Biography

Professor Nagel’s research focuses on asset pricing, investor behavior, and the formation of investor expectations. His most recent work explores the role of personal experiences in shaping expectations about the macroeconomy and financial market returns, models of investor learning about long-run growth with decaying memory, and the application of machine learning techniques to understand the risk and return of investment strategies in the stock market. Nagel has won various awards for his research, among them the Smith-Breeden Prize of the American Finance Association for the best paper in the Journal of Finance in 2004 and the Fama/DFA prize for the best asset pricing paper in the Journal of Financial Economics in 2006 and 2020 (first prize) and 2010 (second prize).

Professor Nagel served as Executive Editor of the Journal of Finance, one of the leading academic finance journals in the world, from 2016 to 2022. Previously, he was an editor at the Review of Financial Studies from 2014-2015 and an associate editor at various top journals. He is also a research associate at the National Bureau of Economic Research (Cambridge, MA) and a research fellow at the Centre for Economic Policy Research (London, UK) and CESifo (Munich, Germany). He is vice-president of the Western Finance Association. 

Before joining Booth, Nagel taught at the University of Michigan's Ross School of Business (2013-17), Stanford Graduate School of Business (2004-13) and in the Economics Department at Harvard University (2003-04). He received his PhD from the London Business School in 2003 and his Diplom (M.S. equiv.) in Business Economics from the University of Trier (Germany) in 1999.

Academic Areas

  • Finance

2024 - 2025 Course Schedule

Number Course Title Quarter
35150 Advanced Investments 2025 (Winter)
34902 Asset Pricing II 2025 (Winter)
34905 Asset Pricing III 2025 (Spring)
35930 Research Seminar 2024 (Autumn)
35931 Research Seminar 2025 (Winter)
35932 Research Seminar 2025 (Spring)

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