[1] From 2006-2021 he was a Distinguished Professor of Finance and Economics at the University of California, Irvine, where he also held the Merage Chair in Business Growth.
[2] Hirshleifer's research areas include the modeling of social influence, theoretical and empirical asset pricing, and corporate finance.
He is the originator of the theory of information cascades, and has modeled investor psychology and its effects on security market under- and over-reactions.
[8] More recent work has shown how investor overconfidence may also help explain the forward premium puzzle in foreign exchange markets .
[9] In his work on limited attention, he has shown that both distracting events[10] and lack of attention to relevant information[11] can help explain important accounting anomalies such as post earnings announcement drift Hirshleifer's research has taken several approaches to show that stock returns are not exclusively based on relevant financial information, but also incorporate factors such as investors' mood and superstitions.