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Adam Hayes
Adam Hayes
Adam Hayes
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The launch of HMS Cambridge (left) at Deptford Dockyard in 1755
Model of HMS Enterprise by Hayes
Model of HMS Egremont at National Maritime Museum by Hayes

Adam Hayes (1710 – 20 December 1785) was an English shipwright who worked for the Royal Navy. A great number of his models survive. He was responsible for the selection of the ship the Earl of Pembroke and was the wright who converted it into HMS Endeavour in 1768 for use by Captain Cook.

Life

[edit]

He was born in the parish of St Botolph's, Aldgate in east London, the son of Adam Hayes and his wife, Sarah Urmstone. His father was a haberdasher. He joined the Royal Navy as a boy, around 1722, and became ship's carpenter.

In 1740 he was part of the crew on HMS Centurion under Captain George Anson as flagship of a part of a special fleet heading first to South America then around Cape Horn in March 1741 and into the Pacific. The overall objective was then to attack the Spanish colony at Manila in the Philippines on the far side of the ocean. The Spanish got wind of this and sent their own fleet to intercept. As part of the actions the Centurion captured and plundered the Spanish galleon Nuestra Senora de Covadonga in 1743.[1] By tradition, the crew all shared part of the treasure gained. They returned to England in June 1744. Hayes transferred to work on HMS Kent: it is unclear if this was to break the old HMS Kent at Chatham (the ship was over 60 years old) or to build the new HMS Kent at Deptford, but it appears to have been a dock-based employment either way. The latter is more likely, and appears to have led both to recognition of his skills and permanent shore-based employment. He was therefore in Deptford 1744 to 1746 – until the launch of HMS Kent.[2]

The process of shipbuilding in those days (and still) involves first making a scale model of the ship, and this would be part of the master shipwright's duties: a great number of Hayes' models survive.[3]

From 1746 to 1748 he was assistant master shipwright at Gibraltar Docks and in 1748 returned to England as master mastmaker at Chatham Dockyard from April 1748 to May 1749.[2] From May 1749 to November 1750 he was assistant master shipwright at Plymouth Dockyard. He was then at Woolwich Dockyard for 8 months before being promoted to master shipwright at Sheerness Dockyard, where he spent 11 months before returning the Woolwich as master shipwright in June 1752, from which point the Royal Navy lists his projects.[4]

From March 1753 to August 1755 he was master shipwright at Chatham before moving permanently to a settled position at Deptford. In Deptford, over the next 30 years, he produced a very large number of ships, including a dozen ships of the line.[4]

He died in Deptford on 20 December 1785. He is buried in St Mary's Church in Newington (Kennington).[5]

Captain Cook connection

[edit]

In 1768 it was Hayes who was chosen by the Admiralty and Royal Society to select a vessel suitable for exploration of the southern hemisphere and to convert said ship (before Cook was chosen as captain). For various reasons it was not possible to select an existing Royal Navy vessel nor to commission on that basis.[2]

Hayes selected the Earl of Pembroke, privately owned and moored at Shadwell. She had been built at Whitby in 1764. Hayes oversaw the refitting at Deptford and relaunched the ship under the name HMS Endeavour. The refit took only around three months. She was delivered to him on 5 April and relaunched on 21 July 1768. As the ship was designed originally to carry coal, a large amount of ballast had to be added to get the ship to handle as intended.[6]

She was registered as a Royal Navy ship as a "bark" (barque) of 368 tons under the name HMS Endeavour. The choice of name appears to derive from the Middlesex election affair of 1768, where John Wilkes repeatedly used the term "endeavour".[7]

Ships built

[edit]

Family

[edit]

He was married to Elizabeth Hayes (1714–1758). They had no children. Hayes was great uncle to Rear Admiral Sir John Hayes.

References

[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Adam Hayes

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Adam Hayes is an American and , holding a PhD in from the (awarded in 2021) and , and serving as Professor of Sociology at the in Switzerland. Hayes is renowned for his research exploring the social dimensions of economic behavior, including fintech, household finance, behavioral economics, and the social studies of finance. His work employs experimental and mixed methods to examine how social forces influence financial decisions and risk-taking, bridging sociological theory with practical applications in digital sociology and financial technologies. A key contribution to the field is his book, Irrational Together: The Social Forces That Invisibly Shape Our Economic Behavior, published by the in 2025, which delves into the invisible social influences shaping individual and collective economic actions. Additionally, Hayes has made significant contributions as a contributor to , where he provides expert insights on , economics, and topics. His academic profile is further highlighted by his role as Chair of and Blockchain at the Zug Institute for Blockchain Research, underscoring his interdisciplinary focus on emerging financial technologies.

Early Life and Education

Early Life

Details regarding Adam Hayes' early life, including his birth date, location, family background, and formative experiences, are not publicly documented in available sources.

Education

Adam Hayes earned a in Biological Science from in Ithaca, New York, graduating in 2001. This provided an early foundation in , which later informed his to . Following his , pursued graduate studies in economics, obtaining a from in New York, between 2013 and 2015. This program equipped him with analytical tools in economic theory, bridging his interests in and . Hayes completed his Doctor of Philosophy in Sociology at the University of Wisconsin-Madison in May 2021, specializing in economic sociology. His dissertation, titled “New Sociological Perspectives on Economic Behavior and Risk-Taking,” explored the social influences on financial choices, laying the groundwork for his subsequent research on household finance and fintech. In addition to his academic degrees, Hayes holds the charter, a professional certification that enhances his expertise in and supports his examination of within . This credential, earned through rigorous training in investment analysis and , underscores his ability to integrate practical financial knowledge with .

Professional Career

Early Career

Following the completion of his PhD in from the in May 2021, Adam Hayes transitioned into academia with his post-PhD appointment as in the Department of Sociology and Anthropology at the Hebrew University of Jerusalem, a position he held from 2021 to 2025. This role marked his entry into full-time post-doctoral scholarly work, where he focused on teaching and research at the intersection of and . Prior to pursuing his doctorate, Hayes entered the with an extensive tenure on spanning over 15 years, beginning after his from . During this period, he worked as a derivatives trader and , with additional experience in and , ultimately earning his charterholder status. Hayes' early finance roles provided foundational insights into market dynamics, which he later bridged with through initial research projects during his and immediate phases, such as studies on and that examined how technology shapes . These efforts highlighted collaborations between economic theory and social analysis, including publications on the of passive investing.

Academic Positions

Adam Hayes began his academic career in faculty positions following his PhD. From 2021 to 2026, he served as in the Department of Sociology and Anthropology at The Hebrew University of Jerusalem in . In this role, Hayes taught courses related to , , and , drawing on his expertise in sociological perspectives on financial behavior. In 2023, Hayes held a in the Department of Sociology at in the , where he contributed to research on social forces in . Since 2025, Hayes has been Professor of Sociology in the Department of Sociology at the University of Lucerne in Switzerland, where he also serves as Chair of Sociology and Blockchain at the Zug Institute for Blockchain Research. In this current position, his teaching duties include advanced courses on economic sociology and fintech, emphasizing the social dimensions of financial technologies and household finance.

Industry Experience

Prior to pursuing an academic career, Adam Hayes accumulated over 15 years of professional experience on , primarily as a derivatives trader and . His roles included serving as an equity derivatives sales trader, where he engaged in the trading and sales of complex , contributing to market-making and in high-stakes environments. Additionally, Hayes had a brief involvement in and , applying financial expertise to personalized client strategies and . As a charterholder since 2015, Hayes integrated CFA principles into his practical work in economic analysis, particularly in evaluating and investment opportunities through rigorous quantitative and . This certification enhanced his ability to conduct sophisticated and during his trading career, bridging with broader economic insights. In advisory capacities, Hayes has contributed to financial consulting tied to on emerging systems, notably as a member of the Board of Advisors for the , where he focuses on and innovative money systems. These engagements allowed him to apply his -honed expertise to advisory roles that explore the social underpinnings of financial technologies and . This industry background briefly overlaps with his academic research by providing for studies on in economic behavior.

Research Focus

Key Research Areas

Adam Hayes' research primarily centers on , examining how and relationships shape and outcomes. His work explores the interplay between , cultural influences, and , highlighting how these factors contribute to in . A key focus of Hayes' scholarship is the , particularly how and drive behaviors in . He investigates concepts such as in investment choices and the role of networks in perpetuating , emphasizing that financial actions are rarely isolated but embedded in broader social contexts. Hayes also delves into fintech and , analyzing their societal implications, including and , to understand how technological innovations intersect with social forces to transform economic practices. His research interests have evolved from his PhD dissertation titled “New Sociological Perspectives on Economic Behavior and Risk-Taking” at the (awarded 2021), which laid the groundwork for his explorations in and fintech, including early publications on the socio-technological aspects of Bitcoin, to contemporary projects on the social underpinnings of household finance and broader economic behaviors at the .

Methodological Approaches

Adam Hayes employs a mixed-methods approach in his research on , combining qualitative and quantitative techniques to examine the social dimensions of . His qualitative methods often include and to capture the nuanced social and cultural influences on economic decisions. For instance, in studies exploring financial influencers and , Hayes utilizes to reveal patterns such as in , where men emphasize quantitative aspects while women incorporate narratives and personal stories. Additionally, his work on enhancing qualitative research through large language models demonstrates the application of advanced tools to analyze interview data, aligning patterns with to deepen insights into . On the quantitative side, Hayes frequently applies to quantify on , particularly in areas like fintech and cryptocurrency markets. His on Bitcoin, for example, involve constructing using statistical analysis of network data and to support . These approaches allow him to test hypotheses about in through rigorous , often integrating to measure . Hayes notably integrates with , drawing on thinkers like to bridge sociological concepts with . In his theoretical work, he applies Bourdieu's ideas on and to explain how shape , creating that challenge traditional . This integration is evident in his broader research program, which applies these methods to key areas such as and fintech.

Publications and Contributions

Major Books

Adam Hayes' most prominent book-length contribution is Irrational Together: The Social Forces That Invisibly Shape Our Economic Behavior, published by the in 2025. This monograph explores the interplay between and individual financial decision-making, arguing that seemingly irrational choices in household finance are often shaped by collective social forces such as peer networks, cultural norms, and rather than purely . Drawing on original research and engaging real-world examples, Hayes demonstrates how can lead to synchronized behaviors in areas like savings, , and , challenging that emphasize . The book originated from Hayes' extensive original research on the , including studies of conducted during his and early academic career. Key chapters delve into specific mechanisms, such as the role of and in shaping and the of and literacy, supported by rigorous analysis and examples from diverse . Reception has been positive among scholars in and behavioral finance, with reviews praising its integration of with insights on . No other major or co-authored books by Hayes have been published as of 2026, though his work in Irrational Together builds on themes from his broader research in fintech and .

Scholarly Articles

Adam Hayes has authored or co-authored numerous peer-reviewed articles in , focusing on the social dimensions of financial decision-making, fintech innovations, and household finance, with his collective body of work garnering over 3,979 citations as of the latest available data. His publications appear in prominent journals such as Applied Economics Letters, Economy and Society, and Socio-Economic Review, often employing mixed methods to explore how influence . Hayes' articles frequently bridge with of markets, emphasizing collaborative works that advance debates on relational economics and algorithmic influences. A seminal contribution is Hayes' 2019 article "Bitcoin price and its : support for a ," published in Applied Economics Letters, which examines the linkage between Bitcoin's market price and its , providing empirical support for a cost-based model of cryptocurrency valuation and challenging purely of its value. This solo-authored piece, cited 217 times, highlights how technological and economic factors intersect in emerging digital markets, influencing subsequent research on fintech fundamentals. Similarly, in "The evolution of the bitcoin economy: Extracting and analyzing the network of payment relationships" (2018, The Journal of Risk Finance, cited 192 times), Hayes and co-authors Paolo Tasca and Stella Liu analyze to map Bitcoin's , revealing patterns of and resilience that underscore the social and structural underpinnings of decentralized finance. Hayes' work on algorithmic finance is exemplified by "The active construction of passive investors: and algorithmic ‘low-finance’" (2021, Socio-Economic Review, cited 48 times), where he investigates how roboadvisors automate modern portfolio theory to transform lay investors into approximations of , effectively bridging the gap between and everyday financial practice. Building on this, his 2020 article "Enacting a rational actor: Roboadvisors and the algorithmic performance of ideal types" in Economy and Society demonstrates through qualitative analysis how these tools perform for non-professional users, enacting via technological mediation and altering the . Key findings include the algorithmic devotion to , which empowers ordinary individuals to mimic professional strategies, thus reshaping access to along social lines. In the realm of and , Hayes' collaborative 2022 article "Deciding between Domains: How Borrowers Weigh Market and Interpersonal Options," co-authored with Rourke O’Brien and Barbara Kiviat and published in Social Psychology Quarterly, uses to show that borrowers' to decreases when interpersonal options are (e.g., asking a superior for a loan), while concerns about relational damage from social borrowing lessen if market alternatives are costly. These findings illustrate how mediate , with making market options more appealing regardless of price, thereby advancing 's understanding of in . Another notable piece, "The of " (2020, Sociological Theory, cited 58 times), applies Bourdieu's concepts of and to critique and extend behavioral economics, arguing for a sociologically informed view of in economic actions that his later empirical studies on risk-taking and further develop. Hayes' recent collaborative works continue to probe these themes, such as "Under the finfluence: Financial influencers, economic meaning-making and the financialization of digital life" (2024, Economy and Society, cited 45 times) with Ayelet T. Ben-Shmuel, which analyzes how social media influencers shape economic interpretations and integrate into everyday , fostering new forms of . Overall, these articles, often involving , contribute to field debates by empirically demonstrating the in social contexts, with high citation impacts signaling their influence on fintech and . Adam Hayes has contributed numerous articles to , an educational platform aimed at demystifying complex financial and economic concepts for general readers. His writings there cover topics such as economics, , entrepreneurship, and the influence of social forces on markets, drawing on his expertise to make sociological insights accessible. For instance, in his 2025 article "How Social Dynamics Are Quietly Shaping Your Economic Reality," Hayes explores how dictate through and , helping readers understand the relational aspects of . Other notable pieces by Hayes include practical guides on personal finance and investment strategies. In "How People in Their 40s Save for Retirement" (October 2025), he provides actionable advice on tailored to mid-career professionals, emphasizing diversified savings approaches amid . Similarly, his January 2026 article "Lessons from Warren Buffett's Right-Hand Man on Success and How to Dodge Costly Mistakes" analyzes investment philosophies from Charlie Munger, highlighting principles like avoiding in decision-making to underscore broader lessons in entrepreneurial resilience. Earlier, Hayes authored "Blockchain Facts: What Is It, How It Works, and How It Can Be Used" in 2016, offering an introductory overview of blockchain technology's applications in finance and beyond, which has been widely referenced for its clarity. Through these contributions, Hayes plays a key role in disseminating on to non-academic audiences, bridging scholarly research with everyday . His work, informed briefly by his academic studies on , has helped educate millions on topics ranging from fintech innovations to . While primarily focused on Investopedia, Hayes has also shared insights via professional profiles, reinforcing his commitment to public education on these subjects.

Recognition and Influence

Awards and Honors

Adam Hayes has received several prestigious grants, fellowships, and awards throughout his academic career, particularly recognizing his contributions to and research on financial behaviors. In 2024, Hayes was awarded a Bi-National Research Grant valued at $500,000, supporting collaborative international research efforts. From 2022 to 2025, he secured an Individual Research Grant from the Israel Science Foundation (ISF) amounting to $168,000, funding his work on . That same year, he was named a Golda Meir Fellow at The Hebrew University of Jerusalem, a distinction for early-career scholars in . Earlier in his career, during his graduate studies at the , Hayes received multiple supports from the , including a Graduate Research Fellowship from 2016 to 2021 and a Small Grant for Research Support ($25,000) from 2017 to 2018, which facilitated his dissertation research on household finance. He also held a Holtz Center Graduate Research Fellowship ($4,000) from 2018 to 2019, focused on intersections with economics. In 2018, Hayes was selected for a top-up fellowship from the Robert F. and Jean E. Holtz Center for Science & Technology Studies, providing additional funding for -related graduate work. Other notable honors include the 2015 Best Paper Award at the Mediterranean Conference on Information Systems (MCIS) in Samos, Greece, for his research on in economic contexts, and the Ingrid H. Rima Scholarship ($450) from the in 2018. Additionally, from 2013 to 2015, he received the Provost’s Scholarship at to support his master's studies in .

Impact on Field

Adam Hayes' scholarship has significantly influenced and the , as evidenced by his accumulated 3979 citations on , reflecting the broad reception of his work on topics such as and fintech. His highly cited publications, including "Bitcoin price and its marginal cost of production: support for a fundamental value" with 217 citations and "The evolution of the bitcoin economy: Extracting and analyzing the network of payment relationships" with 192 citations, have shaped subsequent research by providing empirical frameworks for understanding cryptocurrency dynamics and their social implications. These works have been referenced in studies exploring fintech innovations and the intersection of technology with economic sociology, demonstrating Hayes' role in advancing theoretical and methodological approaches in these subfields. Hayes has contributed to policy and industry discussions on through his accessible explanations of financial concepts, such as , which were cited in a 2025 White House report on . His practical experience, including co-founding a startup focused on digital provenance, has bridged academic research with industry applications, informing innovations in decentralized finance. Additionally, as a former Finance and Economics Editor at , Hayes' writings on social forces in financial decision-making have provided foundational insights for regulators and practitioners navigating fintech's societal impacts. Through his teaching and supervision at institutions including the , Hayes has mentored graduate students, as seen in co-authored publications like "Under the Finfluence: Financial Influencers, Economic Meaning-Making, and the Financialization of Digital Life" with Ambreen Ben-Shmuel. He shapes emerging scholars in by leading seminars such as Ph.D. Writing Workshops and courses on , fostering the next generation's research on relational economic behaviors. His editorial roles, including Associate Editor of Finance and Society, further extend his influence by guiding the field's discourse on post-boom trends.

References

  1. https://adamhay.es/cv/
  2. https://orcid.org/0000-0001-5481-8906
  3. https://www.investopedia.com/contributors/53677/
  4. https://ch.linkedin.com/in/ahayes4
  5. https://adamhay.es/wp-content/uploads/2024/10/adam-hayes-cv-2024.pdf
  6. https://en.sociology.huji.ac.il/people/dr-adam-hayes
  7. https://www.usi.ch/en/feeds/24360
  8. https://adamhay.es/wp-content/uploads/2021/05/Hayes-2020-Enacting-a-rational-actor.pdf
  9. https://adamhay.es/2021/02/active-construction-of-passive-investors/
  10. https://adamhay.es/wp-content/uploads/2025/09/adam-hayes-cv-9-2025.pdf
  11. https://adamhay.es/
  12. https://www.unilu.ch/fakultaeten/ksf/institute/soziologisches-seminar/mitarbeitende/prof-dr-adam-hayes/
  13. https://blogs.cfainstitute.org/investor/2025/10/09/book-review-irrational-together/
  14. https://golden.com/wiki/Adam_Hayes-EK8AMJ4
  15. https://scholar.google.com/citations?user=wPSAIOAAAAAJ&hl=en
  16. https://adamhay.es/wp-content/uploads/2019/02/Hayes-Socio-Tech-Lives-Bitcoin-1.pdf
  17. https://journals.sagepub.com/doi/10.1177/23780231241267131
  18. https://journals.sagepub.com/doi/10.1177/16094069251322346
  19. https://press.uchicago.edu/ucp/books/book/chicago/I/bo246612893.html
  20. https://www.tandfonline.com/doi/abs/10.1080/03085147.2020.1782054
  21. https://journals.sagepub.com/doi/abs/10.1177/01902725221108964
  22. https://www.investopedia.com/social-dynamics-and-your-economic-reality-11753972
  23. https://www.investopedia.com/retirement-savings-in-your-40s-11830837
  24. https://www.investopedia.com/lessons-from-warren-buffetts-right-hand-man-on-success-and-how-to-dodge-costly-mistakes-11877525
  25. https://adamhay.es/wp-content/uploads/2024/03/adam-hayes-cv-2023-2.pdf
  26. https://sts.wisc.edu/2018/11/07/2018_top_up_fellowship_winners/
  27. https://www.whitehouse.gov/wp-content/uploads/2025/07/digital-Assets-Report-EO14178.pdf
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