SI 2026 Financial Market Structure
Organized by Tarun Chordia, Paolo Pasquariello, Gideon Saar, and Mao Ye
July 18, 2026
Royal Sonesta Hotel, 40 Edwin H. Land Blvd., Cambridge, MA
Format: 25 minutes for the author, 20 minutes for the discussant, and 15 minutes for general discussion
Friday, July 17
6:30 pm
Dinner at the Royal Sonesta Hotel
Saturday, July 18
8:30 am
Coffee and Pastries
9:00 am

Adverse Selection in Prediction Markets: Evidence from Kalshi

Robert P. Bartlett III, Stanford University
Maureen O'Hara, Cornell University

Discussant:
Joel Hasbrouck, New York University
10:00 am
Break
10:15 am

Inelastic Demand at the Extensive and Intensive Margins

Allen Hu, University of British Columbia
Zigang Li, University of Toronto
Xindi He, Georgia Institute of Technology

Discussant:
Valentin Haddad, University of California, Los Angeles and NBER
11:15 am

Human Edge, Machine Limits: Algorithmic Herding and AI-Human Competition

Winston Wei Dou, University of Pennsylvania and NBER
Itay Goldstein, University of Pennsylvania and NBER
Zigang Li, University of Toronto
Liyan Yang, University of Toronto

Discussant:
Jean-Edouard Colliard, HEC Paris
12:15 pm
Lunch
1:30 pm

Multi-Asset Market Making (slides)

Ioanid Rosu, HEC Paris
Andriy Shkilko, University of Georgia
Elvira Sojli, University of New South Wales
Wing W. Tham, University of New South Wales

Discussant:
Clara Vega, Federal Reserve Board of Governors
2:30 pm
Break
2:45 pm

The Viability of Blockchain Markets under Discrete Clearing and Paid Priority

Agostino Capponi, Columbia University
Álvaro Cartea, University of Oxford
fayçal drissi, University of Oxford

Discussant:
Maryam Farboodi, Massachusetts Institute of Technology and NBER
3:45 pm

The Price of Exchange Data

Thierry Foucault, HEC School of Management
Vincent Maurin, HEC Paris

Discussant:
TBA
4:45 pm
Adjourn