Alberto G. Rossi
Hachigian Family Professor of Finance
Director of the AI, Analytics, and Future of Work Initiative
Visiting Fellow, The Brookings Institution
Research Interests:
- FinTech
- Household and Personal Finance
- Machine Learning
Contact Information:
McDonough School of Business, Office 427
Georgetown University
37th and O Street NW
Washington, DC, 20057
Email: agr60@georgetown.edu
Published and Accepted Papers
1. "How Costly are Cultural Biases? Evidence from FinTech" with Francesco D'Acunto and Pulak Ghosh
Journal of Financial Economics, Conditionally Accepted
2. "The Diversification and Welfare Effects of Robo-advising,'' with Stephen Utkus
(Previously titled "Who Benefits from Robo-advising? Evidence from Machine Learning")
Journal of Financial Economics, Forthcoming
3. "Goal Setting and Saving in the FinTech Era,'' with Antonio Gargano
Journal of Finance, Forthcoming
4. "Crowdsourcing Peer Information to Change Spending Behavior,'' with Francesco D'Acunto and Michael Weber
Journal of Financial Economics, Forthcoming
MEDIA COVERAGE: Wall Street Journal, Forbes, MarketWatch, ETF.COM, Chicago Booth Review, YouTube Video
5. "Regressive Mortgage Credit Redistribution in the Post-crisis Era," with Francesco D'Acunto
Review of Financial Studies, 2022, 35 (1), 482-525
6. "The Promises and Pitfalls of Robo-advising," with Francesco D'Acunto and Nagpurnanand Prabhala
Review of Financial Studies, 2019, 32 (5), 1982-2020
7. "Understanding the Sources of Risk Underlying the Cross-Section of Commodity Returns," with Gurdip Bakshi and Xiaohui Gao
Management Science, 2019, 65 (2), 619-641, Online Appendix
MEDIA COVERAGE: QuantPedia, Quantocracy
8. "Does it Pay to Pay Attention?" with Antonio Gargano
Review of Financial Studies, 2018, 31 (12), 4595-4649. Lead article (Editor's choice)
AWARDS: Semi-finalist at the 2017 CFA Institute Asia Pacific Capital Markets Research Award
MEDIA COVERAGE: Harvard Law School Forum on Corporate Governance and Financial Regulation, Reuters, CNBC, Business Insider, @WBNews, Yahoo Finance, Smith Brain Trust
9. "Network Centrality and Delegated Investment Performance,” with David Blake, Allan Timmermann, Ian Tonks and Russ Wermers
Journal of Financial Economics (Lead Author), 2018, 128, 183-206
10. "The Freedom of Information Act and the Race Towards Information Acquisition," with Antonio Gargano and Russ Wermers
Review of Financial Studies, 2017, 30 (6), 2179-2228, Online Appendix
AWARDS: Winner of the 2018 Michael J. Brennan Award for Best paper in the Review of Financial Studies (Runner-up), Winner of the 2016 Crowell Prize (First Prize) - PanAgora Asset Management, Winner of the 2015 CFA Institute Asia Pacific Capital Markets Research Award
MEDIA COVERAGE: ValueWalk, Alpha, Nfoic.org, National Affairs, Smith Brain Trust
11. "A Spanning Series Approach to Options," with Steve Heston
Review of Asset Pricing Studies, 2017, 7 (1), 2-42. Lead article (Editor's choice)
12. "Modeling Covariance Risk in Merton's ICAPM," with Allan Timmermann
Review of Financial Studies, 2015, 28 (5), 1428-1461
(A previous version of the paper was circulated under the title "What is the Shape of the Risk-Return Relation?")
13. "Decentralization in Pension Fund Management," with David Blake, Allan Timmermann, Ian Tonks and Russ Wermers
Journal of Investment Management, 2015, 13 (3), 35-56
14. "Decentralized Investment Management: Evidence from the Pension Fund Industry," with David Blake, Allan Timmermann, Ian Tonks and Russ Wermers
Journal of Finance, 2013, 68, 1133-1178 Online Appendix
MEDIA COVERAGE: CFA Digest
Invited Articles and Non-Refereed Publications
1. "Taming Behavioral Biases in Consumer Decision-Making: The Role of Robo-Advisors" with Francesco D'Acunto
"Oxford Research Encyclopedia of Economics and Finance," Forthcoming
2. "Robo-Advice: Transforming Households into Rational Economic Agents," with Francesco D'Acunto
"Annual Review of Financial Economics," Forthcoming
Editors: Antoinette Schoar
3. "IT Meets Finance: Financial Decision Making in the Digital Era," with Francesco D'Acunto
"Handbook of Financial Decision Making," Edward Edgar Publishing Ltd, Forthcoming
Editors: G. Hilary and D. Mclean
4. "New Frontiers of Robo-Advising: Consumption, Saving, Debt Management, and Taxes," with Francesco D'Acunto
"Machine Learning in Financial Markets: A Guide to Contemporary Practice," Cambridge University Press, 2022
Editors: Agostino Capponi and Charles-Albert Lehalle
5. "Robo-Advising," with Francesco D'Acunto
Palgrave Macmillan Handbook of Technological Finance, 2021
Editors: R. Rau, R. Wardrop, L. Zingales
Working Papers
1. "Selecting Mutual Funds from the Stocks they Hold: a Machine Learning Approach,'' with Bin Li
(R&R at the Review of Financial Studies)
2. "Real-Time Machine Learning in the Cross-Section of Stock Returns,'' with Bin Li, Xueming (Sterling) Yan and Lingling Zheng
(R&R at the Journal of Financial Economics)
3. "What's in Investors' Information Sets?" with Hagit Levy, Ron Shalev, and Emanuel Zur
4. "Algorithm Aversion: Theory and Evidence from Robo-advice,'' with Fiona Greig, Tarun Ramadorai, Stephen Utkus, and Ansgar Walther
5. "Improving Household Debt Management with Robo-advice,'' with Ida Chak, Karen Croxson, Francesco D'Acunto, Jonathan Reuter, and Jonathan Shaw
6. "An Inside Look into Cryptocurrency Exchanges,'' with Qing Chan, Wenzhi Ding and Chen Lin
MEDIA COVERAGE: Institutional Investor
7. "The Needs and Wants in Financial Advice: Human versus Robo-Advising,'' with Stephen Utkus
8. "Political Partisanship and the Transmission of Fiscal Policy" with Francesco D'Acunto and Pulak Ghosh
9. "Predicting Stock Market Returns with Machine Learning''
10. "Rise of the 'Quants' in Financial Services: Regulation and Crowding out of Routine Jobs,'' with Christos Makridis
11. "Social Networks and Cryptocurrencies,'' with Kunpeng Zhang
12. "Do Investors Want Portfolio Churning?,'' with Stephen Utkus
13. "Understanding Time-Varying Attention and Trading''
14. "A Utility-Based Model Combination for Portfolio Choice,” with Georgios Skoulakis