Professor
Michael Gallmeyer (Ph.D. University of Pennsylvania 1998): I am a
specialist
in continuous-time asset pricing where my main interest is the equilibrium
effect of market imperfections on security prices and investor
behavior. My
work focuses on several types of market frictions including
differential taxation
across investors, heterogeneous beliefs about security returns,
and incomplete
markets. My current research centers around market manipulation induced by
over the counter derivative positions as well as the valuation of
stocks with
uncertain growth opportunities when investors have diverse opinions about
the stock's prospects.
