Eduardo Schwartz to give annual Karl Borch Lecture

Professor Eduardo Schwartz (Photo: UCLA)

The 11th lecture in memory of NHH Professor Karl Borch, scheduled for Thursday May 31, 2012, will be held by Eduardo Schwartz.

22.05.2012 - Ed.


Eduardo Schwartz, who is a Professor of Finance at the Anderson School of Management, University of California, Los Angeles, where he holds the California Chair in Real Estate & Land Economics, is one of the world's leading financial economists.

His 2012 Karl Borch Lecture will be on the topic "The Real Options Approach to Valuation: Challenges and Opportunities".

Professor Schwartz, a former president of the American Finance Association, is known for pioneering research in several areas of finance, particularly derivatives.

Among his major contributions are the real options method of pricing investments under uncertainty, the Longstaff-Schwartz model (a multi-factor short-rate model), the Longstaff-Schwartz method for valuing American options by Monte Carlo Simulation, and the use of Finite difference methods for option pricing.

His collected works include more than 80 articles in finance and economic journals, two monographs, and a large number of monograph chapters, conference proceedings, and special reports. He is the winner of a number of awards for both teaching excellence and for the quality of his published work.

Schwartz has also served as associate editor for more than 20 journals, including Journal of Finance, Journal of Financial Economics and Journal of Financial and Quantitative Analysis.

His recent research focuses on the pricing of Internet companies, asset allocation issues, evaluation of natural resource investments, the stochastic behavior of commodity prices, and valuation of patent-protected R&D projects.

Karl Borch was a professor at NHH during 1963-1986, and is considered to be one of the founders of Economics of Uncertainty, with a long list of interesting contributions published in leading scientific periodicals and books.

The idea behind the Karl Borch Lecture is to hold an annual guest lecture about a current research theme for scientific staff, students, and others who are interested.

The Karl Borch Lecture 2012 Organizing Committee consists of Professor Knut K. Aase, Professor Emeritus Steinar Ekern, Professor Svein-Arne Persson, and Professor Gunnar Stensland.

The lecture is arranged by the Department of Finance and Management Science, with support from NHH Funds and Institute for Research in Economics and Business Administration (SNF).

Karl Borch Lecture 2012
Professor Eduardo Schwartz:
"The Real Options Approach to Valuation: Challenges and Opportunities".

Date: Thursday May 31
Time: 12:15-13:45
Place: Karl Borch's Auditorium

Karl Borch Lecture Series web site: www.nhh.no/karl-borch-lecture

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Karl Borch Lecturers

2002: Professor Bengt Holmström, Massachusetts Institute of Technology.

2003: Professor Oliver Hart, Harvard University.

2004: Professor Robert Wilson, Stanford University.

2005: Professor Michael Brennan, Anderson School, University of California, Los Angeles.

2006: Professor Stephen A. Ross, Sloan School of Management, Massachusetts Institute of Technology.

2007: Professor Hayne Leland, Haas School of Business, University of California, Berkeley, USA.

2008: Professor Mark Rubinstein, Haas Schoo