Rawley Z. Heimer
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Research

Research Areas

My research spans household finance, behavioral economics, consumer credit, and financial institutions. I use high-quality microeconomic data — credit bureau records, brokerage accounts, administrative datasets — to study how individuals and institutions make financial decisions, and what the consequences are for welfare and policy.

Research Areas
01
Life-long Financial Security
How individuals accumulate, deploy, and transmit wealth across their lifetimes — savings, debt, entrepreneurship, mortality beliefs, and bequests.
9 papers · JFE, RFS, J. Finance, Penn Press
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02
Retail Trading
Behavioral biases in financial markets — dynamic inconsistency, the disposition effect, leverage constraints, and the role of social networks in trading decisions.
6 papers · AER, RFS, JFE, FRB Cleveland
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03
Consumer Finance
Household debt and credit access, fair lending, political interference in financial regulation, and consumer protection through the CFPB.
9 papers · JFE, RFS, SSRN, FRB Cleveland
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04
Real Estate
Mortgage access and racial disparities in lending, single-family institutional investors, intergenerational homeownership, and housing demand measurement.
5 papers · JFE, FRB Cleveland
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05
Financial Institutions & FinTech
How legal institutions, political power, and financial technologies shape the supply of credit and the behavior of financial intermediaries.
8 papers · JFE, RFS, World Bank, JFE
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06
Behavioral & Social Finance
Biased beliefs, dynamic inconsistency, and the sociology of investing — including how social networks propagate active trading strategies and behavioral mistakes.
7 papers · AER, RFS, J. Finance, JEBO
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© 2025 Rawley Z. Heimer  ·  W.P. Carey School of Business, Arizona State University  ·  rawley.heimer@asu.edu