You are here

Pierre Collin-Dufresne
SFI Senior Chair
Professor of Finance

Pierre Collin-Dufresne is Full Professor of Finance at the Ecole Polytechnique Fédérale de Lausanne and has held an SFI Senior Chair since 2011. Prior to his appointment in Switzerland, he held a chair in Business at the Graduate School of Business at Columbia University. Prof. Collin-Dufresne has worked at Goldman Sachs Asset Management, where he was in charge of fixed income and credit trading strategies. He currently sits on the academic advisory boards of Lombard Odier and Kepos Capital (a US asset management firm). He also provides expert advice for Cornerstone Research, and serves on the editorial board of various academic journals. Prof. Collin-Dufresne was awarded the Amundi Smith Breeden Distinguished Paper Prize in 2015 for his paper Do Prices Reveal the Presence of Informed Trading?.

Research Interests:
His primary research interest lies in credit and fixed income markets.
Recent Research:
One of the recent topics Prof. Collin-Dufresne and his co-authors have been investigating is how generational experiential biases impact the dynamics of macro aggregates, asset pricing, and risk premiums. Such biases arise as the younger generation are endowed with ex ante beliefs that are more dispersed than the older generation's posterior beliefs this can be interpreted as one’s inability to efficiently process information regarding events that occurred before one’s own lifetime. In terms of size, this generational perception glitch generates market over- and undervaluation of the order of ± 20 percent relative to rational expectations.