Carnegie Mellon University

Chester Spatt

Chester S. Spatt

Pamela R. and Kenneth B. Dunn Professor of Finance

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  • TEP - Tepper Building - Room 5113
  • 412-268-8834
5000 Forbes Avenue
Pittsburgh, PA 15213


  • University of Pennsylvania - Ph D (Economics) - 1979
  • University of Pennsylvania - MA (Economics) - 1976
  • Princeton University - BA (Economics) - 1975


Working Papers

Awards and Honors

  • Appointment to Systemic Risk Council (chaired by Sheila Bair, former FDIC chair) (2012)
  • "Optimal Asset Location and Allocation with Taxable and Tax-Deferred Investing" with R. Dammon and H. Zhang from TIAA/CREF for Outstanding Scholarly Writing on Issues Related to Lifelong Financial Security - 2004 Paul A. Samuelson Award (2004)
  • "Optimal Consumption and Investment with Capital Gains Taxes" with R. Dammon and H. Zhang for Barclays Global Investors/Michael Brennan Best Paper Prize for Volume 14 (2001) of the Review of Financial Studies - Runner-up Award (2001)
  • "Equilibrium Forward Curves for Commodities" with B. Routledge and D. Seppi as Best Paper Presented at the 1998 meetings of the Institute for Quantitative Research in Finance - First-Prize-Roger Murray Award (1998)
  • "An Option Theoretic Approach to the Valuation of Dividend Reinvestment and Voluntary Purchase Plans" at the Western Finance Association meeting - Recipient (with R. Dammon) of American Association of Individual Investors (1990)

University Service

  • Finance Faculty Recruiting Committee, Member (2015 - 2016)
  • Tepper Building Committee, Member (2015 - 2016)
  • Tepper Library Advisory Committee, Member (2010 - 2016)
  • Attended Heinz Field Alumni Dinner—one alum committed an extra $ 1,000 because I posed for a photo with a stuffed animal!, Alumni Event Participation
  • Potential Donor Meeting
  • I attended several hockey games as faculty host, Student Event - Participation

Professional Activities

  • Committee Member, U.S. Securities and Exchange Commission (SEC) and Subcommittee on Regulation NMS, Equity Market Structure Advisory Committee (2015 -)
  • Chairperson, Working Group on Market Liquidity of the Advisory Committee of the Office of Financial Research (2015 -)
  • Committee Member, Office of Financial Research and Research Subcommittee member, Advisory Committee (2014 -)
  • Program Committee Member, European Finance Association Meetings, Conference-Related (2015 - 2016)
  • Program Committee Member, Society for Financial Studies Cavalcade, Conference-Related (2015 - 2016)
  • Co-Organizer, Credit Rating Agency Conference at Carnegie Mellon , funded by Sloan Foundation (December 2015)
  • Program Committee Member, American Finance Association, Conference-Related (2015)
  • Session Chair, Financial Intermediation Research Society (2015)
  • Session Chair, Securities and Exchange Commission Second Annual Economics Conference on Financial Market Regulation (2015)
  • Member, Federal Reserve Bank's Model Validation Council (2012 - 2015)