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Thorsten Hens
SFI Faculty Member
Professor of Financial Economics
Thorsten Hens is Professor of Financial Economics and a member of the Directorate of the Department of Banking and Finance at the University of Zurich. He has been an SFI Faculty Member since 2006. He was an SFI Research Fellow from 2008 to 2013. Prof. Hens is the founder of the UZH spin-off firm Behavioral Finance Solutions, which assists financial firms in developing and implementing investor profiling methods, making use of behavioral finance principles.
Research Interests:
His research focuses mainly on behavioral finance.
Recent Research:
In one of his latest research projects, Prof. Hens and his coauthors study the impact of culture on loss aversion. To do so, the researchers conduct a standardized survey that includes 6’692 participants from 53 countries, and measure cultural dimensions and loss aversion by using an experimental approach. Regression analysis reveals that cultures that are more individualistic, that better conform to hierarchy, and that attach more importance to ego goals and less to social goals show higher degrees of loss aversion. Surprisingly, the extent to which a society and its individuals can tolerate ambiguous situations has an elusive effect on risk aversion.