University Professor John Hull receives Harry M. Markowitz Award
Published: January 30, 2020
John Hull, a professor at 缅北强奸鈥檚 Rotman School of Management, has won the Harry M. Markowitz Award for best paper, published in the Journal of Investment Management.
Hull 鈥 and the Maple Financial Group Chair in Derivatives and Risk Management 鈥 won the award for 鈥淔unding Long Shots.鈥 The paper documents the difficulty of funding large projects that have a low probability of success but attempt to deal with society鈥檚 biggest challenges, such as cancer, Alzheimer鈥檚 disease, global warming and fossil-fuel depletion. It proposes a securitization structure to attract investors and analyzes the circumstances under which the structure is viable. Hull co-wrote the paper with Professor Andrew Lo of MIT and Professor Roger Stein of NYU.
The annual award honours the work of Nobel Prize winner Harry Markowitz as a financial economist and mathematician on theoretical finance and the practice of asset management. Hull also won the award, along with Rotman professor Alan White, in 2013.
