Albert S. (Pete) Kyle and Philip H. Dybvig visited the SRC and gave two inspiring seminars on Smooth Trading with Overconfidence and Market Power and Tobin's q Does Not Measure Firm Performance: Theory, Empirics, and Alternatives this week.
Pete Kyle is currently Charles E. Smith Chair Professor of Finance at the University of Maryland’s Robert H. Smith School of Business. His research focuses on market microstructure, including topics such as high frequency trading, informed speculative trading, market manipulation, price volatility, the informational content of market prices, market liquidity, and contagion.
Philip H. Dybvig, Boatmen's Bancshares Professor of Banking and Finance at Washington University in Saint Louis, is a prominent financial economist. He is best-known for his paper, Diamond-Dybvig [1983], one of the most widely cited papers in Finance and Economics and often the starting point for discussions of the financial crisis.
Apart from the two seminars, our staff and students also benefited from many informal conversations and interactions with the two scholars.
