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George M. Constantinides
Leo Melamed Professor of Finance
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George Constantinides studies the causes of the historically observed premium of equity returns over bond returns; the pricing and hedging of fixed-income securities, options, futures, and other derivatives; the effects of transaction costs and taxes on the pricing and hedging of derivatives; and portfolio management. He has published numerous papers in distinguished academic periodicals. Subjects he has covered include "Mispricing of S&P 500 Index Options," written with J. C. Jackwerth and S. Perrakis in the Review of Financial Studies; "Rational Asset Prices," in the Journal of Finance; and "Junior Can't Borrow: A New Perspective on the Equity Premium Puzzle," written with J. B. Donaldson and R. Mehra in the Quarterly Journal of Economics.
A former president of the American Finance Association and of the Society for Financial Studies, Constantinides is a research associate at the National Bureau of Economic Research. He serves as a director and trustee of the Dimensional Fund Advisors' family of funds and trusts.
Constantinides received a bachelor's degree in 1970 and a master's degree in 1974 from Oxford University. He earned an MBA in 1972 and a DBA in 1975 both from Indiana University. He joined the Chicago Booth faculty in 1979, having previously taught at Carnegie Mellon University. He also visited Harvard University as a Marvin Bower Fellow in 1985-86.
Outside his research and teaching, he likes to spend time with family and friends, scuba dive, read, listen to music, and discover new people, ideas, places, restaurants, and wine.
Selected Publications
With J. Jackwerth and S. Perrakis, "Mispricing of S&P 500 Index Options," Review of Financial Studies (forthcoming).
With J. Donaldson and R. Mehra, "Junior Must Pay: Pricing the Implicit Put in Privatizing Social Security," Annals of Finance (2005).
"Rational Asset Prices," Journal of Finance (2002).
With A. Brav and C. Geczy, "Asset Pricing with Heterogeneous Consumers and Limited Participation: Empirical Evidence," Journal of Political Economy (2002).
With J. Donaldson and R. Mehra, "Junior Can't Borrow: A New Perspective on the Equity Premium Puzzle," Quarterly Journal of Economics (2002).
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Courses
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| 35100 |
Financial Instruments |
2010(Winter) |
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Other Interests
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| International affairs, reading, yoga, scuba, music, travel, restaurants, wine, cooking. |
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