Jin­goo Kwon

I am a financial economist studying how investors form their beliefs, how these beliefs interact with each other, and how they show up in the economy.

Investors’ beliefs are central to explaining the financial market. For example, people buy stocks because they expect those stocks to go up in the future. Whether their beliefs were correct or not depends on how the stock price moves. Regardless of the outcome, the investors would learn from their past and reflect those experiences in their future decisions. This simple example shows why beliefs as well as the interaction of those beliefs matter in explaining the financial market. One natural question to ask is how these beliefs are formed and revised. Another question to ask is how we can use the observed phenomenon in the financial markets to analyze the effect of beliefs. Answering these questions will help us better understand not only the financial market but also investor behaviors.