Thorsten Hens

Adjunct Professor Thorsten Hens

+47 55 95 93 30
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.

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Selected publications

Author(s) Title Publisher
Evstigneev, Igor; Hens, Thorsten; Potapova, Valeriya; Schenk-Hoppe, Klaus Reiner Behavioral equilibrium and evolutionary dynamics in asset markets Journal of Mathematical Economics Volume 91; page 121 - 135; 2020
Amir, Rabah; Belkov, Sergei; Evstigneev, Igor V.; Hens, Thorsten An evolutionary finance model with short selling and endogenous asset supply Economic Theory; 2020
Belkov, Sergei; Evstigneev, Igor V; Hens, Thorsten; Xu, Le Nash equilibrium strategies and survival portfolio rules in evolutionary models of asset markets Mathematics and Financial Economics; 2020
Hens, Thorsten; Schenk-Hoppe, Klaus Reiner; Woesthoff, Mathis-Hendrik Escaping the Backtesting Illusion Journal of Portfolio Management Volume 46 (4); page 81 - 93; 2020
More publications in Cristin


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