Word: shleifer
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...decades, though, this truth was ignored by those who studied markets. Only in the past decade has it made a comeback. The landmark academic work in this vein was a 1997 paper by Harvard economist Andrei Shleifer and University of Chicago finance professor Robert Vishny (who has since left Chicago to become a full-time money manager). Their argument focused on arbitrageurs who use borrowed money to bet that small market mispricings will disappear but who can't get banks to go along with their sometimes contrarian thinking and lend them money exactly when the mispricings--and thus the opportunities...
...Nevertheless. Shleifer re-emerged this spring as a sought-after instructor among undergraduates. He teamed up with Professor of Economics David I. Laibson ’88 to teach a course on psychology and economics that had to be lotteried because of over-enrollment...
...also led an undergraduate seminar on political economy. On the syllabus: “Privatizing Russia,” by Shleifer...
...Andrei Shleifer ’82, the economist accused of making investments in Russia in the early 1990s while simultaneously advising its government on economic reform, returned to Harvard to teach a popular undergraduate course...
...Shleifer did not emerge from the scandal unscathed. His case led to a federal lawsuit that cost the University $26 million and was one of the biggest single factors in University President Lawrence H. Summers’ downfall last year. In October, Shleifer lost his endowed chair, but not his tenure. A Faculty-led investigation apparently concluded that he violated University policies—Shleifer had been advising the government under the auspices of the Harvard Institute for International Development...