Associate Professor (without tenure) of
Managerial Economics & Decision Sciences
Kellogg School of Management, Northwestern University
I am an applied theorist, focusing primarily on financial market design and market microstructure. Here are my curriculum vitae and research statement.
Equilibrium Selection in Auctions and High Stakes Games (with Paul Milgrom), Econometrica, Vol. 86, No. 1 (January 2018), pp. 219–261. [Internet Appendix] [Slides]
Pedaling Peers: The Effect of Targets on Performance (with Markus Baldauf), Journal of Economic Behavior and Organization, Vol. 167 (November 2019), pp. 90–103. [Internet Appendix] [SSRN]
High-Frequency Trading and Market Performance (with Markus Baldauf), Journal of Finance, Vol. 75, No. 3 (June 2020), pp. 1495–1526. [Internet Appendix] [SSRN] [Slides]
Trading in Fragmented Markets (with Markus Baldauf), Journal of Financial and Quantitative Analysis, Vol. 56, No. 1 (February 2021), pp. 93–121. [Internet Appendix] [SSRN] [Slides]
Best Microstructure Paper, Northern Finance Association, 2015
Extended Proper Equilibrium (with Paul Milgrom), Journal of Economic Theory, Vol. 194 (June 2021), Art. 105258. [Internet Appendix] [SSRN] [Slides]
Coverage: Kellogg Insight
Fast Traders Make a Quick Buck: The Role of Speed in Liquidity Provision (with Markus Baldauf), Journal of Financial Markets, Vol. 58 (March 2022), Art. 100621. [Internet Appendix] [SSRN]
Lead Article
Coverage: Notre Dame Center for the Study of Financial Regulation Newsletter
Principal Trading Arrangements: When Are Common Contracts Optimal? (with Markus Baldauf and Christoph Frei), Management Science, Vol. 68, No. 4 (April 2022), pp. 3112–3128. [Internet Appendix] [SSRN]
Best Paper in Asset Pricing, SFS Cavalcade North America, 2019
Siphoned Apart: A Portfolio Perspective on Order Flow Segmentation (with Markus Baldauf and Bart Zhou Yueshen), Journal of Financial Economics, Vol. 154 (April 2024), Art. 103807. [SSRN] [Slides]
Coverage: INSEAD Knowledge
Competition and Information Leakage (with Markus Baldauf), Journal of Political Economy, Vol. 132, No. 5 (May 2024), pp. 1603–1641. [Internet Appendix] [SSRN] [Presentation Video] [Slides]
Coverage: Kellogg Insight, Finance Theory Insights
Block Trade Contracting (with Markus Baldauf and Christoph Frei), Journal of Financial Economics, Vol. 160 (October 2024), Art. 103901. [Internet Appendix] [SSRN] [Slides]
Accepted for presentation at EC'23 [extended abstract]
Best Paper Award Semifinalist, FMA 2022
Coverage: Kellogg Insight
Approximate Efficiency in Matching Markets (with Nicole Immorlica, Brendan Lucier, and Glen Weyl), Proceedings of the 13th Conference on Web and Internet Economics (WINE '17), pp. 252–265.
Partially subsumed by working paper "Approximately Efficient Resource Allocation: A Theoretical and Experimental Evaluation" (below)
Approximately Efficient Resource Allocation: A Theoretical and Experimental Evaluation (with Nicole Immorlica, Robizon Khubulashvili, Sera Linardi, Brendan Lucier, and Glen Weyl), 2025.
Lottery Equilibrium (with Glen Weyl), 2018.
Matching and Price Competition with an Outside Market (with Isaac Opper), 2014.
Supergames with States (with Markus Baldauf, Kenneth L. Judd, and Şevin Yeltekin), 2014.
Competitive Strategy and Industrial Structure (MBA)
Sidney J. Levy Teaching Award winner (2021–2022)
Auction Market Design (PhD elective)
