A Tough Act to Follow: Contrast Effects in Financial Markets

By Samuel M. Hartzmark, Kelly Shue. 2018

117 citations recorded by the source corpus.

Subfields: Accounting, Finance

View Paper: https://www.semanticscholar.org/paper/45372e1f6fb80e0d668b447b5a78fc97ba012e7a

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Nicholas Barberis

In Finance

1. Nicholas Barberis
2. Doron Avramov
3. Allan G. Timmermann
4. Massimo Guidolin
5. Michael W. Brandt
6. Jessica A. Wachter
7. A. Shleifer
8. Yihong Xia

Citations in the corpus

• Psychology-based Models of Asset Prices and Trading Volume (2018, background): “Hartzmark and Shue (2017) present evidence of a perceptual distortion known as a “contrast effect”: investors perceive a given earnings surprise to be less impressive if the previous day’s earnings surprises were particularly positive.”