Darrell Duffie
The Adams Distinguished Professor of Management / Professor of Finance at Stanford Graduate School of Business

Schools
- Stanford Graduate School of Business
Expertise
Links
Biography
Stanford Graduate School of Business
Research Statement
Darrell Duffie’s research interests include over-the-counter markets, banking, financial stability, credit risk, valuation and hedging of derivative securities, financial market infrastructure, the term structure of interest rates, financial innovation, security design, market design, and fintech payments.
Bio
Darrell Duffie is the Dean Witter Distinguished Professor of Finance at Stanford University’s Graduate School of Business. He is a Fellow and member of the Council of the Econometric Society, a Research Fellow of the National Bureau of Economic Research, a Fellow of the American Academy of Arts and Sciences, and a member of the board of directors of Moody’s Corporation since 2008. Duffie was the 2009 president of the American Finance Association. In 2014, he chaired the Market Participants Group, charged by the Financial Stability Board with recommending reforms to Libor, Euribor, and other interest rate benchmarks. Duffie’s recent books include How Big Banks Fail (Princeton University Press, 2010), Measuring Corporate Default Risk (Oxford University Press, 2011), and Dark Markets (Princeton University Press, 2012).
Academic Degrees
- PhD, Stanford University, 1984
- MEc, University of New England, 1980
- BScE, University of New Brunswick, 1975
Professional Experience
- Independent Director on the Board of Dimensional Funds, 2019–21
- Member of the Board of Directors of Moody's Corporation, 2008–18
- Chair, Market Participants Group on Reference Rate Reform, 2013–14
Awards and Honors
- R. Michael and Mary Shanahan Faculty Fellow for 2021–22
- Stephen A. Ross Prize in Financial Economics, 2014, 2021
- Amundi Pioneer Prize, The Journal of Finance, 2017
- Elected Fellow, American Academic of Arts and Sciences, 2007
- Clarendon Lecturer in Finance, Oxford University, 2004
- Financial Engineer of the Year, International Association of Financial Engineering, 2003
- Distinguished Teacher Award, Doctoral Program, Graduate School of Business, Stanford University, 2003
- NYSE Prize for equity research, Western Finance Association, 2002
Books
- Dark Markets: Asset Pricing and Information Transmission in Over-the-Counter Markets
Darrell Duffie Princeton University Press Princeton 2012 - Measuring Corporate Default Risk
Darrell Duffie Oxford University Press Princeton and Oxford 2011 - How Big Banks Fail and What to Do About It
Darrell Duffie Princeton University Press Princeton 2010 - The Squam Lake Report: Fixing the Financial System
Darrell Duffie, Kenneth R. French, Martin N. Bailey, John Y. Campbell, John H. Cochrane, Douglas W. Diamond, Anil K. Kashyap, Frederic S. Mishkin, Raghuram G. Rajan, David S. Scharfstein, Robert J. Shiller, Hyun Song Shin, Matthew J. Slaughter, Jeremy C. Stein, Rene M. Stulz Princeton University Press Princeton 2010 - Credit Risk
Darrell Duffie, Kenneth J. Singleton Princeton University Press Princeton 2003 - Dynamic Asset Pricing Theory
Darrell Duffie Princeton University Press Princeton 2001 - Futures Markets
Darrell Duffie Prentice-Hall Englewood Cliffs 1989 - Security Markets: Stochastic Models
Darrell Duffie Academic Press Boston 1988
Videos
Darrell Duffie on The Covid Crisis Was a Wake-Up Call: Redesigning the U.S. Treasury Market
Darrell Duffie -- Reserves Were Not So Ample After All
Darrell Duffie on "The Decline of Too Big Too Fail" (Virtual Finance Workshop)
Money Markets in a New Era of Central Bank Policies, Darrell Duffie
Darrell Duffie: Understanding China's Financial System
Darrel Duffie - Keynote Address at the 16th Macro Finance Society Workshop
Darrell Duffie: How to Fix the Tri-Party Repo System
The Failure Mechanics of Dealer Banks: Prof. Darrell Duffie
Replumbing the Financial System with Darrell Duffie - Economics Roundtable
Panorama of Mathematics: Darrell Duffie
You'll Be Using Digital Currency Before You Know It
Financial markets in a coronavirus world: SIEPR's Darrell Duffie explains
Dr. Darrell Duffie
Nobel Symposium Assymetric information, trading, and liquidity Darrell Duffie
Darrell Duffie: Are China's Financial Markets Opening Up?
David K. Backus Memorial Lecture 2018: Darrell Duffie
Read about executive education
Cases
Emergence of Default Swap Index Products | F268 J.Duffie, Erin Yurday2004
Risk at Freddie Mac | F270 J. Duffie, Erin Yurday2004
Structured Credit Index Products and Default Correlation | F269 J. Duffie., Erin Yurday2003
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