Terje Lensberg

Emeritus Professor Terje Lensberg

+47 55 95 92 06
Market Microstructure Decision Theory Game Theory


Terje Lensberg joined NHH as a faculty member in 1987, following completion of his Dr. oecon at the same school in 1986. Lensberg has spent periods as a visiting professor at Stanford University (1993-1994) and visiting scholar at Massachusetts Institute of Technology (1980-1981).  He headed the Department of Finance and Management Science during 2005-2009. 

Lensberg has co-authored two books and published widely in international journals.  His main research interests are evolutionary finance, market microstructure and game theory. Lensberg has extensive experience with numerical models and methods, including genetic programming algorithms, with applications to policy analysis and quantitative trading strategies. 

Curriculum Vitae

Selected publications

Author(s) Title Publisher
Lensberg, Terje; Schenk-Hoppe, Klaus Reiner Cold play: Learning across bimatrix games Journal of Economic Behavior and Organization Volume 185; page 419 - 441; 2021
Hens, Thorsten; Lensberg, Terje; Schenk-Hoppe, Klaus Reiner Front-Running and Market Quality: An Evolutionary Perspective on High Frequency Trading International Review of Finance Volume 18 (4); page 727 - 741; 2018
Lensberg, Terje; Palczewski, Jan; Ladley, Daniel; Schenk-Hoppe, Klaus Reiner Fragmentation and Stability of Markets Journal of Economic Behavior and Organization Volume 119; page 466 - 481; 2015
Lensberg, Terje; Schenk-Hoppe, Klaus Reiner; Ladley, Dan Costs and benefits of financial regulation: Short-selling bans and transaction taxes Journal of Banking & Finance Volume 51; page 103 - 118; 2015
Lensberg, Terje; Schenk-Hoppe, Klaus Reiner Hedging without sweat: a genetic programming approach Quantitative Finance Letters Volume 1 (1); page 41 - 46; 2013
More publications in Cristin

Terje Lensberg has taught Trading and Market Microstructure at NHH.