Yale School of Management
165 Whitney Avenue
P.O. Box 208200
New Haven, CT 06520-8200
NBER Program Affiliations:
NBER Affiliation: Research Associate
Institutional Affiliation: Yale University
NBER Working Papers and Publications
|April 2019||Can the Market Multiply and Divide? Non-Proportional Thinking in Financial Markets|
with Richard R. Townsend: w25751
|September 2018||Leverage-Induced Fire Sales and Stock Market Crashes|
with Jiangze Bian, Zhiguo He, Hao Zhou: w25040
|February 2018||Promotions and the Peter Principle|
with Alan Benson, Danielle Li: w24343
Published: Alan Benson & Danielle Li & Kelly Shue, 2019. "Promotions and the Peter Principle*," The Quarterly Journal of Economics, vol 134(4), pages 2085-2134.
|September 2017||A Tough Act to Follow: Contrast Effects In Financial Markets|
with Samuel M. Hartzmark: w23883
Published: SAMUEL M. HARTZMARK & KELLY SHUE, 2018. "A Tough Act to Follow: Contrast Effects in Financial Markets," The Journal of Finance, vol 73(4), pages 1567-1613.
|January 2017||How do Quasi-Random Option Grants Affect CEO Risk-Taking?|
with Richard Townsend: w23091
Published: KELLY SHUE & RICHARD R. TOWNSEND, 2017. "How Do Quasi-Random Option Grants Affect CEO Risk-Taking?," The Journal of Finance, vol 72(6), pages 2551-2588.
|February 2016||Decision-Making under the Gambler's Fallacy: Evidence from Asylum Judges, Loan Officers, and Baseball Umpires|
with Daniel Chen, Tobias J. Moskowitz: w22026
Published: Daniel L. Chen & Tobias J. Moskowitz & Kelly Shue, 2016. "Decision Making Under the Gambler’s Fallacy: Evidence from Asylum Judges, Loan Officers, and Baseball Umpires," The Quarterly Journal of Economics, vol 131(3), pages 1181-1242. citation courtesy of
|Growth through Rigidity: An Explanation for the Rise in CEO Pay|
with Richard Townsend: w21975
Published: Kelly Shue & Richard R. Townsend, 2017. "Growth through rigidity: An explanation for the rise in CEO pay," Journal of Financial Economics, vol 123(1), pages 1-21.
|September 2013||Do Managers Do Good with Other People's Money?|
with Ing-Haw Cheng, Harrison Hong: w19432
|March 2013||No News is News: Do Markets Underreact to Nothing?|
with Stefano Giglio: w18914
Published: Stefano Giglio & Kelly Shue, 2014. "No News Is News: Do Markets Underreact to Nothing?," Review of Financial Studies, vol 27(12), pages 3389-3440.
|August 2009||Screening Peers Softly: Inferring the Quality of Small Borrowers|
with Rajkamal Iyer, Asim Ijaz Khwaja, Erzo F.P. Luttmer: w15242
Published: Rajkamal Iyer & Asim Ijaz Khwaja & Erzo F. P. Luttmer & Kelly Shue, 2016. "Screening Peers Softly: Inferring the Quality of Small Borrowers," Management Science, vol 62(6), pages 1554-1577. citation courtesy of
|November 2006||Who Misvotes? The Effect of Differential Cognition Costs on Election Outcomes|
with Erzo F. P. Luttmer: w12709
Published: Kelly Shue & Erzo F. P. Luttmer, 2009. "Who Misvotes? The Effect of Differential Cognition Costs on Election Outcomes," American Economic Journal: Economic Policy, American Economic Association, vol. 1(1), pages 229-57, February. citation courtesy of