Eric Zitzewitz

Associate Professor of Economics

Dartmouth College


6106 Rockefeller Hall

Hanover, NH 03755

Phone:  603-646-2891

Fax:  603-646-2112





New papers


1.   Does Transparency Increase or Decrease Corruption?  Evidence from the “Reform” of Figure Skating Judging 

2.   Wintertime for Deceptive Advertising? (with Jonathan Zinman).

3.    Forensic Economics (in preparation for the Journal of Economic Literature)


The Google Papers


1.   Incentive Effects of Equity Compensation:  Employee-Level Evidence from Google (with Bo Cowgill).

2.   Mood Swings at Work:  Stock Price Movements, Effort, and Decision Making (with Bo Cowgill).

3.    Using Prediction Markets to Track Information Flows:  Evidence from Google (with Bo Cowgill and Justin Wolfers)



Under review


1.    Should Benchmarks Indices Have Alpha?  Revisiting Performance Evaluation (with Martijn Cremers and Antti Petajisto)

·      Received a 2007 research grant from the Q group

·      Best Investments Paper at 2009 FMA conference in Turin

·       Common Fund Prize on Endowment and Foundation Management, presented at 2009 EFA conference in Bergen

·       Data on our index-based factor returns


2.    Interpreting Prediction Market Prices as Probabilities (with Justin Wolfers).  NBER Working Paper No. 12200.




1.   When Should Firms Share Credit with Employees?  Evidence from Anonymously Managed Mutual Funds (with Massimo Massa and Jonathan Reuter), Journal of Financial Economics, forthcoming

2.    An Eliot Effect?  Prosecutorial Discretion in Mutual Fund Settlement Negotiations, 2003-7, BE Journal of Economic Analysis and Policy (Contributions), 2009(1)

3.    Using Markets to Inform Policy:  the Case of the Iraq War (with Justin Wolfers), Economica, April 2009

·      Draws on What Do Financial Markets Think of War in Iraq (with Andrew Leigh and Justin Wolfers).  NBER Working Paper No. 9587

4.    The Promise of Prediction Markets, Science, May 16, 2008 (joint with 18 co-authors)

5.    Party Influence in Congress and the Economy, Quarterly Journal of Political Science, August 2007 (with Erik Snowberg and Justin Wolfers)

6.    Partisan Impacts on the Economy:  Evidence from Prediction Markets and Close Elections, Quarterly Journal of Economics, May 2007 (with Erik Snowberg and Justin Wolfers)

7.    Do Ads Influence Editors?  Advertising and Bias in the Financial Media, Quarterly Journal of Economics, May 2006 (with Jonathan Reuter)

8.    How Widespread was Late Trading in Mutual Funds? American Economic Association Papers and Proceedings, May 2006 (link is to longer version referenced in the P&P)

9.    Nationalism in Winter Sports Judging and its Lessons for Organizational Decision Making, Journal of Economics and Management Strategy, Winter 2006

10.  Retrospective and Prospective Analysis of School Inputs:  the Case of Flip Charts in Kenya, Journal of Development Economics, June 2004 (with Paul Glewwe, Michael Kremer, and Sylvie Moulin)

11.  Prediction Markets, Journal of Economic Perspectives, Winter 2004 (with Justin Wolfers)

12.   Who Cares About Shareholders?  Arbitrage-proofing Mutual Funds, Journal of Law, Economics, and Organization, October 2003

13. Competition and Productivity in the U.S. and UK Tobacco Industry, 1879-1939, Journal of Industrial Economics, March 2003

·      My reply to a comment by Leslie Hannah.



Older working papers


1.   Price Discovery Among the Punters:  Using New Financial Betting Markets to Predict Intraday Volatility

2.    Another Kind of `Weekend Effect’ in Financial Markets

3.    Regulation Fair Disclosure and the Private Information of Analysts

4.    Measuring Exaggeration and Herding by Equity Analysts

5.    Opinion Producing Agents:  Career Concerns and Herding

6.    A Strategic Rationale for Imperfect Disclosure


Book Chapters and Reviews

1.     Review of Predictocracy:  Market Mechanisms for Public and Private Decision Making by Michael Abramowitz, Journal of Economic Literature, March 2009.

2.     Retail Securities Regulation in the Aftermath of the Bubble, in Economic Regulation and Its Reform: What Have We Learned? ed. Nancy Rose, University of Chicago Press, forthcoming.

3.   Prediction Markets in Theory and Practice, entry for the New Palgrave Dictionary of Economics, 2nd edition, ed. Lawrence Blume and Steven Durlauf, forthcoming (with Justin Wolfers).

4.   Prediction Markets: from Politics to Business (and Back) in Handbooks in Finance:  Handbook of Sports and Lottery Markets, ed. Donald Hausch and William Ziemba, North-Holland, 2008 (with Erik Snowberg and Justin Wolfers).

5.   Five Open Questions About Prediction Markets, in Information Markets: A New Way of Making Decisions in the Public and Private Sectors, ed. Robert Hahn and Paul Tetlock, AEI-Brookings Press, 2006 (with Justin Wolfers).

6.    Information (In)efficiency in Prediction Markets in Information Efficiency in Financial and Betting Markets, ed. Leighton Vaughn Williams, Cambridge University Press, 2005 (with Erik Snowberg and Justin Wolfers).

7.    Service Sector Productivity Comparisons: a Business Approach in New Developments in Productivity Analysis, ed. Charles Hulten, Edwin Dean, and Michael Harper, University of Chicago Press, 2001 (with Martin Baily).

8.    Extending the East Asian Miracle:  Microeconomic Evidence from Korea, Brookings Papers on Economic Activity: Microeconomics, 1998 (with Martin Baily).


Recent popular writing

1.   Quantifying the Nightmare Scenarios II:  Why Have Long-Term Interest Rates Risen?, Freakonomics blog, 6/15/2009.

2.   Quantifying the Nightmare Scenarios, Freakonomics blog, 3/2/2009.

3.    Edwards Dropout Offers Boost to Obama, Wall Street Journal Online, 1/31/2008 (with Justin Wolfers).