Patrik Sandås

Associate Professor of Commerce

Office phone: 434-243-2289
e-mail: pvs6f@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, focusing on how the design of trading mechanisms influences trader behavior and the price formation process. He teaches a course in investments and has taught courses in corporate finance and empirical methods in finance.

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 the visiting economist at the New York Stock Exchange, and he is a research affiliate of the Financial Economics program at the Centre for Economic Policy Research. His work has been published in 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: 

"The Impact of Hidden Liquidity in Limit Order Books,” working paper, 2008 (with S. Frey).

"Co-Movements of Index Options and Futures Quotes,” forthcoming, Journal of Empirical Finance, 2008 (with R. Fahlenbrach).

"Estimating the Gains from Trade in Limit Order Markets,” 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).