Philip H. Dybvig
Boatmen's Bancshares Professor of Banking and Finance
Area of Expertise:
Business And Government, Banking and Financial Institutions, Corporate Finance, Corporate Governance, Business Education, Banking and Financial Institutions, Business And Government, Business Education, Corporate Finance, Corporate Governance
Research Interests:
Banking, corporate finance, financial markets, asset pricing, fixed-income securities, industrial organization, porfolio management
Selected Publications:
- "Consensus on Diverse Corporate Boards", Review of Financial Studies, 715-747, with N. Baranchuk, 2009
- "The Fallacy of Large Numbers, and a Defense of Diversified Active Managers", Journal of Applied Finance, 2005
- "Employee Reload Options: Pricing, Hedging, and Optimal Exercise", Review of Financial Studies, Issue 145-171, with M. Loewenstein, 2003
- "Pricing Long Bonds: Pitfalls & Opportunities", Financial Analysts Journal, 32-39, 1996
- "Duesenberry's Ratcheting of Consumption: Optimal Dynamic Consumption and Investment Given Intolerance for any Decline in Standard of Living", Review of Economic Studies, 287-313, 1995
- "Inefficient Dynamic Portfolio Strategies, or How to Throw Away a Million Dollars in the Stock Market", Review of Financial Studies, 67-88, 1988
- "Bank Runs, Deposit Insurance, and Liquidity", Journal of Political Economy, 401-419, 1983
Academic/Professional Activities:
- Editor, Associate Editor, Finance and Stochastics
- Editor, Associate Editor, Journal of Economic Theory
- Editor, Associate Editor, Review of Financial Studies
Awards/Honors:
- Common Fund Prize, Commonfund Institute, 1996
- Graham & Dodd Scroll for Excellence in financial writing, AIMR, 1996
- Sloan Research Fellowship, 1986
Personal Interests:
Professor Dybvig's leisure time is spent playing and composing music, cooking, playing taijiquan, and lifting weights.
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Philip H. Dybvig is well known for his paper, Diamond-Dybvig [1983], one of the most widely cited papers in Finance and Economics. The Diamond-Dybvig model shows how banks serve the economy by creating liquidity, and how this liquidity creation subjects the banks to runs if there is not any deposit insurance or other protection. Dybvig previously taught at Princeton University and was tenured at Yale University. He has published two textbooks and more than 35 articles in leading journals. He has consulted for government, organizations, and individuals.
Philip H. Dybvig's Home Page
Philip H. Dybvig's Curriculum Vitae
Email: DYBVIG@WUSTL.EDU
Phone: (314) 935-9444
PhD 1979, Yale University
MA 1978, Yale University
BA 1976, Indiana University
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