Princeton Lectures in Finance
Each year, the Bendheim Center invites a leading figure in the field of finance to deliver a set of lectures at Princeton on a topic of major significance to researchers and professionals. The published lectures will appear as a Princeton University Press book. The lectures are open to the public and held on campus.
Nobel Prize winner Robert Shiller of Yale University gave the 2013 Princeton Lectures in Finance on October 8-10, 2013. The lectures took place in Friend Center 004 from 4:30 to 6 p.m. The topic of the lecture was "Neoclassical Finance and Reality".
- Lecture 1: Tuesday, October 8, "The Relative Strengths of Neoclassical and Behavioral Finance for Understanding Bubbles and Systemic Crises"
- Lecture 2: Wednesday, October 9, "Why Don't Sound Financial Innovations Get Adopted"
- Lecture 3: Thursday, October 10, "Phishing for phools: The Economics of Manipulation and Deception", (work in progress with George Akerlof)
Robert F. Engle of New York University will give the 2012 Princeton Lectures in Finance on October 24-26, 2012, 4:30-5:50pm, at the Friend Center, Room 006. The topic of the lectures is "Volatility and Systemic Risk".
- Lecture 1: Wednesday October 24, "The economics of global financial volatility"
- Lecture 2: Thursday October 25, "Long run risk: Modelling commodity prices"
- Lecture 3: Friday October 26, "Systemic risk: Measurement and regulation"
The 2011 Princeton Lectures in Finance were given by Robert C. Merton of MIT on September 27-29, 2011, on the topic of "Observations on the Future of Financial Innovation and Engineering: Addressing Financial Challenges of the Economy"
- Lecture 1: A Next-Generation Solution for Funding Retirement: A Case Study in Design and Implementation of Financial Innovation [slides]
- Lecture 2: Financial Innovation in Residential Housing Finance: Funding, Risk Transfer, and Efficient Asset Use. [slides]
- Lecture 3: Financial Innovation in Government's role in the Financial System: Identifying Systemic Risks, Oversight, Stabilization, Market Completion, and Social Security. [slides]
The 2010 Princeton Lectures in Finance were given by Lars Peter Hansen of the University of Chicago on November 30, December 1 and December 2 on the topic of "Exploring links between asset pricing and macroeconomic modeling."
- Lecture 1: Recursive valuation and sentiments [pdf]
- Lecture 2: Examining macroeconomic models with finance constraints through the lens of asset pricing [pdf]
- Lecture 3: Learning dynamics and the fragile price of uncertainty [pdf]
The 2008 Princeton Lectures in Finance were given by John Campbell of Harvard University, on November 3-5, on the topic of “Risk and Return in Stocks and Bonds.”
- Lecture 1: Estimating the Equity Premium [pdf] [pdf] [slides]
- Lecture 2: Consumption Risk in Long-term Asset Markets [pdf] [pdf] [pdf] [slides]
- Lecture 3: Stocks, Bonds, and the Flight to Quality [pdf] [pdf] [slides]
The 2007 Princeton Lectures in Finance were given by Darrell Duffie of Stanford University on the topic of “Capital Immobility and its Implications for Asset Pricing.” They have been published by Princeton University Press under the title "Dark Markets."
The 2006 Princeton Lectures in Finance were given by Hayne Leland of the University of California at Berkeley, on the topic of "Structural Models in Corporate Finance", on September 20-22, 2006, in BCF 103:
- September 20. Lecture 1: Structural models of corporate financial choice
- September 21. Lecture 2: Optimal financial decisions using structural models
- September 22. Lecture 3: Optimal financial scope and structured finance
The 2005 Princeton Lectures in Finance were given by Douglas Diamond of the University of Chicago, on the topic of "Financial Intermediation and Financial Systems", on June 1-3, 2005.
The 2004 Princeton Lectures in Finance were given by William Sharpe, Professor Emeritus at Stanford University, the 1990 Nobel Laureate in Economics, on the topic of "Investors and Markets: Portfolio Choices, Asset Prices, and Investment Advice", on May 10, 11 and 12, 2004. The published lectures are now available from Princeton University Press.
The 2002 Princeton Lectures in Finance were given by Myron Scholes of Stanford University, the 1997 Nobel Laureate in Economics, on May 20, 21 and 22, 2002. The theme of the lectures was "Liquidity."
The 2001 Princeton Lectures in Finance were given by Stephen Ross of MIT, on May 21, 22 and 23, 2001. The theme of the lectures was "Neoclassical Finance." The published lectures are now available from Princeton University Press.