SI 2026 Financial Market Structure
Organized by Tarun Chordia, Paolo Pasquariello, Gideon Saar, and Mao Ye
Supported by Elsevier
July 18, 2026
Royal Sonesta Hotel, 40 Edwin H. Land Blvd., Cambridge, MA
Room: Parkview
Format: 25 minutes for the author, 20 minutes for the discussant, and 15 minutes for general discussion
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

The Limits of AI Trading (slides)

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:
Terrence Hendershott, University of California, Berkeley
4:45 pm
Adjourn