Print Overview
Professor Kuhnen joined the faculty at the Kellogg School of Management in August 2006, after completing her Ph.D. in Finance at the Stanford Graduate School of Business. Her research interests include corporate finance, behavioral finance and neuroeconomics. Prof. Kuhnen studies incentives in the workplace for various types of agents: mutual fund managers, chief executive officers, as well as lower level employees, using both field data and experimental evidence. She also studies the micro-foundations of financial decision making by investigating the brain mechanisms responsible for learning and risk taking in financial markets.

Area of Expertise

Corporate Finance
Print Vita
PhD, 2006, Finance, Stanford University
BS, 2001, Brain and Cognitive Studies; Management, Massachusetts Institute of Technology

Academic Positions
Associate Professor of Finance, Kellogg School of Management, Northwestern University, 2010-present
Affiliated Faculty, Northwestern University, 2006-present
Faculty Fellow, Kellogg School of Management, Northwestern University, 2006-present
Assistant Professor of Finance, Kellogg School of Management, Northwestern University, 2006-2009

Grants and Awards
Elected as Board Member of the Society of Neuroeconomics, 2009-Present

Editorial Positions
Editorial Board, Journal of Neuroscience, Psychology and Economics, 2007-Present

Print Research
Research Interests
Corporate finance, behavioral finance, industrial organization, neuroeconomics and experimental finance

Eisfeldt, Andrea and Camelia M. Kuhnen. 2013. CEO Turnover in a Competitive Assignment Framework. Journal of Financial Economics. 103(2): 351-372.
Knutson, Brian, Camelia M. Kuhnen and Greg Samanez-Larkin. 2013. Serotonergic Genotypes, Neuroticism, and Financial Choices. PLoS ONE. 8(1)
Kuhnen, Camelia M. and Alexandra Niessen. 2012. Public Opinion and Executive Compensation. Management Science. 58(7): 1249-1272.
Kuhnen, Camelia M. and Agnieszka Tymula. 2012. Feedback, Self-Esteem and Performance in Organizations . Management Science . 58: 94-113.
Knutson, Brian, Camelia M. Kuhnen and Greg Samanez-Larkin. 2011. Gain and Loss Learning Differentially Contribute to Life Financial Outcomes. PloS ONE. 6(9)
Kuhnen, Camelia M. and Brian Knutson. 2011. The Influence of Affect on Beliefs, Preferences and Financial Decisions. Journal of Financial and Quantitative Analysis. 46(3): 605-626.
Wanat, Matthew J., Camelia M. Kuhnen and Paul, E.M. Phillips. 2010. Delays Conferred by Escalating Costs Modulate Dopamine Release to Rewards but not their Predictors . Journal of Neuroscience. 30(36): 12020-12027.
Samanez-Larkin, Greg, Camelia M. Kuhnen, Daniel J. Yoo and Brian Knutson. 2010. Variability in Nucleus Accumbens Activity Mediates Age-Related Suboptimal Financial Risk. Journal of Neuroscience. 30(4): 1426-1434.
Kuhnen, Camelia M.. 2009. Business Networks, Corporate Governance and Contracting in the Mutual Fund Industry. Journal of Finance. 64(5): 2185-2220.
Kuhnen, Camelia M. and Joan Chiao. 2009. Genetic Determinants of Financial Risk Taking. PLoS ONE. 4(2)
Knutson, Brian, Camelia M. Kuhnen, G. Elliott Wimmer and Piotr Winkielman. 2008. Nucleus Accumbens Activation Mediates the Influence of Reward Cues on Financial Risk Taking. NeuroReport. 19(5): 509-513.
Kuhnen, Camelia M. and Brian Knutson. 2005. The Neural Basis of Financial Risk Taking. Neuron. 47(5): 763-770.
Working Papers
Kuhnen, Camelia M. and Paul Oyer. 2012. Exploration for Human Capital: Theory and Evidence from the MBA Labor Market.
Kuhnen, Camelia M.. 2012. Asymmetric learning from financial information.
Kuhnen, Camelia M.. 2011. Searching for Jobs: Evidence from MBA Graduates.
Kuhnen, Camelia M. and Jeffrey Zwiebel. 2009. Executive Pay, Hidden Compensation and Managerial Entrenchment.
Kuhnen, Camelia M.. 2004. Dynamic Contracting in the Mutual Fund Industry.

Print Teaching
Teaching Interests
Introductory finance