Stefano LOVO

Professor

Finance

lovo@hec.fr http://www.hec.fr/lovo
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Biography

Stefano Lovo received his Ph.D. in 2000 from CORE (Université Catholique de Louvain). He is a member of GREGHEC (CNRS).

His research focuses on information economics and its applications to financial markets and corporate finance. He has worked on various topics such as asymmetry of information among market-makers, inter-corporate asset sales, repeated games, market herd behavior, multi-unit auctions. His work is published or is in academic journals such as Econometrica, The Review of Economic Studies, Review of Financial Studies, among others.

Scientific articles

Working papers

Bid Ask Price Competition with Asymmetric Information Between Market Makers

Discussion paper - CORE, Université Catholique de Louvain , 1998

Herding Behavior in Financial Markets

Mimeo , 2026

Influence costs and the method of divestiture

Mimeo , 2026

On the Information Content of the Order Flow: an Experiment

Mimeo , 2026

Scientific articles

Belief-free equilibria in games with incomplete information: characterization and existence

Journal of Economic Theory, September 2011, vol. 146, n° 5, pp 1770-1795, (in coll. with J. Hörner, T. TOMALA)

Myopia and Monetary Equilibria

Journal of Mathematical Economics, September 2010, vol. 46, n° 5, pp 925-936, (in coll. with H. Polemarchakis)

Belief-free equilibria in games with incomplete information

Econometrica, July 2009, vol. 77, n° 2, pp 453-487, (in coll. with J. Hörner)

Equity and Cash in Intercorporate Asset Sales: Theory and Evidence

Review of Financial Studies, February 2009, vol. 22, n° 2, pp 681-714, (in coll. with M. Slovin, U. HEGE, M. Sushka)

Working papers

Preopening and Equilibrium Selection

Cahier de Recherche du Groupe HEC , 2010

When Private Equity Can Afford to be Generous

Mimeo , 2010

Belief-free equilibria in games with incomplete information: characterization and existence

Cahier de Recherche du Groupe HEC , 2009

Belief-free equilibria in games with incomplete information: characterization and existence

Working Papers, Yale School of Management's Economics Research Network , 2009

Education

  • Ph.D. in Economics, Center for Operation Research and Econometrics (CORE), Université Catholique de Louvain - Belgium
  • Master of Arts in Economics, Universite Catholique de Louvain la Neuve - Belgium

Academic appointments

Academic Responsibilities at HEC

  • 2022-2023 Department Head, Finance HEC Paris

Scientific Activities

Membership in Academic or Professional Organisation

  • Member, American Finance Association
  • Member, Western Finance Association
  • Member, Econometric Society
  • Member, Marie Curie Fellowship Association

Editorial activities

  • Reviewer, Journal of Mathematical Economics

    • Awards & honors

    • 2025 2025 Faculty Impact award with Yurii Handziuk
    • 2010 Prix du Chercheur de l'annee 2010, Fondation HEC
    • 1999 PAI-UAP "First Price for Young Researcher" for the paper on "Bid-Ask Price Competition with Asymmetric Information Between Market Makers"