Notre Dame Finance Center awards best-paper prizes

Author: Carol Elliott

Winners of the Best PapersPrize for articles on financial regulation were announced on Thursday, June 7, at the 2012 Current Topics in Financial Regulation Conference, hosted by the Mendoza College of Business, University of Notre Dame.

First place went to researchers Robert Bloomfield, Maureen O’Hara and Gideon Saar of the Johnson Graduate School of Management, Cornell University, for their paper, “Hidden Liquidity: Some New Light on Dark Trading,” announced NERA Economic Consulting, sponsor of this year’s Best Papers series. The authors will share the first-place prize of $5,000.

The second place prize of $1,000 was awarded to Or Shachar, of Stern School of Business, New York University, for her paper, “Exposing the Exposed: Intermediation Capacity in the Credit Default Swap Market.”

“We congratulate the winners and thank the other authors who also submitted exceptionally high-quality papers,” said Dr. Jim Overdahl, NERA Senior Vice President and Best Papers panel judge. “We were extremely pleased with the high caliber of the papers submitted to the conference program.”

The 2012 Current Topics in Financial Regulation Conference, held in Washington, D.C., is part of an annual research series sponsored by the Center for the Study of Financial Regulation, located at the Mendoza College. The event brings together top industry, regulatory and academic experts in financial regulation to discuss topics currently shaping the regulatory environment, including high-frequency trading, credit-default swap markets and CDO credit ratings, among others. For more information, visit the Center’s site.  

The Center for the Study of Financial Regulation was established to to encourage the rigorous study of the economics of financial regulation. This study includes the examination of the costs and benefits of specific regulations, the impact of regulation on financial practice, and the political process by which regulation is enacted. The Center’s aim is bring clear economic thinking to bear on current regulatory rules while informing and engaging financial economists, regulators, politicians, and the public. It pursues this mission through conferences, speakers and white papers, which are distributed through a quarterly newsletter.

The Center is located within the Mendoza College of Business at the University of Notre Dame, a top-ranked business school enrolling more than 2,500 students in degree programs including undergraduate business studies, MBA, Executive MBA, Master of Science in Accountancy and a Master of Nonprofit Administration. The College also offers executive development programs for for-profit and non-profit organizations.

About NERA

NERA Economic Consulting ( is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. For half a century, NERA's economists have been creating strategies, studies, reports, expert testimony, and policy recommendations for government authorities and the world's leading law firms and corporations. We bring academic rigor, objectivity, and real world industry experience to bear on issues arising from competition, regulation, public policy, strategy, finance, and litigation.

NERA's clients value our ability to apply and communicate state-of-the-art approaches clearly and convincingly, our commitment to deliver unbiased findings, and our reputation for quality and independence. Our clients rely on the integrity and skills of our unparalleled team of economists and other experts backed by the resources and reliability of one of the world's largest economic consultancies. With its main office in New York City, NERA serves clients from more than 20 offices across North America, Europe, and Asia Pacific.