published Version]

4. Revealed Heuristics: Evidence from Investment Consultants' Search Behavior

• with Sudheer Chava and Soohun Kim. The Review of Asset Pricing Studies, 2022, Volume 12, Issue 2, 543–59.
• Summary: We find that investment consultants (who advise institutional investors) frequently shortlist funds using threshold screens clustered at cognitive reference numbers (e.g., $500MM AUM, 0% excess returns) and the clustering of screens affects fund outcomes.
• [Published Version]​