Tom Y. Chang

Assistant Professor

Finance and Business Economics Department

Marshall School of Business

University of Southern California



Phone: (213) 740-1135

Fax: (213) 740-6650


Mailing Address

HOH Hall 231, MC-1422

701 Exposition Boulevard

Los Angeles, CA  90089


New Website: (here!)

Curriculum Vitae: (pdf)



Something in the Air: Projection Bias and the Demand for Health Insurance
 with Wei Huang and Yongxiang Wang.
Review of Economic Studies (accepted)

The Effect of Pollution on Office Workers: Evidence from Call Centers in China
 with Joshua S. Graff Zivin and Tal Gross and Matthew J. Neidell.
American Economic Journal: Applied Economics (conditionally accepted)

Going to Pot? Medical Marijuana Dispensaries and Crime
 with Mireille Jacobson.
Journal of Urban Economics (accepted)

Physician Agency and Competition: Evidence from a Major Change to Medicare Chemotherapy Reimbursement Policy
 with Craig C. Earle, M.D. and Mireille Jacobson and Joseph Newhouse.
Journal of Economic Behavior & Organization (accepted)

Being Surprised by the Unsurprising: Earnings Seasonality and Stock Returns
 with Samuel M. Hartzmark and David Solomon and Eugene F. Soltes.
Review of Financial Studies, 30(1), 2017

Particulate Pollution and the Productivity of Pear Packers
 with Joshua S. Graff Zivin and Tal Gross and Matthew J. Neidell.
American Economic Journal: Economic Policy, 8(3), 2016

Looking for Someone to Blame: Delegation, Cognitive Dissonance, and the Disposition Effect
 with David Solomon and Mark Westerfield.
Journal of Finance, 71(1) 2016

How Many Pears Would a Pear Packer Pack if a Pear Packer Could Pack Pears at Quasi-Exogenously Varying Piece Rates?
 with Tal Gross.
Journal of Economic Behavior & Organization, 99, 2014 Lead Article

Natural Disaster Management: Earthquake Risk and Hospitals' Provision of Essential Services in California
 with Mireille Jacobson
Regulation versus Litigation: Perspectives from Economics and Law, Daniel Kessler, ed. 2010


Working Papers

What Do Not-For-Profit Hospitals Maximize? Evidence from California's Seismic Retrofit Mandate
 with Mireille Jacobson.
(Revise and Resubmit, Journal of Public Economics)

Judge Specific Difference in Chapter 11 and Firm Outcomes
 with Antoinette Schoar.
(Revise and Resubmit, Journal of Finance)

Categorical Consideration: Theory, Evidence and Market Implications

Experiments in Choice: An Experimental Evaluation of Discrete-Choice Models of Product Diļ¬€erentiation
 with Sendhil Mullainathan and Eldar Shafir



BUAD 306, Introduction to Finance.