Ivo Welch

Visiting Professor, Finance

Ivo Welch

Visiting Professor of Finance

Academic Area:

Research Statement

I am an applied economist. I am most well-known for my work on Informational Cascades. However, I have also worked on stock market prediction, earnings manipulation, dividend policy, issuing activity, IPOs, evolutionary behavior (overconfidence), law and economics, bankruptcy, and bankruptcy design, liquidity and financial market runs, government bailouts, divestment, and who knows what. (I am quite old!) My methods are whatever suits the question. It's been fun — like a kid in a candy store. I will settle down when I grow up. I have been very involved with bringing more critiques to finance and economics with the CFR journal. Right now, I am fascinated by climate change. In some aspects, it seems to me that the literature (on all sides) is trying to saddle the horse backwards — except there is no horse.

Research Interests

  • Applied Economics

Teaching Statement

I have taught many courses over the years. Right now, I am teaching quantitative investing for MBA students, climate-change for graduate student, and PhD courses. I prefer interactive challenging classes — not necessarily for workload but for the intellectual challenge. Warning: I have a strange sense of humor, but I can take it as well as I can give it. Teaching and learning should be fun.


Ivo Welch is the J Fred Weston Distinguished Professor of Finance at UCLA. His work has been rather eclectic. His most influential work have been his papers are on Informational Cascades (rational herding), which have been among the most highly cited work in economic theory over the last 30 years. His citation count seems a little high.

Academic Degrees

  • PhD, The University of Chicago, 1991
  • MBA, The University of Chicago, 1989
  • BA in Computer Science, Columbia University, 1985
  • Abitur, Alexander-von-Humboldt Gymnasium, 1982

Academic Appointments

  • Professor, UCLA, 2011-present
  • Professor, Brown University, 2004-11
  • Professor, Yale University, 2000-05
  • Professor, UCLA, 1998-2001
  • Associate Professor, UCLA, 1995-98
  • Visiting Scholar, London Business School, Summer/Fall 1995
  • Assistant Professor, UCLA, 1989-95