Valery Polkovnichenko

Professional Preparation

• PhD - Finance Northwestern University - 2000
• Diploma - Applied Mathematics and Physics Moscow Institute of Physics and Technology - 1995

Appointments

• Asscoiate Professor University of Texas at Dallas [2013–Present]
• Economist Federal Reserve Board of Governors [2011–2013]
• Assistant Professor University of Texas at Dalla [2006–2013]
• visitor Federal Reserve Bank of Minneapolis [2002–2006]
• Assistant Professor University of Minnesota [2000–2006]
• Teaching Specialist University of Minnesota [1999–2000]
• Lecturer Northwestern University, [1998–1999]

Research Areas

Portfolio choice, asset pricing, heterogeneous agents, macro-finance, non-expected utility preferences

Publications

Fiscal Policy and Asset Prices with Incomplete Markets, 2013, with Francisco Gomes and Alexander Michaelides, The Review of Financial Studies, 26(2), pp. 531-66 2013

“Probability Weighting Functions Implied in Option Prices” 2012, with Feng Zhao, forthcoming, Journal of Financial Economics 2012 - Publication “Individual Investor Portfolios”, 2010, in “Behavioral Finance” (Robert Kolb series in Finance) by Kent Baker and John Nofsinger, eds., John Wiley & Sons, Hoboken, New Jersey. 2011

“Risk attitude toward small and large bets in the presence of background risk”, 2011, with David Chapman, The Review of Finance, 15(4), pp. 909-27. Abstract and working paper (last unpublished version). 2011

"Wealth accumulation and portfolio choice with taxable and tax-deferred accounts," December 2009, with Francisco Gomes and Alexander Michaelides, Review of Economic Dynamics, 12(4), pp. 718-35 Abstract and working paper (last SSRN version). 2009

"First Order Risk Aversion, Heterogeneity in Preferences and Asset Markets Outcomes," August 2009, with David Chapman, The Journal of Finance, 64(4), pp. 1863-88 Abstract and working paper (last SSRN version) 2009

Life-Cycle Portfolio Choice with Additive Habit Formation Preferences and Uninsurable Income Risk. Review of Financial Studies. 2007. 2007

Household Portfolio Diversification: A Case for Rank-Dependent Preferences. Review of Financial Studies. 18.4. (2005): 1467-1502. 2005

Limited Stock Market Participation and the Equity Premium. Finance Research Letters. 1. (2004): 24-34. 2004

Human Capital and the Private Equity Premium. Review of Economic Dynamics. 6.4. (2003): 831-845. 2003