Big Data, Artificial Intelligence, and Financial Economics
Organized by Itay Goldstein, Andrey Malenko, Chester S. Spatt, Tarun Ramadorai, and Mao Ye
Supported by Wharton Research Data Services
November 13, 2026
Hyatt Regency, 575 Memorial Drive, Cambridge, MA
Room: Charles View Ballroom

Thursday, November 12

6:30 pm

Dinner, Mt Auburn Ballroom

Friday, November 13

8:00 am

Continental Breakfast, Charles View Ballroom

AI and Algorithmic Trading Architecture and Price Informativeness

8:30 am

Algorithmic Trading Architecture and Price Informativeness

Snehal Banerjee, University of Michigan
Martin A. Szydlowski, Hong Kong University of Science and Technology (HKUST)

Discussant:
Liyan Yang, University of Toronto

9:15 am

Algorithmic Pricing under Strategic Adoption

Agostino Capponi, Columbia University
Hao Yang, EM Lyon Business School
Zhengge Zhou, University of Western Australia

Discussant:
S. Vish Viswanathan, Duke University and NBER

10:00 am

Break

Challenges and Opportunities of Using AI

10:15 am

The Optimal Use of AI in Financial Regulation

Christopher Clayton, Yale University and NBER
Antonio Coppola, The University of Chicago and NBER

Discussant:
Cecilia Parlatore, New York University and NBER

11:00 am

Self-Fulfilling Accuracy

Dmitry Livdan, University of California, Berkeley
Bernardo Maciel, University of California, Berkeley
Norman Schurhoff, University of Lausanne

Discussant:
Edward S. Prescott, Federal Reserve Bank of Cleveland

11:45 am

Completions, Not Convictions: Can LLM Probabilities Proxy for Human Beliefs?

Stefan Nagel, The University of Chicago and NBER
Claire Tseng, The University of Chicago
Dacheng Xiu, The University of Chicago and NBER

Discussant:
Marina Niessner, Indiana University

12:30 pm

Lunch, Mt. Auburn Ballroom

AI and Corporate Decisions

1:30 pm

Are New Technologies Replacing the Information Produced by Financial Markets?

Laurent Fresard, University of Lugano and SFI
Marco Zanotti, Stockholm School of Economics

Discussant:
Lin Peng, Baruch College of the City University of New York

2:15 pm

Patent or Trade Secret? Generative AI, Innovation Protection, and Strategic Disclosure

Terrence Shi, University of California, Los Angeles
Charles CY. Wang, Harvard University
Danye Wang, University of Iowa
Yuxiang Zheng, Rutgers University

Discussant:
Jeremy Bertomeu, Washington University in St. Louis

3:00 pm

Break

AI and Consumer Finance

3:15 pm

Who Pays for Payment Fraud? Detection and Liability Rules under Strategic Fraudster Adaptation

Vimal Balasubramaniam, Queen Mary University of London
Thomas Mosk, Queen Mary University of London
Antoine Uettwiller, Queen Mary University of London

Discussant:
Bo Bian, University of British Columbia

4:00 pm

AI and the Market for Expert Services: Evidence from Financial Advisers

Federico Mainardi, Columbia University
Don Noh, Hong Kong University of Science and Technology (HKUST)
Sangmin Simon Oh, Columbia University
Sean Shin, Korea Advanced Institute of Science & Technology (KAIST)

Discussant:
Taha Choukhmane, Massachusetts Institute of Technology and NBER

4:45 pm

Adjourn