Keith Jacks Gamble

Keith Jacks Gamble
Assistant Professor of Finance
DePaul University

1 East Jackson Blvd., Suite 5500
Chicago, IL 60604-2287
Tel: 312-362-7685
Fax: 312-362-6566
kgamble *at*

Research Interests: Behavioral Finance, Investor Behavior, Financial Decision Making
Curriculum Vitae

Working Papers
Aging, Financial Literacy, and Fraud (with Patricia Boyle, Lei Yu, and David Bennett)
2nd Round at Management Science
This study examines how cognitive changes associated with aging impact the financial decision making capability of older Americans.
Media Mentions:
Squared Away Blog of the Center for Retirement Research at Boston College
Archive of the Financial Fraud Research Center of the Stanford Center on Longevity

Short Selling and Firm Operating Performance (with Sanjay Deshmukh and Keith Howe)
2nd Round at Financial Management
Large increases in short interest are associated with a 21% decline in operating performance in subsequent years.

Informed Retail Investors: Evidence from Retail Short Sales (with Wei Xu)
We use retail investors' short sales to identify informed trading.

Publications in Finance Journals
The Information Content of Investors' Expectations for Risk and Return (with Thomas Berry)
forthcoming in the Quarterly Journal of Finance
This study reveals the information content of individual investors' risk-adjusted return expectations.

How Prior Outcomes Affect Individual Investors' Subsequent Risk Taking (with Bjorn Johnson)
Journal of Personal Finance, 13 (1) 2014, 8-37. (lead article)
We present empirical evidence of how prior outcomes affect individual investors' subsequent risk taking.

Does Presenting Investment Results Asset by Asset Lower Risk Taking? (with Santosh Anagol)
Journal of Behavioral Finance, 14 (4) 2013, 276-300.
Segregating investment results by asset decreases subsequent risk taking.

Informed Local Trading Prior to Earnings Announcements (with Thomas Berry)
Journal of Financial Markets, 16 (3) 2013, 505-525.
Large trading imbalances by investors living close to a firm’s headquarters predict the stock’s earnings announcement return.

Publications in Science Journals
Temporal Discounting is Associated with an Increased Risk of Mortality
(with Patricia A. Boyle, Lei Yu, and David Bennett)
published in PLOS ONE, 2013.
A person with the greatest preference for smaller immediate rewards over larger but delayed ones was about twice more likely to die over the study period.

Poor Decision Making is a Consequence of Cognitive Decline
(with Patricia A. Boyle, Lei Yu, Robert S. Wilson, Aron S. Buchman, and David Bennett)
published in PLOS ONE, 2012.
Shows that even very subtle age-related changes in cognition have detrimental effects on decision making.
Updated March 2014