Daniel Andrei

Research

How information frictions—learning, attention, dispersed knowledge—move asset prices.

• Investor Learning about Monetary-Policy Transmission and the Stock Market, JFE, 2025, with M. Hasler
• The Lost Capital Asset Pricing Model, REStud, 2023, with J. Cujean and M. Wilson
• Economic Uncertainty and Investor Attention, JFE, 2023, with H. Friedman and N. B. Ozel
• Schumpeterian Competition in a Lucas Economy, JET, 2023, with B. Carlin
• Dynamic Attention Behavior under Return Predictability, MS, 2020, with M. Hasler
• Asset Pricing with Persistence Risk, RFS, 2019, with M. Hasler and A. Jeanneret
• Why Did the q Theory of Investment Start Working?, JFE, 2019, with W. Mann and N. Moyen, (appendix)
• Asset Pricing with Disagreement and Uncertainty about the Length of Business Cycles, MS, 2019, with B. Carlin and M. Hasler
• Information Percolation, Momentum, and Reversal, JFE, 2017, with J. Cujean
• Investor Attention and Stock Market Volatility, RFS, 2015, with M. Hasler
• Local Efficiency and Cross-Sectional Predictability: The Information Aggregation Wedge
• The Quiet Hand of Regulation: Harnessing Uncertainty and Disagreement, with L. Garlappi
• The Low-Minus-High Portfolio and the Factor Zoo, with J. Cujean and M. Fournier
• Information Percolation Driving Volatility
• The Redistributive Effects of Monetary Policy, with B. Herskovic and O. Ledoit
• Learning and Consumption Dynamics, with S. Hitzemann and A. Jeanneret
• International Portfolio Choice and Relative Wealth Concerns
• Global Public Signals, Heterogeneous Beliefs and Stock Markets Comovement, with J. Cujean
• Trade Costs, Heterogeneous Firms and International Portfolio Choice

Teaching

• Fixed Income and Credit Risk (MSc, HEC Lausanne)
• Empirical Methods in Finance (MSc, HEC Lausanne)
• Dynamic Asset Pricing (PhD, SFI)
• Derivatives (MFE & MBA, UCLA; BCom & MMF, McGill) — slides, bitcoin & blockchain
  • Midterms: Feb 2018, Oct 2018, Feb 2020, Oct 2025
  • Finals: Mar 2017, Mar 2018, Dec 2018, Dec 2025
• Advanced Finance Seminar (BCom, McGill)
• Asset Pricing Theory (PhD, McGill)
• Investments (MFE, EPFL)
• Principes de Finance (BSc, HEC Lausanne)