Robert M. Townsend
Faculty and students are invited to a special two-part lecture series with Robert M. Townsend, the Elizabeth & James Killian Professor of Economics at MIT and SIEPR visiting professor.
Economic theory provides guidance from first principles on the design and operation of financial platforms: good and bad forms of bidding and competition; contracts, platforms, and intermediaries when there is private information and other obstacles; and blends of technology and obstacles to trade that determine the number and type of financial platforms, the contracts to be traded there, and requisite information flows.
The talk will take as motivation recent developments in the U.S and developing countries: Dodd Frank regulation in the US after the financial crisis vs market fragmentation; Innovation and the emergence of e-commerce and P2P platforms in China, starting from scratch and the micro data as in Thailand, and innovation on the edges with factoring in Mexico/ India; and commonality in phenomena and problems across these applications and need for core theory.
Monday, February 13
1:30 – 3 pm
Stanford GSB, Room C106
Joint with SEED Development Workshop.
Tuesday, February 14
12 – 1:30 pm
SIEPR, Room 320
Lunch will be provided.