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 land-grant research university in Los Angeles, California. UCLA's academic roots were established in 1881 as a teachers college then known as the southern branch of the California S ...

. 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 valuation techniques to capital budgeting decisions.Campbe ...

method of pricing investments under

uncertainty Uncertainty refers to epistemic situations involving imperfect or unknown information. It applies to predictions of future events, to physical measurements that are already made, or to the unknown. Uncertainty arises in partially observable ...

; the Longstaff–Schwartz model - a multi-factor short-rate model; the Longstaff-Schwartz method for valuing

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

s by Monte Carlo Simulation; the use of

Finite difference methods for option pricing Finite difference methods for option pricing are numerical methods used in mathematical finance for the valuation of options. Finite difference methods were first applied to option pricing by Eduardo Schwartz in 1977. In general, finite differ ...

. He has been faculty at the

University of British Columbia The University of British Columbia (UBC) is a public research university with campuses near Vancouver and in Kelowna, British Columbia. Established in 1908, it is British Columbia's oldest university. The university ranks among the top thre ...

and

UCLA The University of California, Los Angeles (UCLA) is a public land-grant research university in Los Angeles, California. UCLA's academic roots were established in 1881 as a teachers college then known as the southern branch of the California ...

, 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 degrees in management and finance, MBA and PhD). Its motto is " ...

, the

University of California, Berkeley The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California) is a public land-grant research university in Berkeley, California. Established in 1868 as the University of California, it is the state's first land-grant u ...

and the

Universidad Carlos III University Charles III of Madrid ( es, Universidad Carlos III de Madrid) (UC3M) is a public university in the Community of Madrid, Spain. Established in 1989, UC3M is an institution with a distinctly international profile. It offers a broad rang ...

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 investment t ...

issues, evaluating natural resource investments, pricing Internet companies, the stochastic behaviour of commodity 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 highest-ranking editor of a publication may also be titled editor, managing ...

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 and is considered to be one of the premier finance journals. The editor-in-chief i ...

'', ''

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 The ''Journal of Financial and Quantitative Analysis'' is a peer-reviewed bimonthly academic journal published by the Michael G. Foster School of Business at the University of Washington in cooperation with the W. P. Carey School of Business at ...

''. He is a past president of the

Western Finance Association The Western Finance Association (WFA) is an international professional society for academicians and practitioners with a scholarly interest in the development and application of research in finance. Its purpose is: *to serve as a focal point for ...

and the

American Finance Association The American Finance Association (AFA) is an academic organization whose focus is the study and promotion of knowledge of financial economics. It was formed in 1939. Its main publication, the '' Journal of Finance'', was first published in 1946. ...

. 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 c ...

. 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 ho ...

by the

University of Alicante The University of Alicante ( ca-valencia, Universitat d'Alacant, italic=no, ; es, Universidad de Alicante, italic=no, ; also known by the acronym ''UA'') was established in 1979 on the basis of the Center for University Studies (CEU), which was fo ...

in Spain and 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 schoo ...

in Denmark, and a Catedra de Excelencia by the

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 is an engineering profession that is concerned with the optimization of complex processes, systems, or organizations by developing, improving and implementing integrated systems of people, money, knowledge, information a ...

from the

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

, and an

M.Sc. A Master of Science ( la, Magisterii Scientiae; abbreviated MS, M.S., MSc, M.Sc., SM, S.M., ScM or Sc.M.) is a master's degree in the field of science awarded by universities in many countries or a person holding such a degree. In contrast to ...

(1973) and

Ph.D. A Doctor of Philosophy (PhD, Ph.D., or DPhil; Latin: or ') is the most common degree at the highest academic level awarded following a course of study. PhDs are awarded for programs across the whole breadth of academic fields. Because it is ...

(1975; supervisor: Michael Brennan) both in business administration 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