JOSÉ S. PENALVA
e-mail
email:
jpenalva@emp.uc3m.es
telefono
address / office:
C/ Madrid, 126 - 28903 Getafe (Madrid) Spain / 7.0.49
telefono
phone / fax:
(34) 91 624 96 54 / (34) 91 624 96 07
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BUSINESS UC3M
@UC3M_BUSINESS

JOSÉ S. PENALVA

Associate Professor of Finance

Research interests

Information economics, market microstructure, law and economics 

Selected publications

  • "Signal Orderings based on Dispersion and the Supply of Private Information in Auctions", with Juan-José Ganuza, Econometrica, Volume 78, Issue 3, pages 1007–1030, May 2010 
  • "Where is the Value in High Frequency Trading?" with Álvaro Cartea, Quarterly Journal of Finance Vol. 02, No. 03, 1250014 (2012)
  • "Empirical Implications of Information Structure in Finite Extensive Form Games", with Michael D. Ryall, The B.E. Journal of Theoretical Economics (Contributions), 8(1), (2008).
  • "Insurance with Frequency Trading: A Dynamic Analysis of Efficient Insurance Markets", Review of Economic Dynamics, 4 (2001).
José Penalva is Assitant Professor of Economics at the Business Department of the Universidad Carlos III. He has an economics doctorate from the University of California, Los Angeles (UCLA) since 1997. He currently teaches Financial Management.

His research interests are: risk assignment and distribution in insurance markets, and the economics of information with a special emphasis on auctions and financial applications. His publications include journals of international prestige such as Econometrica, Review of Economic Dynamics and the Journal of Risk and Insurance. He gives presentations of his research at prestigious international conferences such as the European Group of Risk and Insurance Economists (EGRIE), the European Economic Association, the European Finance Association, and the European Econometric Society Meeting, among others.

During the 2010/2011 academic year he worked as research Fellow at the Bank of Spain.
  • "Signal Orderings based on Dispersion and the Supply of Private Information in Auctions", with Juan-José Ganuza, Econometrica, Volume 78, Issue 3, pages 1007–1030, May 2010.
  • "Tort reform and the theory of coordinating tort and insurance", with Fernando Gomez, International Review of Law and Economics, Volume 43, August 2015, Pages 83–97.
  • "Where is the Value in High Frequency Trading?" with Álvaro Cartea, Quarterly Journal of Finance Vol. 02, No. 03, 1250014 (2012).
  • "Empirical Implications of Information Structure in Finite Extensive Form Games", with Michael D. Ryall, The B.E. Journal of Theoretical Economics (Contributions), 8(1), (2008).
  • "Insurance with Frequency Trading: A Dynamic Analysis of Efficient Insurance Markets", Review of Economic Dynamics, 4 (2001).
  • "A Study of the Interaction of Insurance and Financial Markets: Efficiency and Full Insurance Coverage", Journal of Risk and Insurance, 75(2), (2008).
  • "Intertemporal Insurance", with Bryan Ellickson, Journal of Risk and Insurance, 64(4), (1997).
  • "Insuring California Earthquakes and the Role for Catastrophe Bonds", Journal of Risk Finance, 3(4), (2002).
  • "Insurance and Tort: Coordination Systems And Imperfect Liability Rules", en Internationalization of the Law and its Economic Analysis, Eger T. et al (ed), Editorial: Gabler Edition Wissenschaft, (2008).