203.432.3122

William S. Beinecke Professor of Finance and Economics

Professor Chevalier's research is in the areas of both finance and industrial organization. Some of her recent research examines the role of consumer foresight in markets for durable goods, the impact of state regulations in the market for funeral products and services, and the taste for leisure as a determinant of occupational choice. She has written a series of papers on the economics of electronic commerce, the interaction between firm capital structure and product market competition, price seasonality and cyclicality, and tests of models of agency relationships and career concerns, and firm diversification. She is a former co-editor of the American Economic Review, serves on the editorial board of the Journal of Industrial Economics and is co-editor of the Rand Journal of Economics. 

Achievements and Awards
Elected member, American Academy of Arts and Sciences, 2006-present
Elaine Bennett prize, 1999
Sloan Research Fellow, Alfred P. Sloan Foundation, 1997-1999
Smith Breeden "Distinguished Paper" prize, Journal of Finance, 1995
Recipient, National Science Foundation research grant, 1994-1996 

Selected Articles
"Are Durable Goods Consumers Forward Looking? Evidence from the College Textbook Market" (with A. Goolsbee), Quarterly Journal of Economics, Vol. 124, November, 2009

"The Taste for Leisure, Career Choice, and the Returns to Education" (with K. Chen), Economics Letters, Vol. 99, 353-356, May, 2008

"State Casket Seller Restrictions: A Pointless Undertaking?" (with F. Scott Morton), Journal of Law and Economics, August, 2008

"The Effect of Word of Mouth on Sales: Online Book Reviews" (with D. Mayzlin), Journal of Marketing Research, August, 2006

"What Do We Know About Cross-subsidization? Evidence from Merging Firms," Advances in Economic Analysis & Policy, Vol. 4, No.1, Article 3, 2004

"Valuing Internet Retailers: Amazon and Barnes and Noble," Advances in Applied Microeconomics: Organizing the New Industrial Economy, Vol. 12, 2003

"Measuring Prices and Price Competition Online: Amazon vs. Barnes and Noble" (with A. Goolsbee), Quantitative Marketing and Economics I, Vol. 2, June 2003

"Why Don't Prices Rise During Periods of Peak Demand? Evidence from Scanner Data" (with A. Kashyap and P. Rossi), American Economic Review, June 2003

"Free Riding and Sales Strategy for the Internet" (with D. Carlton), Journal of Industrial Economics, December 2001

"The Pros and Cons of Entering a Market," Financial Times Mastering Strategy Series, November 1, 1999. Reprinted in Mastering Strategy, Prentice Hall, 2000

"When it Can be Good to Burn your Boats," Financial Times Mastering Strategy Series, October 25, 1999. Reprinted in Mastering Strategy, Prentice Hall, 2000

"Identifying Investor Sentiment from Price Paths: The Case of Football Betting" (with C. Avery), Journal of Business, October 1999

"Are Some Mutual Fund Managers Better than Others? Cross-Sectional Patterns in Behavior and Performance" (with G. Ellison), Journal of Finance, June 1999

"Herding over the Career" (with C. Avery), Economics Letters, June 1999

"Career Concerns of Mutual Fund Managers" (with G. Ellison), Quarterly Journal of Economics, May 1999

"Why Do Managers Undertake Acquisitions?: an Analysis of Internal and External Rewards to Acquisitiveness" (with C. Avery and S. Schaefer), Journal of Law, Economics, and Organization, April 1998

"Risk Taking by Mutual Funds as a Response to Incentives" (with G. Ellison), Journal of Political Economy, December 1997

Selected Working Papers
"Best Prices" (with A. Kashyap) 

"Differentiated to Death" (with F. Scott Morton and D. Harrington)

"The CAPS Prediction System and Stock Market Returns" (with C. Avery and R. Zeckhauser)

"Leisure and the Returns to Education for Men vs. Women" (with K. Chen)

"Entry and Market Size: The College Textbook Market" (with A. Goolsbee)

Education
PhD Massachusetts Institute of Technology, 1993
BA Yale University, 1989