Koustav De is a PhD candidate in Finance at Stephen M. Ross School of Business, University of Michigan.
dpArea of Interest:
Asset Pricing,
Behavioral Finance (particularly investor behavior)

Stephen M. Ross School of Business,
University of Michigan,
R5421,701 Tappan St.
Ann Arbor, MI, 48109
Curriculum Vitae

Working Papers:

Disposition Effect and Market Timing
This paper finds evidence that despite disposition effect investor decision to sell or hold on to stock is rational in the short run. First of all, running hazard models on a large data-set spanning over fourteen years, I find that the decision to sell a stock is more related to its short term return jump, rather than its overall return over the entire holding period. Moreover, individuals’ decision to sell/hold a stock is extremely well timed in the short run (weekly horizon). On average, individual investors are successful at timing their selling/holding decisions of individual stocks, both with respect to the market performance and the overall performance of their own portfolios.

Consumption Based Asset Pricing Adjusting for Measurement Error in Consumption [link]
This paper presents a modification to the testable Euler equation in the form of an adjustment term due to additive measurement error in consumption data. The error in consumption data has the potential to magnify the equity premium puzzle in a CRRA framework and including the adjustment term leads to a reduction in the estimated risk aversion coefficient. The paper also empirically estimates a ballpark figure for the variance of measurement error and demonstrates a significant resolution of the puzzle by including measurement error in the model. Using the correction term, with the standard consumption data from  BEA, I solve the equity premium with a relative risk aversion coefficient of 2.6.