Patrik Sandås
Associate Professor of Commerce
Office phone: 434-243-2289
e-mail: patriks@virginia.edu
Education:
Ph.D., Financial Economics, Carnegie Mellon University
M.S., Financial Economics, Carnegie Mellon University
B.S., Business Administration, Swedish School of Economics and Business Administration, Helsinki
Areas of Expertise:
Professor Sandås’ primary area of research is market microstructure (the analysis, design, and regulation of trading mechanisms). His current projects include studying the importance of transparency in securities markets and the incentives of mortgage brokers. He currently teaches intermediate and advanced investments and has taught courses in trading and markets, market microstructure, corporate finance and empirical methods.
Professional Activities:
Before joining the McIntire faculty in 2005, Professor Sandås was on the faculty of the Wharton School of the University of Pennsylvania. He has been a visiting economist at the New York Stock Exchange, a research affiliate of the Financial Economics program at the Centre for Economic Policy Research, and a visiting scholar at the Institute for Financial Research in Stockholm. His work has been published in The Journal of Finance; The Review of Financial Studies; The Review of Economic Studies; Journal of Banking & Finance; and Journal of Empirical Finance and has been presented at many conferences and universities.
Selected Publications:
"Does Information Drive Trading in Option Strategies?” Journal of Banking & Finance, 2010 (with R. Fahlenbrach).
"Co-Movements of Index Options and Futures Quotes,” Journal of Empirical Finance, 2009 (with R. Fahlenbrach).
"Estimating the Gains from Trade in Limit Order Markets,” The Journal of Finance, 2006 (with B. Hollifield, R. A. Miller, and J. Slive).
"Empirical Analysis of Limit Order Markets," The Review of Economic Studies, 2004 (with B. Hollifield and R. A. Miller).
"Market Making with Costly Monitoring: An Analysis of the SOES Controversy," The Review of Financial Studies, 2003 (with T. Foucault and A. Röell).
Working Papers:
"Search for Liquidity Using Iceberg Orders" (with S. Frey).
"What Broker Charges Reveal about Mortgage Credit Risk" (with A. Berndt and B. Hollifield).