- Paper Abstracts
- Honors & Awards
Peter M. DeMarzo
Mizuho Financial Group Professor of Finance
Senior Associate Dean, Academic Administration
Graduate School of Business, Stanford, CA 94305-5015
Current Courses: Managerial Finance (fall), Financial Modeling (spring)
Office Hours: By Appointment, E255
Stanford Graduate School of Business Finance Group
- Graduate School of Business, Stanford University, 2000-Present
- Haas School of Business, UC Berkeley, 1997-2001
- Kellogg Graduate School of Management, Northwestern University, 1989-1997
- National Fellow, Hoover Institution, 1992-1993
- Ph.D., Economics, Stanford University, 1989
- M.S., Operations Research, Stanford University, 1985
- B.A., Cognitive Science, University of California, San Diego, 1984
- B.A., Applied Mathematics, University of California, San Diego, 1984
Selected Papers & Publications
- "Endogenous Information Flows and the Clustering of Announcements," with Viral Acharya and Ilan Kremer. American Economic Review, forthcoming.
- "Dynamic Agency Theory meets the Q-Theory of Investment," with Michael Fishman, Neng Wang, and Zhiguo He. Journal of Finance, forthcoming.
- "Relative Wealth Concerns and Financial Bubbles," with Ilan Kremer and Ron Kaniel. Review of Financial Studies, 2008, vol. 21, 19-50.
- "Optimal Long-Term Financial Contracting," with Michael Fishman. Review of Financial Studies, 2007, vol. 20, 2079-2128. (WFA Best Corporate Finance Paper Award)
- "Technological Innovation and Real Investment Booms and Busts," with Ilan Kremer and Ron Kaniel. Journal of Financial Economics, 2007, vol. 85, 735-754.
- "Agency and Optimal Investment Dynamics," with Michael Fishman. Review of Financial Studies, 2007, vol. 20, 151-188. (Winner of Michael Brennan Award Second Place Prize.)
- "A Continuous-Time Agency Model of Optimal Contracting and Dynamic Capital Structure," with Yuliy Sannikov, forthcoming, Journal of Finance.
- "Agency and Optimal Investment Dynamics," with Michael Fishman, forthcoming, Review of Financial Studies.
- "Optimal Trading and Asset Pricing with a Large Shareholder," with Branko Urosevic, forthcoming, Journal of Political Economy
- "Bidding with Securities: Auctions and Security Design," with Ilan Kremer and Andrzej Skrzypacz, American Economic Review, 2005, 95, 936-959. (WFC Best Paper Award, 2004.)
- "Optimal Long-Term Financial Contracting with Privately Observed Cash Flows," with Michael Fishman. (WFA Best Corporate Finance Paper Award, 2001.)
- "Contracting and Enforcement with a Self-Regulatory Organization," with Michael Fishman and Kathleen Hagerty. Review of Economic Studies, 2005, 72, 687-706.
- "The Pooling and Tranching of Securities: A Model of Informed Intermediation." Review of Financial Studies, 2005, 18, 1-35.
- "A Near-Rational Model of Persuasion -- With Implications for Financial Markets," with Dimitri Vayanos and Jeff Zwiebel .
- "Diversification as a Public Good: Community Effects in Portfolio Choice," with Ron Kaniel and Ilan Kremer, Journal of Finance, 2004, 59, 1677-1715.
- "Persuasion Bias, Social Influence and Uni-Dimensional Opinions. with Dimitri Vayanos and Jeff Zwiebel, Quarterly Journal of Economics, 2003, 118:03, 909-968.
- "Aggregation, Determinacy, and Informational Efficiency for a Class of Economies with Asymmetric Information," with Costis Skiadas, Journal of Economic Theory, 1998, 80, 123-152.
- "Optimal Incentive Contracts when Agents Can Save, Borrow, and Default," with David Bizer, Journal of Financial Intermediation, 1999, 8, 241-269.
- "A Liquidity-Based Model of Security Design," with Darrell Duffie, Econometrica, 1999, 67, 65-99.
- "Sequential Trade and the Coase Conjecture: A General Model of Durable Goods Monopoly with Applications to Finance," with David Bizer.
- "The Optimal Enforcement of Insider Trading Regulations," with Michael Fishman and Kathleen Hagerty, Journal of Political Economy, 1998, 106, 602-632.
- "On the Uniqueness of Fully Informative Rational Expectations Equilibria," with Costis Skiadas, Economic Theory, 1999, 13, 1-24.
- "Computing Equilibria of GEI by Relocalization on a Grassmann Manifold," with Curtis Eaves, Journal of Mathematical Economics, 1996, 26, 479-497.
- "Computing Zeros of Sections of Vector Bundles using Homotopies and Relocalization," with Donald Brown and Curtis Eaves, Mathematics of Operations Research, 1996, 21, 26-43.
- "Corporate Incentives for Hedging and Hedge Accounting," with Darrell Duffie, Review of Financial Studies, 1995, 8, 743-771.
- "Computing Equilibria when Asset Markets are Incomplete," with Donald Brown and Curtis Eaves, Econometrica, 1996, 64, 1-27.
- "Corporate Financial Hedging with Proprietary Information," with Darrell Duffie, Journal of Economic Theory, 1991, 53, 261-286.
- "Coalitions, Leadership, and Social Norms: The Power of Suggestion in Games," Games and Economic Behavior, 1992, 4, 72-100.
- "Sequential Banking," with David Bizer, Journal of Political Economy, 1992, 100, 41-61.
- "Majority Voting and Corporate Control: The Rule of the Dominant Shareholder," Review of Economic Studies, 1993, 60, 713-734.
- "An Extension of the Modigliani-Miller Theorem to Stochastic Economies with Incomplete Markets and Interdependent Securities," Journal of Economic Theory, 1988, 45, 353-369.
- President: Western Finance Association, 2010-2011
- President-Elect & Program Chair: Western Finance Association, 2009-2010
- Vice President: Western Finance Association, 2008-2009
- Director: American Finance Association, 2006-2009
- Director: Western Finance Association, 2000-2003
- Program Committee Member (current or former): Western Finance Association, Utah Winter Finance Conference, American Finance Association.
- Associate Editor (current or former): Financial Management, The Review of Financial Studies, B.E. Journal in Economic Analysis and Policy.