close window 
Andrea Frazzini, assistant professor of finance, has been recognized for his research, “The Disposition Effect and Underreaction to News.” Frazzini was awarded the Crowell Prize, sponsored by PanAgora Asset Management, Inc., an affiliate of Putnam Investments. Eric Sorensen, President and CEO, PanAgora Asset Management, said, "The winning submission represents the kind of research that is key in building our understanding of how the mechanics of learning behavior impacts the type and quality of information that can be observed in simple market setups."
Frazzini's research focuses on the tendency of investors to lock in gains and ride losses, known as the disposition effect, and how it relates to corporate news and price predictability. Developed as his PhD thesis, Frazzini’s paper will also be published in the winter issue of the prestigious Journal of Finance. The journal is the most widely cited academic publication on finance.
The Crowell competition is designed to provide a forum for new research in quantitative investing that bridges the gap between theory and practice. Frazzini’s paper was among more than 100 submissions, many of which are available for download on the company's website at www.panagora.com.
Learn more about the Crowell Prize and Frazzini’s research.