Karl Borch Lecture 2012

Karl Borch Lecture 2012

The Karl Borch Lecture is an annual lecture held by world-class scholars on a current research topic.

The Karl Borch Lecture Series was established in 2002 by the Department, in honor of Borch.
The lecture is on a current research topic and given by distinguished scholars, whose research capture the pioneering spirit of Karl Borch, but not necessarily his fields of research in a narrow sense.

The Karl Borch Lecture is sponsored by the Institute for Research in Economics and Business Administration (SNF).

Karl Borch Lecture 2012

The 11th Karl Borch Lecture was given by Professor Eduardo Schwartz, University of California, Los Angeles, on the topic

The Real Options Approach to Valuation: Challenges and Opportunities

The lecture was held at NHH on Thursday May 31 2012 (12.15-13.45 in Karl Borch's Aud.).

Please see the press release for further details. Slides are also available.

Professor Schwartz also gave an additional lecture, in the Department's Seminar Series, on Wednesday May 30 2012, entitled Cash Flow Multipliers and Optimal Investment Decisions (slides are also available).


Karl Borch Lectures 2002-2016
Thursday 06.10.2016, 12.15-13.45, Karl Borch's Aud.

Andrew W. Lo, Massachusetts Institute of Technology

Can Financial Engineering Cure Cancer?

Thursday 03.09.2015, 12.15-13.45, Agnar Sandmo's Aud.

Lasse Heje Pedersen, Copenhagen Business School

Efficiently Inefficient

Friday 24.05.2013, 12.15-13.45, Karl Borch's Aud.

David M. Kreps, Stanford University

Motivation versus Incentives

Thursday 31.05.2012, 12.15-13.45, Karl Borch's Aud.

Eduardo Schwartz, University of California, Los Angeles

The Real Options Approach to Valuation: Challenges and Opportunities

Tuesday 23.08.2011, 13.10-14.20, Dag Coward's Aud.

John Y. Campbell, Harvard University

Investing and Spending: The Twin Challenges of Endowment Management

Friday 07.05.2010, 12.15-13.45, Karl Borch's Aud.

Christian Gollier, Toulouse 1 Capitole University

The economics of long term discounting

Monday 08.06.2009, 12.15-13.45, Karl Borch's Aud.

Jacques Drèze, Université catholique de Louvain

When Borch's Theorem does not apply: Some key implications of market incompleteness, with policy relevance today

Friday 05.09.2008, 12.15-13.45, Karl Borch's Aud.

Mark Rubinstein, University of California, Berkeley

Great Moments in Financial Economics: The Hidden History

Friday 08.06.2007, 12.15-13.45, Aud. E

Hayne Leland, University of California, Berkeley

The Optimal Financial Scope of the Firm

Friday 12.05.2006, 12.15-13.45, Aud. C

Stephen A. Ross, Massachusetts Institute of Technology

A Neoclassical Look at Behavioral Finance: A Tale of Two Anomalies

Friday 23.09.2005, 12.15-13.45, Karl Borch's Aud.

Michael Brennan, University of California, Los Angeles

Changing attitudes towards risk

Friday 29.10.2004, 12.15-13.45, Finn E. Kydland's Aud.

Robert Wilson, Stanford University

Risk Management in Liberalized Electricity Markets

Thursday 15.05.2003, 12.15-13.45, Aud. E

Oliver Hart, Harvard University

Firms versus Contracts

Friday 03.05.2002, 13.15-14.45, Aud. E

Bengt Holmström, Massachusetts Institute of Technology

Liquidity and Insurance

Karl H. Borch

Karl H. Borch was a professor at NHH between 1963 and 1986, and is considered one of the founders of economics of uncertainty, counting 150 scientific articles in journals and conference proceedings, and three books.

Eduardo Schwartz

Eduardo Schwartz is the California Chair in Real Estate and Land Economics at the Anderson School of Management, University of California, Los Angeles.

Professor Schwartz 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 100 than articles in finance and economic journals, two monographs, and a large number of monograph chapters, conference proceedings and special reports.

He has served as associate editor for more than a dozen journals, including Journal of Finance, Journal of Financial Economics and Journal of Financial and Quantitative Analysis.

He is a former president of the Western Finance Association and the American Finance Association. He is a fellow of the American Finance Association and the Financial Management Association International. He is also a research associate of the National Bureau of Economic Research.

He is the winner of a number of awards for both teaching excellence and for the quality of his published work, like the 2000 Graham and Dodd Award.

In 2015, Schwartz was named International Association for Quantitative Finance (IAQF)/SunGard Financial Engineer of the Year in recognition of his individual contributions to the advancement of quantitative finance.