| Peter Norman Sørensen
Professor of Finance
Department of Economics
University of Copenhagen
Øster Farimagsgade 5, Building 26
DK-1353 Copenhagen K
Tel. +45 3532 3056
- Professor of Finance, Department of Economics, University of Copenhagen, 2006-present.
- Associate Professor, Department of Economics, University of Copenhagen, 1999-2006.
- Assistant Professor, Department of Economics, University of Copenhagen, 1998-1999.
- Prize Research Fellow at Nuffield College, Oxford, 1995-1997.
- PhD in Economics, Massachusetts Institute of Technology, 1996.
Dissertation on Rational Social Learning.
- MSc (cand. scient. oecon.) in Mathematics and Economics, University of Copenhagen, 1992.
- Pathological Outcomes of Observational Learning, with Lones Smith:
pdf (437 kB),
postscript (468 kB).
Published in Econometrica
volume 68(2), March 2000, 371398.
- Herd Behavior and Investment: Comment, with Marco Ottaviani:
pdf (155 kB),
postscript (174 kB).
Published in the American Economic Review
volume 90(3), June 2000, 695704.
- Information Aggregation in Debate, with Marco Ottaviani:
pdf (239 kB),
postscript (315 kB).
Published in the Journal of Public Economics
volume 81(3), September 2001, 393421.
- Professional Advice, with Marco Ottaviani:
pdf (308 kB).
Published in the Journal of Economic Theory, volume 126(1), January 2006, 120142.
- Reputational Cheap Talk, with Marco Ottaviani:
pdf (354 kB).
Published in the Rand Journal of Economics, volume 37(1), Spring 2006, 155175. [Click here for supplementary material on deviation incentives, interim evaluation, and mixed incentives contained in earlier drafts.]
- The Strategy of Professional Forecasting, with Marco Ottaviani:
pdf (396 kB).
Published in the Journal of Financial Economics,
volume 81(2), August 2006, 441466.
- Simple Utility Functions with Giffen Demand: pdf (123 kB).
Published as Exposita Note in Economic Theory, volume 31(2), May 2007, 367370.
The original publication is available at www.springerlink.com.
- Outcome Manipulation in Corporate Prediction Markets, with Marco Ottaviani:
pdf (147 kB).
Published in the Journal of the European Economic Association, volume 5(2-3), April-May 2007, 554563.
- The Favorite-Longshot Bias: An Overview of the Main Explanations, with Marco Ottaviani:
pdf (232 kB).
Published in Handbook of Sports and Lottery Markets, edited by Donald B. Hausch and William T. Ziemba, North-Holland, Amsterdam, 2008, pages 83101.
- Surprised by the Parimutuel Odds?, with Marco Ottaviani:
pdf (112 kB).
Published in the American Economic Review, volume 99(5), December 2009, 21292134.
- Noise, Information and the Favorite-Longshot Bias in Parimutuel Predictions, with Marco Ottaviani:
pdf (277 kB).
Published in the American Economic Journal: Microeconomics, volume 2(1), February 2010, 5885.
Also reviewed in NAJ Economics, 11:3.
- Idea Markets as an Evaluation Tool: Between Beauty Contests and Prediction Markets, with Ivan Marinovic and Marco Ottaviani:
pdf (159 kB).
Published in Prediction Markets: Theory and Applications, edited by Leighton Vaughan Williams, Routledge, 2011, pages 417.
- Giffen Demand for Several Goods, pdf (121 kB).
Published in New Insights into the Theory of Giffen Goods, edited by Wim Heijman and Pierre von Mouche, Springer, 2011, pages 97104.
- Observational Learning, with Lones Smith:
pdf (97 kB).
Published in the New Palgrave Dictionary of Economics Online, edited by Steven N. Durlauf and Lawrence E. Blume, Palgrave Macmillan.
- The Intraday Effects of Central Bank Intervention on Exchange Rate Spreads, with Rasmus Fatum and Jesper Pedersen:
pdf (300 kB).
Published in the Journal of International Money and Finance, volume 33, March 2013, 103117.
- Forecasters' Objectives and Strategies, with Ivan Marinovic and Marco Ottaviani:
pdf (435 kB).
Published in Handbook of Economic Forecasting, Vol 2B, 1st Edition, edited by Graham Elliott and Allan Timmerman, North-Holland, 2013, pages 689720.
- Accept or Reject? An Organizational Perspective, with Umberto Garfagnini and Marco Ottaviani.
Published in the International Journal of Industrial Organization, volume 34, May 2014, 6674.
- Price Reaction to Information with Heterogeneous Beliefs and Wealth Effects: Underreaction, Momentum, and Reversal, with Marco Ottaviani: pdf (312 kB).
Published in the American Economic Review, volume 105(1), January 2015, 134.
If you are looking for other working papers,
please email me.
- I am director of the Finance Research Unit (FRU).
- I am a member of the Microeconomic Research Unit (MRU).
- I am a senior researcher on the ERC funded project "EVALIDEADesigning Institutions to Evaluate Ideas," led by principal investigator Marco Ottaviani.
- I am a research member of the project "Biased attention and economic decision-making," led by Alexander Sebald.
- I am a member of the Center for Financial Frictions (FRIC).
- I am a member of the Danish Center for Accounting and Finance (D-CAF).
- I am a member of the standing committee on teaching under the European Economic Association.
- I am a co-editor of The Scandinavian Journal of Economics.
- I was a co-editor of Economica, 2008-2013.
- I was an associate editor of Macroeconomic Dynamics, 1996-2013.
- I am heading the Danish committee on equal terms of competition between banks and mortgage-credit institutions.
- I am an expert member of the Danish business appeals board, Erhvervsankenævnet.
- I received a 2012 EliteForsk researcher prize from the Danish Ministry of Science, Innovation and Higher Education.
- I received the 2011 Finance researcher prize from the Nykredit Foundation.
- I received a 2009 Excellence in Refereeing Award from the American Economic Review.
- I held a grant from the Danish Social Science Research Council to study Asset Market Design during the period 2010-2012.
- I held a grant from the Danish Social Science Research Council to study Prices and Probabilities in Prediction Markets during the period 2007-2010.
- I co-organized a symposium on Financial Stability and Future Financial Regulation, on December 13, 2010.
- I organized a research workshop on prediction markets on December 17-18, 2008. Download the program.
- I organized a Workshop on Informational Herding Behavior on September 16-18, 2005.
- I directed our PhD Program in Economics from 2008 to 2010.
- Towards the end of its funded period, I was heading the Dynamic Economic Theory network.
I am co-supervising a seminar on Macroeconomic aspects of financial frictions.
- Fall terms: I have frequently lectured in the fourth-year Corporate Finance Theory course for the Econ students. In the Spring 2008, this was offered in a version for Math-Econ students.
- Spring terms: I have frequently lectured in the fourth-year Financial Markets course for the Econ students.
In the Spring 2001, this was offered in a version for Math-Econ students, Strategic Trading in Financial Markets.
- Fall 2014: I supervised a seminar on Financial Market Microstructure.
- Spring 2011: I supervised a seminar on Advanced Corporate Finance Theory.
- Fall 2010: I lectured on Corporate Governance for our master's students in International Law, Economics and Management.
In the Spring 2012, I also provided supervision in the Corporate Governance course for the Econ students.
- Since 2007, I have contributed lectures and supervision to the fourth-year course on Private Equity and Hedge Funds for both econ and law students.
- Spring 2006: For the Math-Econ programme I offered an advanced course on Games and Information.
- Earlier, I have taught several rounds of a third-year course in Microeconomics for the Econ students.
- I have also taught several rounds of a second-year course in Microeconomics for the Math-Econ students.
- I have also run seminars on Information and Incentives, on Financial Markets, on Advanced Corporate Finance Theory, and on Finance in general.
- Fall 2004: The third-year course on Dynamical Economics for the Math-Econ students.
- Spring 2000: The micro half of the first-year Economics 1 course for our Math-Econ
- 1995-1997: In Oxford, I taught a topics course in Game Theory.
Here is the 1997 game theory reading list in postscript format (101kB).
Last edited: January 2015.