UCLA Anderson Faculty Recognized for Contributions to Their Fields
UCLA Anderson Faculty Recognized for Contributions to Their Fields
Tyler Muir, Eugene Caruso, Mark Garmaise and Cassie Holmes earn chair appointments
November 27, 2023
- Associate Professor Tyler Muir is the Donnalisa (’86) and Bill Barnum Endowed Chair in management, effective January 1, 2023, through December 31, 2025
- Professor Eugene Caruso is the Bing (’86) and Alice Liu Yang Endowed Chair in Teaching Excellence, effective January 1, 2023, through December 31, 2025
- Professor Mark Garmaise is the Joel Fried Chair in Applied Finance, retroactive to January 1, 2023
- Professor Cassie Holmes holds the Bud Knapp Marketing Professorship, retroactive to July 1, 2023
Associate Professor of Finance Tyler Muir joined UCLA Anderson from the faculty of Yale School of Management in 2019. His main research interests are at the intersection of asset pricing, financial intermediaries and financial crises. His recent work has focused on how the health of the financial sector affects variation in asset prices. Muir finds that an intermediary-based asset pricing model can help explain returns across assets previously considered anomalies. He has also examined the behavior of asset prices during financial crises using historical data over 150 years and 14 countries, and documented substantial declines in stock and bond prices, even relative to the declines in macroeconomic fundamentals. Muir’s co-authored study on volatility received media attention for its findings that, contrary to conventional wisdom and practices, it pays to get out of the stock market in times of turbulence.
Professor Eugene Caruso is a member of UCLA Anderson’s Management and Organizations and Behavioral Decision Making areas, and is faculty co-director of the Inclusive Ethics Initiative. Prior to joining the Anderson faculty in 2018, he was an associate professor in the behavioral science program at the University of Chicago Booth School of Business. His interest in the psychology of judgment and decision making developed as an undergraduate at Princeton University, primarily in the course of studying with Eldar Shafir and Nobel Prize winner Daniel Kahneman. He earned his Ph.D. in social psychology from Harvard University, where he studied with Max Bazerman, Nick Epley, and Dan Gilbert. His dissertation explored some differences in how people perceive events that have already happened in the past compared to those that will happen in the future, with an emphasis on understanding the implications of these differences for moral and ethical decision making.
As a corporate finance scholar, Professor Mark Garmaise has focused his research on using empirical data to investigate the effects of asymmetric information and incomplete contracting as they relate to real estate markets and entrepreneurial firms. Although the theory of asymmetric information and incomplete contracting is well-developed, there has been little research into the empirical identification of cause and effect in markets, and his papers have made valuable contributions in these important but neglected areas. Garmaise is an award-winning instructor and highly respected authority on finance, venture capital and private equity. With his co-author Tobias Moskowitz (Ph.D. ’98), he received the 2004 BGI Brennan Award for the best paper published and the 2005 BGI Brennan Runner-Up Award for the best paper published, both in the Review of Financial Studies. Garmaise teaches the core corporate finance course and an elective on venture capital and private equity. He has been a member of the UCLA Anderson faculty since 2002 and served as dean of the full-time MBA program between 2014 and 2015.
Professor Cassie Holmes is a member of UCLA Anderson’s marketing and behavioral decision making areas. She studies happiness, highlighting the role of time. Her research examines such questions as how focusing on time (rather than money) increases happiness, how the meaning of happiness changes over the course of one’s lifetime and how much happiness people enjoy from extraordinary and ordinary experiences. Across these inquiries, her findings highlight the high level of happiness that stems from personally connecting with people and with the present moment. Holmes developed and teaches the popular course Applying the Science of Happiness to Life Design, which helps students thrive in their personal and professional lives. Based on this course, Holmes wrote the bestselling book Happier Hour: How to Beat Distraction, Expand Your Time, and Focus on What Matters Most, a practical guide to thinking about and spending time to live a more joyful life. Prior to joining UCLA Anderson in 2016, Holmes was a tenured faculty member at the Wharton School at the University of Pennsylvania, where she was an award-winning teacher of strategic brand management.