Sanford J. Grossman

Sanford Jay Grossman, also called Sandy Grossman ( born July 21, 1953 in Brooklyn, New York City ) is an American economist and financial advisor.

Life and work

Grossman was born the son of Sloane and Florence Grossman and studied economics at the University of Chicago, where he in 1973 his Bachelor of Arts in 1974 and his Master of Arts acquired. In 1975, he was there for the Ph.D. doctorate. From 1975 to 1977 he was a lecturer at Stanford University, before he moved to the University of Pennsylvania, where until 1981 he was professor from 1978 to 1979 as a lecturer and from 1979. From 1981 to 1985 he was a professor at the University of Chicago, 1985 to 1989. Princeton University and from 1989 to 1999 at the Wharton School, University of Pennsylvania Then he ended his academic career and took care of his founded in 1988 Quantitative Financial Strategies, where he served as Chief Executive Officer directs.

Grossman worked in the field of financial economics, especially to the capital market, to property rights, risk management, liquidity, transaction costs and hedging transactions. In addition, he has contributed to the theory of rational expectations and corporate takeovers.

He is married to Binder Naava Grossman and has two children. His hobbies include skiing, wine and good food.

Awards

Memberships

Works

  • On the Efficiency of Competitive Stock Markets where Traders Have Diverse Information. In: Journal of Finance. Volume 31, No. 2, 1976, p 573-584.
  • Joseph E. Stiglitz: Information and Competitive Price Systems. In: American Economic Review. Volume 66, No. 2, May 1976 pp. 246-253.
  • The Existence of Futures Markets, Noisy Rational Expectations and Informational Externalities. In: Review of Economic Studies. Volume 44, No. 3, October 1977, pp. 431-449.
  • With Oliver Hart: Take- Over Bids, the Managerial Theory of the Firm and the Free Rider Problem. In: David A. Currie and W. Peters ( eds. ): Contemporary Economic Analysis. Volume 2, Croom Helm, London 1980, ISBN 0-85664-803-5
  • With Oliver Hart: Disclosure Laws and Take -Over Bids. In: Journal of Finance. Volume 35, No. 2, May 1980 p 323-334
  • With Oliver Hart: Takeover Bids, the Free -Rider Problem, and the Theory of the Corporation. In: Bell Journal of Economics. Volume 11, No. 1, 1980, p 42-64.
  • Joseph E. Stiglitz: On the Impossibility of Efficient Markets Informationally. In: American Economic Review. Belt 70, No. 3, June 1980, p 393-408.
  • With Oliver Hart: Implicit Contracts, Moral Hazard, and Unemployment. In: American Economic Review. Volume 71, No. 2, May 1981 pp. 301-307.
  • Robert J. Shiller: The Determinants of the Variability of Stock Market Prices. In: American Economic Review. Volume 71, No. 2, May 1981 pp. 222-227.
  • With Oliver Hart: The Role of Takeover Bids Allocational in Situations of Asymmetric Information. In: Journal of Finance. Volume 36, 1981, p 253-270
  • With Oliver Hart: Corporate Financial Structure and Managerial Incentives. In: John McCall (ed.): The Economics of Information and Uncertainty. UCP, 1982
  • Robert J. Shiller: correlatedness Consumption and Risk measurement in economies with non -traded assets and heterogeneous information. In: Journal of Financial Economics. Volume 10, July 1982, pp. 195-210.
  • With Oliver Hart: An Analysis of the Principal - Agent problem. In: Econometrica. Volume 51, No. 1, January 1983, pp. 7-45.
  • With Oliver Hart: Implicit Contracts under Asymmetric Information. In: The Quarterly Journal of Economics. Volume 98, No. 3, 1983, pp. 123-156.
  • With Laurence Weiss: A Transactions -Based Model of the Monetary Transmission Mechanism. In: American Economic Review. Belt 73, No. 5, December 1983, pp. 871-880.
  • Oliver Hart and Eric S. Maskin: Unemployment with Observable Aggregate Shocks. In: Journal of Political Economy. Volume 91, No. 6, December 1983, pp. 907-928.
  • With Oliver Hart: The Costs and Benefits of Ownership. A Theory of Vertical and Lateral Integration. In: Journal of Political Economy. Volume 94, No. 4, August 1986, pp. 691-719.
  • An Analysis of the Implications for Stock and Futures Price Volatility of Program Trading and Dynamic Hedging Strategies. In: Journal of Business. Volume 61, No. 3, May 1988, pp. 275-298.
  • Dynamic Asset Allocation and the Informational Efficiency of Markets. In: Journal of Finance. Volume 50, No. 3, 1995, pp. 773-787
Docent Wharton School of the University of Pennsylvania John Bates Clark Medal American Economic Association Phi Beta Kappa Society Econometric Society American Academy of Arts and Sciences American Finance Association David M. Kreps Integrated Authority File
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