In a joint effort, the Wharton School with financial support from The Rodney L. White Center for Financial Research, and the Stanford Graduate School of Business at Stanford University are offering a workshop for outstanding Ph.D. students that will communicate the recent innovations that have transformed the field of money management. The workshop will teach students how to apply the rational expectations equilibrium concept to the money management industry and then explore the empirical consequences of applying the concept consistently.
The workshop will be co-taught by Professors Jonathan Berk and Jules van Binsbergen and will take place at Stanford’s GSB. It will feature lectures as well as expository sessions designed to elicit new ideas for original research. The workshop is intended for Ph.D. students who have completed most of their required course work and are either looking for dissertation topics or are working on their dissertations. There is room for 30 admitted students, who will receive funding to attend, including flight costs, hotel and meals.
The money management firm is an ideal place to study both asset pricing and corporate finance questions. There are few corporations that allow the level of transparency that a mutual fund firm offers – these firms offer a window into human decision making that is hard to match elsewhere. Consequently, the area offers a unique and rich opportunity for students looking for new ideas to help advance the field of economics.
Historically, researchers in the money management area have focused on a narrow set of questions like whether or not money managers are skilled, whether investors are getting a good deal or not, and how managers in the industry exploit their customers. In the past 15 years theoretical and empirical innovations have reshaped the field of money management opening up the possibility of using the industry to study a much broader set of questions. Just as the application of the rational expectations equilibrium transformed the stock pricing literature, the consistent application of this paradigm to the money management literature has the potential to transform the money management literature.
Students who wish to apply to attend the workshop, should upload a recent CV, an academic transcript and a short statement that does not exceed 300 words explaining why they would benefit from the workshop. In addition, you will need a short reference statement from your academic advisor that also should not exceed 300 words. This document must be submitted by your Academic Advisor directly to firstname.lastname@example.org. All documents must be in PDF Version and must be submitted by August 1, 2018.