Thorsten Hens

Adjunct Professor Thorsten Hens

+47 55 95 99 72
Behavioral Finance Portfolio Theory Financial Markets Financial Innovations


Thorsten Hens is a Swiss Finance Institute Professor of Financial Economics at the University of Zurich and Adjunct Professor of Finance at NHH. He was awarded his PhD (1992) and his habilitation (1996) at Bonn University. Before joining the University of Zurich in 1999, Hens held a professorship in Bielefeld, Germany and was a Visiting Professor at Paris and Stanford.

Hens has published more than fifty peer reviewed journal articles (among other in Econometrica, Review of Economic Studies, Journal of Financial and Quantitative Analysis, Review of Finance) and is the co-author of seven books on various topics in financial economics.

Hens's main research areas are behavioural and evolutionary finance. In his behavioural finance research he analyses the typical mistakes investors make and then develops tools to avoid them. In his evolutionary finance research he studies the interaction of investment strategies in order to determine properties for their long run survival.

Selected publications

Author(s) Title Publisher
Hens, Thorsten; Lensberg, Terje; Schenk-Hoppe, Klaus Reiner Front-Running and Market Quality: An Evolutionary Perspective on High Frequency Trading International Review of Finance Volume 18 (4); page 727 - 741; 2018
Hens, Thorsten; Schenk-Hoppe, Klaus Reiner Patience Is a Virtue: In Value Investing International Review of Finance; 2018
Hens, Thorsten; Mayer, János Cumulative prospect theory and mean–variance analysis: a rigorous comparison Journal of Computational Finance Volume 21 (3); page 47 - 73; 2017
Hens, Thorsten; Mayer, János Decision Theory Matters for Financial Advice Computational Economics; page 1 - 32; 2017
More publications in Cristin


Thorsten Hens teaches the course “Behavioural Finance” at NHH.