research

1. Environmental, Social and Governance (ESG) Data Imputation and Greenwashing, Oct 2023. [link]

G. Crippa. The Journal of Impact and ESG Investing 5.4 (2025): 52-96.

• Slides for a 20-minute talk I gave at the XIII Princeton-Oxford Workshop

2. Reinforcement Learning Paycheck Optimization for Multivariate Financial Goals, Apr. 2023. [link]

M. Alaluf, G. Crippa, S. Geng, Z. Jing, N. Krishnan, S. Kulkarni, W. Navarro, R. Sircar, J. Rang.

Risk & Decision Analysis

Working Papers

3. From Constraints to Rational Preferences [job market paper]

Under Review Management Science

Standard approaches to portfolio optimization often rely on constraints to proxy investor preferences, assuming equivalence with utility-based formulations. This paper challenges that assumption by developing a general framework that characterizes conditions under which constraints can rationalize preferences. We derive necessary and sufficient conditions for equivalence, revealing that constraints can misrepresent investor behavior or overlook heterogeneity. To overcome these limitations, we propose a multi-objective optimization framework that allows trade-offs to be determined endogenously rather than fixed ex ante. We extend the classical mean-variance model to sustainable investing, and derive closed-form equilibrium strategies in complete markets. Using simulations and U.S. equity data, we construct a three-dimensional mean-variance-sustainability efficient frontier  that captures the trade-offs among the different objectives. Our framework offers a flexible foundation for portfolio design and sustainable investing, with practical relevance for asset managers and policymakers.

4. Corporate Omissions: Correcting the Bias in Carbon Reporting. Joint with R. Rigobon, F. Berg 

5. Information & Factors [draft coming soon]

6. ESG Mutual Funds: Marketing or Impact? Joint with M. Gasparini, C. Foroni [draft coming soon]

Preprints

7. Machine Learning Reveals Intrinsic Determinants of siRNA Efficacy. Joint with C. Mandelli