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 o