Eduardo Saul Schwartz (born 1940) is a professor of finance at SFU's Beedie School of Business, where he holds the Ryan Beedie Chair in Finance. He is also a Distinguished Research Professor at the

University of California, Los Angeles The University of California, Los Angeles (UCLA) is a public university, public Land-grant university, land-grant research university in Los Angeles, California, United States. Its academic roots were established in 1881 as a normal school the ...

. He is known for pioneering research in several areas of finance, particularly derivatives. His major contributions include: the

real options Real options valuation, also often termed real options analysis,Adam Borison (Stanford University)''Real Options Analysis: Where are the Emperor's Clothes?'' (ROV or ROA) applies option (finance), option Valuation of options, valuation technique ...

method of pricing investments under

uncertainty Uncertainty or incertitude refers to situations involving imperfect or unknown information. It applies to predictions of future events, to physical measurements that are already made, or to the unknown, and is particularly relevant for decision ...

; the Longstaff–Schwartz model - a multi-factor

short-rate model A short-rate model, in the context of interest rate derivatives, is a mathematical model that describes the future evolution of interest rates by describing the future evolution of the short rate, usually written r_t \,. The short rate Under a sh ...

; the Longstaff-Schwartz method for valuing

American option In finance, the style or family of an option is the class into which the option falls, usually defined by the dates on which the option may be exercised. The vast majority of options are either European or American (style) options. These options ...

s by Monte Carlo Simulation; the use of

Finite difference methods for option pricing Finite difference methods for option pricing are Numerical analysis, numerical methods used in mathematical finance for the valuation of Option (finance), options. Finite difference methods were first applied to Valuation of options, option pricing ...

. He has been faculty at the

University of British Columbia The University of British Columbia (UBC) is a Public university, public research university with campuses near University of British Columbia Vancouver, Vancouver and University of British Columbia Okanagan, Kelowna, in British Columbia, Canada ...

and

UCLA The University of California, Los Angeles (UCLA) is a public land-grant research university in Los Angeles, California, United States. Its academic roots were established in 1881 as a normal school then known as the southern branch of the C ...

, and visiting at the

London Business School London Business School (LBS) is a business school and a constituent college of the federal University of London. LBS was founded in 1964 and awards post-graduate degrees (Master's degree, Master's degrees in management and finance, Master of B ...

, the

University of California, Berkeley The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California), is a Public university, public Land-grant university, land-grant research university in Berkeley, California, United States. Founded in 1868 and named after t ...

and the Universidad Carlos III in Madrid. His wide-ranging research has focused on different dimensions in asset and securities pricing. Topics in recent years include interest rate models,

asset allocation Asset allocation is the implementation of an investment strategy that attempts to balance risk versus reward by adjusting the percentage of each asset in an investment portfolio according to the investor's risk tolerance, goals and investm ...

issues, evaluating natural resource investments, pricing Internet companies, the

stochastic Stochastic (; ) is the property of being well-described by a random probability distribution. ''Stochasticity'' and ''randomness'' are technically distinct concepts: the former refers to a modeling approach, while the latter describes phenomena; i ...

behaviour of

commodity In economics, a commodity is an economic goods, good, usually a resource, that specifically has full or substantial fungibility: that is, the Market (economics), market treats instances of the good as equivalent or nearly so with no regard to w ...

prices, valuing patent-protected R&D projects and optimal carbon abatement strategies. He has published more than 100 articles in finance and economics journalsEduardo S. Schwartz Vitae
nber.org and with Lenos Trigeorgis is an author of ''Real Options and Investment Under Uncertainty''. He is the winner of a number of awards for both teaching excellence and for the quality of his published work. He has served as

associate editor An editor-in-chief (EIC), also known as lead editor or chief editor, is a publication's editorial leader who has final responsibility for its operations and policies. The editor-in-chief heads all departments of the organization and is held accoun ...

for over 20 journals, including ''

Journal of Finance ''The Journal of Finance'' is a peer-reviewed academic journal published by Wiley-Blackwell on behalf of the American Finance Association. It was established in 1946. The editor-in-chief is Antoinette Schoar. According to the ''Journal Citation R ...

'', ''

Journal of Financial Economics The ''Journal of Financial Economics'' is a peer-reviewed academic journal published by Elsevier, covering the field of finance. It is considered to be one of the premier finance journals. According to the ''Journal Citation Reports'', the journa ...

'' and '' Journal of Financial and Quantitative Analysis''. He is a past president of the Western Finance Association and the American Finance Association. He is a fellow of the American Finance Association and the Financial Management Association International. He is a research associate of the

National Bureau of Economic Research The National Bureau of Economic Research (NBER) is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic co ...

. He was awarded a

Doctor Honoris Causa An honorary degree is an academic degree for which a university (or other degree-awarding institution) has waived all of the usual requirements. It is also known by the Latin phrases ''honoris causa'' ("for the sake of the honour") or ''ad hono ...

by the University of Alicante in Spain, by the

Copenhagen Business School Copenhagen Business School (Danish'': Handelshøjskolen i København'') often abbreviated and referred to as CBS (also in Danish), is a public university situated in Copenhagen, Denmark and is considered one of the most prestigious business scho ...

in Denmark, and by the Comillas Pontifical University in Spain, as well as a Catedra de Excelencia by the Universidad Carlos III in Madrid. He has also been a consultant to governmental agencies, banks, investment banks and industrial corporations. Professor Schwartz received a B.Eng. (1963) in

Industrial Engineering Industrial engineering (IE) is concerned with the design, improvement and installation of integrated systems of people, materials, information, equipment and energy. It draws upon specialized knowledge and skill in the mathematical, physical, an ...

from the

University of Chile The University of Chile () is a public university, public research university in Santiago, Chile. It was founded on November 19, 1842, and inaugurated on September 17, 1843.

, and an M.Sc. (1973) and Ph.D. (1975; supervisor: Michael Brennan) both in

business administration Business administration is the administration of a commercial enterprise. It includes all aspects of overseeing and supervising the business operations of an organization. Overview The administration of a business includes the performance o ...

from the

References

External links

SFU's Beedie School of Business

SFU Beedie faculty profile

Home page at UCLA

SSRN Author Page

"Real Options and Investment under Uncertainty"
* {{DEFAULTSORT:Schwartz, Eduardo Living people Financial economists 20th-century Chilean economists UCLA Anderson School of Management faculty UBC Sauder School of Business alumni University of Chile alumni Real options Monte Carlo methodologists 1940 births National Bureau of Economic Research Chilean expatriates in Canada Chilean expatriates in the United States Presidents of the American Finance Association 21st-century Chilean economists