20th Meeting at Carnegie Mellon University (Spring 2019)

May 03 - May 04, 2019

Tepper School of Business, Carnegie Mellon University


20th Members Meeting of the Finance Theory Group


Friday, May 3, 2019


15:30 - 16:30       Parallel Session 1, Room 1

On the Magnificaction of Small Biases in Decision-making

Shaun William Davies, Edward Dickersin Van Wesep and Brian Waters


Misallocation and Risk Sharing

Hengjie Ai, Anmol Bhandari, Yuchen Chen and Chao Ying


15:30 - 16:30       Parallel Session 1, Room 2

Dealer Funding and Market Liquidity

Max Bruche and John C.F. Kuong


A Theory of Liquidity in Private Equity

Vincent Maurin, David T. Robinson and Per Str¨omberg


16:30 - 17:00                      Coffee Break


17:00 - 18:00       Parellel Session 2, Room 1

Endogenous Specialization and Dealer Networks

Batchimeg Sambalaibat


Inventory Management, Dealers’ Connections, and Prices in OTC Markets

Jean-Edouard Colliard, Thierry Foucault and Peter Hoffmann


17:00 - 18:00       Parallel Session 2, Room 2

FinTech Disruption, Payment Data, and Bank Information

Christine A. Parlour, Uday Rajan and Haoxiang Zhu


Information Cascades and Threshold   Implementation

Lin William Cong and Yizhou Xiao


18:00 - 19:30          Members Happy Hour (in the Tepper School)


19:30 -                   Small Group Dinners


Saturday, May 4, 2019


8:30 - 9:00             Breakfast and Registration


09:00 - 10:00        Learning in Financial Markets: Implications for Debt-Equity Conflicts

Jesse Davis and Naveen Gondhi


10:00 - 10:15          Break


10:15 - 11:15        Asymmetric Information and Security Design under Knightian Uncertainty

Andrey Malenko and Anton Tsoy


11:15 - 11:30           Break


11:30 - 12:30        Corporate Liquidity Management under Moral Hazard

Barney Hartman-Glaser, Simon Mayer and Konstantin Milbradt


12:30 - 14:00                    Lunch & Members Meeting


14:00 - 15:00        A Theory of Participation in OTC and Centralized Markets

Jerome Dugast, Semih Uslu and Pierre-Olivier Weill


15:00 - 15:15          Break


15:15 - 16:15        The Tragedy of Complexity

Martin Oehmke and Adam Zawadowski


16:15 -                    Adjourn



Organizers: Selman Erol, Deeksha Gupta, and Ariel Zetlin-Jones


Useful information:



We have reserved hotel rooms at the­ Hyatt House (Pittsburgh/Bloomfield/Shadyside) (Group Code: G-TFTC) and SpringHill Suites by Marriott (Bakery Square). Both hotels provide convenient access to the Tepper school. The Hyatt House rate is $132 per night and the SpringHill Suites rate is $149 per night. In either case, please reference "CMU-Tepper Finance Theory Conference" when making a reservation and book before April 3, 2019.