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Professor Nagel’s research focuses on asset pricing, investor behavior, and the formation of investor expectations. His recent work explores the role of personal experiences in shaping expectations of the macroeconomy and financial market returns. He models investor learning, long-run growth with decaying memory, and applies machine learning techniques to understand risk-return investment strategies in the stock market. Nagel has received several awards for his research, including the Smith-Breeden Prize from the American Finance Association for his paper in the Journal of Finance in 2004, and the Fama/DFA prize for his asset pricing paper in the Journal of Financial Economics in 2006 (first prize) and 2010 (second prize). He served as the Executive Editor of the Journal of Finance, one of the leading academic finance journals in the world, from 2016 to 2022, and was previously the editor of the Review of Financial Studies from 2014-2015, as well as an associate editor for top journals. He is a research associate at the National Bureau of Economic Research and a research fellow at the Centre for Economic Policy Research and CESifo. Before joining Booth, Nagel taught at the University of Michigan's Ross School of Business from 2013-2017, at Stanford Graduate School of Business from 2004-2013, and in the Economics Department at Harvard University in 2003-2004. He received his PhD from London Business School in 2003 and a Diplom (M.S. equivalent) in Business Economics from the University of Trier, Germany in 1999.
The doctoral program at Booth is organized into 'dissertation areas' which include Accounting, Behavioral Science, Econometrics and Statistics, Finance, Marketing, and Operations Management.