Associate Professor Elise Lucie Payzan
Scientia Fellow (Level D)

Associate Professor Elise Lucie Payzan

  • PhD in finance, Swiss Finance Institute  
  • Master Paris School of Economics
  • Engineer Statistician ENSAE Paris
  • Ecole Normale Supérieure (Ulm, 2001)
Business School
Sch of Bank & Fin

I am a Scientia Fellow Associate Professor at the UNSW Business School.  My research program aims to elucidate how people perceive and react to financial risks, using a combination of theoretical and experimental methods from decision neuroscience, experimental economics, and financial economics. I have been collaborating with top behavioral scientists worldwide, both from North America (Brown University, The California Institute of Technology, Columbia University, and The Wharton Business School) and Europe (Geneva University)    

I obtained my PhD in Finance from the Swiss Finance Institute at the Ecole Polytechnique Federale de Lausanne. Prior to studying Finance at the SFI, I completed the first part of her PhD at the London School of Economics and studied Economics at Princeton University. I also hold a diploma of engineer statistician from the ENSAE, Paris, and graduated from the Ecole Normale Supérieure de la rue d’Ulm, Paris.

I joined the UNSW Business School in September 2010. I was also a visiting associate at The California Institute of Technology from 2010 to 2013. 

 

Personal website

Location
UNSW Business School - Ref E12 Level 3, Room 359A

Publications

  • Journal articles | 2021
    Associate Professor Elise Lucie Payzan
    Payzan-LeNestour E; Woodford M, 2021, 'Outlier blindness: A neurobiological foundation for neglect of financial risk', Journal of Financial Economics, http://dx.doi.org/10.1016/j.jfineco.2021.06.019
    Journal articles | 2021
    Associate Professor Elise Lucie Payzan
    Payzan-LeNestour E; Pradier L; Doran J; Nave G; Balleine B, 2021, 'Impact of ambient sound on risk perception in humans: neuroeconomic investigations', Scientific reports, vol. 11, pp. 5392, http://dx.doi.org/10.1038/s41598-021-84359-7
    Journal articles | 2018
    Associate Professor Elise Lucie Payzan
    Payzan-LeNestour E, 2018, 'Can people learn about ‘black swans’? Experimental evidence', Review of Financial Studies, vol. 31, pp. 4815 - 4862, http://dx.doi.org/10.1093/rfs/hhy040
    Journal articles | 2016
    Associate Professor Elise Lucie Payzan
    Payzan-LeNestour E; Balleine BW; Berrada T; Pearson J, 2016, 'Variance After-Effects Distort Risk Perception in Humans', Current Biology, vol. 26, pp. 1500 - 1504, http://dx.doi.org/10.1016/j.cub.2016.04.023
    Journal articles | 2014
    Associate Professor Elise Lucie Payzan
    Payzan EL; Bossaerts P, 2014, 'Learning About Unstable, Publicly Unobservable Payoffs', The Review of Financial Studies, vol. 28, pp. 1874 - 1913, http://dx.doi.org/10.1093/rfs/hhu069
    Journal articles | 2013
    Associate Professor Elise Lucie Payzan
    Payzan-Lenestour E; Bossaerts P; Dunne S; O''Doherty J, 2013, 'The Neural Representation of Unexpected Uncertainty during Value-Based Decision Making', Neuron, vol. 79, pp. 191 - 201, http://dx.doi.org/10.1016/j.neuron.2013.04.037
    Journal articles | 2012
    Associate Professor Elise Lucie Payzan
    Payzan-Lenestour E; Bossaerts P, 2012, 'Do not bet on the unknown versus try to find out more: Estimation uncertainty and "unexpected uncertainty" both modulate exploration', Frontiers in Neuroscience, vol. 6, pp. Article number 150, http://dx.doi.org/10.3389/fnins.2012.00150
    Journal articles | 2011
    Associate Professor Elise Lucie Payzan
    Payzan-Lenestour E; Bossaerts P, 2011, 'Risk, unexpected uncertainty, and estimation uncertainty: Bayesian learning in unstable settings', PLoS Computational Biology, vol. 7, http://dx.doi.org/10.1371/journal.pcbi.1001048
    Journal articles |
    Associate Professor Elise Lucie Payzan
    Payzan-LeNestour E; Woodford M, ''Outlier Blindness': Efficient Coding Generates an Inability to Represent Extreme Values', SSRN Electronic Journal, http://dx.doi.org/10.2139/ssrn.3152166
  • Working Papers | 2020
    Associate Professor Elise Lucie Payzan
    Payzan E; Doran J, 2020, Craving for Money? Empirical Evidence from the Laboratory and the Field, http://dx.doi.org10.2139/ssrn.3545804, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3545804
    Working Papers | 2020
    Associate Professor Elise Lucie Payzan
    Doran J; Pradier L; Nave G; Balleine B; Payzan E, 2020, Friend or Foe: The Influence of Ambient Sound on Risk Perception, http://dx.doi.org, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3422762
    Working Papers | 2020
    Associate Professor Elise Lucie Payzan
    Payzan E; Putnins T; Pradier L, 2020, The “Waterfall Illusion” in the Financial Markets: Risk Perception Is Distorted after Prior Exposure to Extreme Risk, http://dx.doi.org, http://ssrn.com/abstract=2553526
    Working Papers | 2020
    Associate Professor Elise Lucie Payzan
    Payzan E; Woodford M, 2020, “Outlier Blindness”: Efficient Coding Generates an Inability to Represent Extreme Values, http://dx.doi.org, https://dx.doi.org/10.2139/ssrn.3152166
    Working Papers |
    Associate Professor Elise Lucie Payzan
    Payzan-LeNestour E, Picking Pennies, Elsevier BV, http://dx.doi.org10.2139/ssrn.2793822

Awards

Grants

  • UNSW Business School Research Grants, A$170,000
  • Scientia Research Support (July 2017-July 2024)

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