How to Jump-Start the Global Supply Chain
How to Jump-Start the Global Supply Chain
How to Jump-Start the Global Supply Chain
There is a large body of work that documents a strong, positive correlation between education and measures of health, but little is known about the mechanisms by which education might affect health. One possibility is that more educated individuals are more likely to adopt new medical technologies. We investigate this theory by asking whether more educated people are more likely to use newer drugs, while controlling for other individual characteristics, such as income and insurance status.
This paper describes a practical algorithm based on Monte Carlo simulation for the pricing of multi-dimensional American (i.e., continuously exercisable) and Bermudan (i.e., discretely-exercisable) options. The method generates both lower and upper bounds for the Bermudan option price and hence gives valid confidence intervals for the true value. Lower bounds can be generated using any number of primal algorithms.
No one has derived closed-form solutions for consumption with stochastic labor income and constant relative risk aversion utility. A numerical technique is used here to give an accurate approximation to the solution. The resulting consumption function is often dramatically different than the certainty equivalence solution typically used, in which consumption is proportional to the sum of financial wealth and the present value of expected future income.
Professor Glasserman's research and teaching address risk management, quant finance, Monte Carlo simulation, statistics and operations. Prior to joining Columbia, Glasserman was with Bell Laboratories; he has also held visiting positions at Princeton University, NYU, and the Federal Reserve Bank of New York. In 2011-2012, he was on leave from Columbia and working at the Office of Financial Research in the U.S. Treasury Department, where he continues to serve as a part-time consultant.
Hortense Fong uses machine learning, econometric, and experimental methods to study how emotions impact consumer behavior. A distinguishing feature of her interests involves going beyond ML’s use in prediction to study how to incorporate domain-specific theoretic and managerial knowledge into ML systems and make them more interpretable. She also has a broader interest in questions at the interface of marketing and society (e.g., fairness).
Will Ma is an Associate Professor of Decision, Risk, and Operations at Columbia Business School. During 2018-2019, he was a postdoctoral researcher at Google. He received his Ph.D. in 2018 from the MIT Operations Research Center, advised by David Simchi-Levi. His research is primarily focused on Revenue Management, building data-driven models to help e-tailers coordinate their product recommendation decisions with their supply chain constraints.
Ciamac C. Moallemi is the William Von Mueffling Professor of Business in the Decision, Risk, and Operations Division of the Graduate School of Business at Columbia University, where he has been since 2007. He also develops quantitative trading strategies at Bourbaki LLC, a quantitative investment advisor. A high school dropout, he received S.B. degrees in Electrical Engineering & Computer Science and in Mathematics from the Massachusetts Institute of Technology (1996).
Mattan Griffel is a recipient of the Dean's Award for Teaching Excellence. Mattan is a two-time Y Combinator-backed entrepreneur and the Co-Founder of Ophelia, a company that helps people quit opioids without having to go to rehab.
Professor Chan teaches the MBA core Operations Management course and the MBA electives, The US Healthcare System: Structures and Strategies; Healthcare Management, Design, and Strategy; and The Analytics Advantage. Her research is in the area of healthcare operations management. Her primary focus is in data-driven modeling of healthcare systems. Her research combines empirical and mathematical modeling to develop evidence-based approaches to improve patient flow.
Professor Broadie currently teaches the elective courses Security Pricing: Models and Computation, Computational Finance, and Programming for Business Research. He is an Academic Advisory Board Member for the Program for Financial Studies. His research interests include the pricing of derivative securities, risk management and, more generally, quantitative methods for decision-making under uncertainty.
Lisa Yao Liu joined Columbia University in 2020. Her research interests include regulation and enforcement, information disclosure, auditing, technology, and innovation. Professor Liu uses different research methods including empirical archival methods, structural estimation, and field survey and interviews. Her research has been presented at leading conferences and published in the Journal of Accounting and Economics and the Journal of Accounting Research.
Yuval Ariav is a founder and an investor who specializes in Fintech and AI with over 20 years of experience operating large, complex, cross-geo operations in both startup and corporate environments. He is the first investor in several breakout companies in the areas of financial technology, AI, and Deep Tech. Yuval is also the Founder of Fundbox, one of the fastest-growing Fintech startups to emerge in recent years, and was its founding CTO and the head of its operations office in Tel Aviv.
Jing Dong is the DeRosa Family Associate Professor in the Decision, Risk, and Operations division at the Graduate School of Business, Columbia University. Her primary research interests are in applied probability and stochastic simulation, with an emphasis on applications in service operations management. Her current research focuses on developing data-driven stochastic modeling to improve patient flow in hospitals.
Dan joined the Decision, Risk, and Operations division of the Columbia Business School in Summer 2017. He teaches a core MBA course on statistics and a PhD course on dynamic optimization. His research lies at the intersection of statistical machine learning and online decision making, mostly falling under the broad umbrella of reinforcement learning. Outside academia, he works with Spotify to apply reinforcement learning style models to audio recommendations.
Stijn Van Nieuwerburgh is the Earle W. Kazis and Benjamin Schore Professor of Real Estate and Professor of Finance at Columbia University’s Graduate School of Business, which he joined in July 2018. His research lies in the intersection of housing, asset pricing, and macroeconomics. One strand of his work studies how financial market liberalization in the mortgage market relaxed households' down payment constraints, and how that affected the macro-economy, and the prices of stocks and bonds.
Shiva Rajgopal is the Kester and Byrnes Professor of Accounting and Auditing at Columbia Business School. He has also been a faculty member at the Duke University, Emory University and the University of Washington. Professor Rajgopal’s research interests span financial reporting, earnings quality, fraud, executive compensation and corporate culture. His research is frequently cited in the popular press, including The Wall Street Journal, The New York Times, Bloomberg, Fortune, Forbes, Financial Times, Business Week, and the Economist.
Professor of Economics and Garrett Professor of Public Policy and Business Responsibility, emeritus. Director of the Columbia Institute for Tele-Information, a research center focusing on management and policy issues in telecommunications, internet, and electronic mass media. Served as Public Services Commissioner of New York State. Appointed by the White House to the President’s IT Advisory Committee. Also taught at Columbia Law School, Princeton University’s Economics Department and Woodrow Wilson School, and the Swiss universities of St. Gallen and Fribourg.
Mark A. Cohen has been in the retail business since his graduation from Columbia University in 1971. (MBA '71, BS Electrical Engineering '69) He has over 20 years experience in president/chairman, chief executive officer level positions. Most recently he was Chairman/CEO of Sears Canada Inc, Chief Marketing Officer and President of Softlines of Sears Roebuck & Co., Chairman/CEO of Bradlees Inc., and Chairman/CEO of Lazarus Department Stores. He has also held positions with Abraham & Strauss, The Gap, Lord Taylor, Mervyn's and Goldsmith's Department Stores.
Many employers expect workers to be proficient in a host of tech tools. Among them: data analysis, online collaboration and project management.
Adapted from “Global Value Chains in Developing Countries: A Relational Perspective from Coffee and Garments,” by Laura Boudreau of Columbia Business School, Julia Cajal Grossi of the Geneva Graduate Institute, and Rocco Macchiavello of the London School of Economics.
The Nobel Prize-winning economist visited CBS for the first installment of a new speaker series from The Hub, a new think tank, to discuss the future of capitalism with CBS Dean Emeritus Glenn Hubbard.
Western consumers and governments are increasingly demanding that goods produced overseas be manufactured under safe working conditions.