Assistant Professor of Finance

Berkeley Haas

maxted at haas.berkeley.edu

Working Papers

Present Bias Unconstrained: Consumption, Welfare, and the Present-Bias Dilemma

• This paper was formerly titled “Present Bias in Consumption-Saving Models: A Tractable Continuous-Time Approach”

• An earlier draft, which builds to the main results in a more graphical way, can be found here

Credit Card Borrowing in Heterogeneous-Agent Models: Reconciling Theory and Data (with Sean Chanwook Lee)

• This paper was formerly titled “Household Borrowing and MPCs in Heterogeneous-Agent Models”

The Beta-Delta-DELTA Sweet Spot (with David Laibson)

A Simple Mapping from MPCs to MPXs (with Benjamin Moll and David Laibson)

Present Bias Amplifies the Household Balance-Sheet Channels of Macroeconomic Policy (with Benjamin Moll and David Laibson)

• Accepted, Quarterly Journal of Economics

Estimating Discount Functions with Consumption Choices over the Lifecycle (with David Laibson, Sean Chanwook Lee, Andrea Repetto, and Jeremy Tobacman)

• Accepted, Review of Financial Studies

Publications

A Macro-Finance Model with Sentiment

• Review of Economic Studies, 2024 [DOI]

Present Bias Causes and Then Dissipates Auto-Enrollment Savings Effects (with John Beshears, James Choi, and David Laibson)

• AEA Papers and Proceedings, 2022