Pietro Veronesi

Biography

Pietro Veronesi is the Chicago Board of Trade Professor of Finance at the University of Chicago, Booth School of Business. He is also a research associate of the National Bureau of Economic Research and a research fellow of the Center for Economic and Policy Research. Additionally, he is a former director of the American Finance Association and co-editor of the Review of Financial Studies.

Veronesi conducts research that focuses on asset pricing, stock and bond valuation under uncertainty, bubbles and crashes, return predictability and stochastic volatility. Most recently, he has been interested in studying, both theoretically and empirically, the interaction between government interventions and the behavior of asset prices. His work has appeared in numerous publications, including the Journal of Political Economy, American Economic Review, Quarterly Journal of Economics, Journal of Finance, Journal of Financial Economics, and Review of Financial Studies. He is the recipient of several awards, including the 2015 AQR Insight award, the 2012 and 2003 Smith Breeden prizes from the Journal of Finance; the 2008 WFA award; the 2006 Barclays Global Investors Prize from the EFA; the 2006 Fama/DFA prizes from the Journal of Financial Economics; and the 1999 Barclays Global Investors/Michael Brennan First Prize from the Review of Financial Studies.

In summer 2020, Professor Veronesi co-founded PREDOC (Pathways to Research and Doctoral Careers, https://predoc.org), a consortium of universities and research institutions that aims to foster a talented and diverse pipeline of students in doctoral programs. PREDOC members work together to expand the talent pool, and to inform, engage, mentor, and educate undergraduates from any background to help them be competitive in the market of pre-doctoral research assistants ("pre-docs"), and in doctoral programs. 

Professor Veronesi teaches both masters- and PhD-level courses. He is the recipient of the 2009 McKinsey Award for Excellence in Teaching.

His undergraduate work was in economics at Bocconi University where he received a laurea magna cum laude with honor in 1992. He earned a master's degree with distinction in 1993 from the London School of Economics. He joined the Chicago Booth faculty upon obtaining his PhD in Economics from Harvard University in 1997.

Research Interests

Asset pricing: stock valuation under Bayesian uncertainty and learning; equilibrium models of stock return predictability and volatility; political uncertainty and asset prices. Corporate finance: Initial Public Offerings; CEO compensation and incentive contracts.

Academic Areas

• Finance