Peter Kondor
Institution
London School of Economics and Political Science
PhD Year
2006
Phone
+4420 7107 5011
p.kondor@lse.ac.uk
FTG Membership
Member
Website
https://www.peterkondor.net/
Featured Work
Nov 1, 2025
Demand Elasticity in Dynamic Asset Pricing
Standard demand elasticity estimation treats investors’ demand slopes as stable objects that can be traced out by exogenous residual supply shifts. We show this identification strategy fails in dynamic settings: supply shocks cause demand curves to tilt and shift through general equilibrium effects. The mechanism is intuitive — investors’ demand depends on the entire distribution of current and future returns, including volatility, covariances, and correlations...
