教学项目
教师与研究
学生发展
国际交流
校友
合作发展
研究机构
关于我们

【学术预告】哥本哈根商学院教授Lasse Heje Pedersen学术研讨会:Game On: Social Networks and Markets

时间: 2022-05-11 15:00 来源: 作者: 浏览量:677 字号: 打印


主题:Game On: Social Networks and Markets

主讲人:Lasse Heje Pedersen,哥本哈根商学院教授、纽约大学斯特恩商学院特聘教授

时间:511日(周三)3:00-4:30

地点:线上

语言:英文

 

摘要:

I present closed-form solutions for prices, portfolios, and beliefs in a model where four types of investors trade assets over time: naive investors who learn via a social network, “fanatics” possibly spreading fake news, and rational short- and long-term investors. I show that fanatic and rational views dominate over time, and their relative importance depends on their following by influencers. Securities markets exhibit social network spillovers, large effects of influencers and thought leaders, bubbles, bursts of high volume, price momentum, fundamental momentum, and reversal. The model sheds new light on the GameStop event, historical bubbles, and asset markets more generally.  

 

主讲人介绍

Lasse Heje Pedersen is a financial economist who loves to solve real-world problems using models and data. A Stanford PhD, he is a finance professor at Copenhagen Business School and NYU and a principal at AQR. He has served as Director of the American Finance Association, in the Liquidity Working Group meeting at the Federal Reserve Bank of New York to address liquidity issues, on the Economic Advisory Boards of NASDAQ and FTSE, and on several editorial boards, including the Journal of Finance and Quarterly Journal of Economics. His academic awards include the Bernácer Prize to the best E.U. economist under 40 years of age, the Banque de France-TSE Prize, the Stephen A. Ross Prize, Fama-DFA Prizes, the Michael Brennan Award, the Brattle Prize, and Graham and Dodd Top Awards.