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Daniel Dorn, PhD

Associate Professor


Headshot of Daniel Dorn


Daniel Dorn’s research, which focuses on investments and behavioral finance, has been supported by the BSI Gamma Foundation and the European Central Bank’s Lamfalussy Fellowship program, published in leading finance journals such as the Journal of Finance and Management Science, and discussed in media outlets such as the New York Times and the Wall Street Journal. Since 2014, he has served as an independent trustee for the EA Series Trust (formerly known as the Alpha Architect ETF Trust), a pioneer in the actively managed exchange-traded funds space. Prior to his academic appointment, Dr. Dorn worked at J.P. Morgan in London, the Federal Reserve Board in Washington, D.C., Schering (now Bayer Pharma) in Berlin, Hoechst Marion Roussel (now Sanofi Aventis) in Bridgewater, N.J., Mars in the U.K., and Robert Bosch in Stuttgart. He holds business degrees from WHU Koblenz (Germany) and EM Lyon (France), and earned a Ph.D. in Finance with distinction from Columbia University.

Areas of Expertise

  • Behavioral Finance
  • Equity Markets
  • Investments
  • Finance

Selected Works


Dorn, Daniel, Rational Disposition Effects: Theory and Evidence. Journal of Banking and Finance 153 (Aug 2023).

Dorn, Daniel, Student-Managed Portfolios: Wisdom of Independent Crowds?. Journal of Trading 13 (Jan 2018):17-26.

Dorn, Anne, Dorn, Daniel, and Sengmueller, Paul, Trading as Gambling. Management Science 61 (Oct 2015):2376-2393.

Dorn, Daniel, and Huberman, Gur, Preferred Risk Habitat of Individual Investors. Journal of Financial Economics 97 (Jul 2010):155-173.

Dorn, Daniel, Does Sentiment Drive the Retail Demand for IPOs?. Journal of Financial and Quantitative Analysis 44 (Apr 2009):85-108.

Dorn, Daniel, and Sengmueller, Paul, Trading as Entertainment?. Management Science 55 (Apr 2009):591-603.

Dorn, Daniel, Huberman, Gur, and Sengmueller, Paul, Correlated Trading and Returns. Journal of Finance 63 (Apr 2008):885-920.

Dorn, Daniel, and Huberman, Gur, Talk and Action: What Individual Investors Say and What They Do?. Review of Finance 9 (Dec 2005):437-481.


PhD Finance (with distinction) - Columbia University USA 2003
BA Finance and Operations - WHU - Wissenschaftliche Hochschule fuer Unternehmensfuehrung Germany 1998
BA Finance and Entrepreneurship - Ecole Superieure de Commerce (ESC) de Lyon France 1998