Michaela Pagel
Roderick H. Cushman Associate Professor of Business
Finance
Joined CBS in 2014
Office:
802
Uris
E-mail:
[email protected]
Personal Website
Curriculum Vitae
Biography
Michaela Pagel is the Roderick H. Cushman Associate Professor of Business at Columbia Business School. She received her Ph.D. from the Economics Department at UC Berkeley and works on topics in behavioral economics, household finance, and macroeconomics. Her dissertation focused on the consumption and investment implications of non-standard preferences. More specifically, she theoretically studied how decision-making is affected by people's beliefs about their consumption. Her current work analyzes transaction-level data on income, spending, balances, credit limits, and logins stemming from a financial aggregation app. Furthermore, she is working with bank account data linked to individual investors' security trades and portfolios.
Teaching
Spring 2021
Capital Markets & Investments
(EMBA)
Fall 2020
Capital Markets & Investments
(EMBA)
Summer 2020
Capital Markets & Investments
(EMBA)
Fall 2019
Capital Markets & Investments
(EMBA)
Summer 2019
Capital Markets & Investments
(EMBA)
Fall 2018
Capital Markets & Investments
(EMBA)
Fall 2017
Capital Markets & Investments
(EMBA)
Spring 2017
Capital Markets & Investments
(MBA)
Spring 2016
Research
Journal articles
Sticking to Your Plan: The Role of Present Bias for Credit Card Paydown
In Journal of Financial Economics
(forthcoming)
Coauthor(s): Theresa Kuchler, Michaela Pagel
Prospective Gain-Loss Utility: Ordered versus Separated Comparison
In Journal of Economic Behavior & Organization
(forthcoming)
Coauthor(s): Michaela Pagel
Generational Differences in Managing Personal Finances
In AEA Papers and Proceedings
(2019)
Coauthor(s): Bruce Carlin, Arna Olafsson, Michaela Pagel
The Liquid Hand-to-Mouth: Evidence from Personal Finance Management Software
In The Review of Financial Studies
(2018)
Coauthor(s): Michaela Pagel, Arna Olafsson
A News-Utility Theory for Inattention and Delegation in Portfolio Choice
In Econometrica
(2018)
Coauthor(s): Michaela Pagel
Expectations-Based Reference-Dependent Life-Cycle Consumption
In The Review of Economic Studies
(2017)
Coauthor(s): Michaela Pagel
Expectations-Based Reference-Dependent Preferences and Asset Pricing
In Journal of the European Economic Association
(2016)
Coauthor(s): Michaela Pagel
Working papers
The Ostrich in Us: Selective Attention to Financial Accounts, Income, Spending, and Liquidity
(2017)
Coauthor(s): Arna Olafsson, Michaela Pagel
The Retirement-Consumption Puzzle: New Evidence on Individual Spending and Financial Structure
(2017)
Coauthor(s): Arna Olafsson, Michaela Pagel
FinTech Adoption Across Generations: Financial Fitness in the Information Age
(2017)
Coauthor(s): Bruce Carlin, Arna Olafsson, Michaela Pagel
Fresh Air Eases Work: The Effect of Air Quality on Individual Investor Activity
(2017)
Coauthor(s): Steffen Meyer, Michaela Pagel
Family Finances: Intra-Household Bargaining, Spending, and Capital Structure
(2017)
Coauthor(s): Arna Olafsson, Michaela Pagel
Starring on a Curve: Are Mutual Fund Managers Responding to Incentives?
(2016)
Coauthor(s): Xing Huang, Michaela Pagel
Expectations-Based Reference-Dependent Consumption and Portfolio Choice: Evidence from the Lab
(2013)
Coauthor(s): Michaela Pagel, Christopher Zeppenfeld
Ideas and Insights
In The Media
Fintech Spotlight: How Bumped Makes You an Owner in the Brands You Shop At
Owning Stock in a Company May Affect How Much Money You Spend There
GameStop Stocks Are the Internet’s Main Character This Week
"It Isn't Even Really a Stimulus in My Opinion": Economists Lament Paltry $600 Checks to Citizens
Ask the Experts