Akash Bandyopadhyay

Akash Bandyopadhyay studies asset pricing theory, models, and tests; financial derivatives in incomplete markets and in markets with differential information; option pricing for assets with over/underreaction and time varying risks; and financial economics beyond standard models. He was originally a physicist. He earned a bachelor's and master's degrees in physics from University of Calcutta in 1989 and 1992, respectively; a master's degree in theoretical physics from University of Notre Dame in 1996; and a PhD in theoretical physics from the University of Illinois at Urbana-Champaign in 2001. While finishing his PhD, Bandyopadhyay made the leap to Wall Street by researching equity derivatives pricing models for Banc of America Securities. Bandyopadhyay worked in equity derivatives risk management at Deutsche Bank, derivative analytics for corporate and institutional clients at Merrill Lynch & Co., and market risk management at Soci?t? G?n?rale Group (SG Cowen Securities Corp.) before returning to academia.

"In my experience, I found that one needs a dying hunger for money and a dream for power to succeed well on Wall Street," Bandyopadhyay said. "For people who want to make money, there can be no better place. Working there for a few years made me realize that I am not that crazy. I see myself as an academician. Financial economics is an evolving field and there are tremendous opportunities to make original contribution. I love teaching and doing research, and consider it a privilege to be a part of this great institution."

GSB students have rated him the school's "most enthusiastic finance professor."

Selected Publications

Chicago Lectures on Investments (World Scientific, forthcoming 2009).

---

"Stress Test, Regression Analysis, and Convergence of Convertible Bond Valuation Models," Derivatives Analytics Report of Merrill Lynch (April 2001).

---

"VaR from Stress Test Projection Reports," Equity Derivatives Risk Management Report of Deutsche Bank (August 2000).

---

"Feynman Path Integrals for Derivative Pricing," Quantitative Equity Derivatives Research Report of Banc of America Securities (August 1999).

---

"Construction of Improved Stress-Energy Tensor in d >2," International Journal of Theoretical Physics (May 1999).

---