Simon Gervais
Institution
Duke University
PhD Year
1997
Phone
919-660-7683
simon.gervais@duke.edu
FTG Membership
Member
Website
https://sites.duke.edu/sgervais/
Featured Work
Dec 13, 2016
Transparency and Talent Allocation in Money Management
We construct and analyze the equilibrium of a model of delegated portfolio management in which money managers signal their investment skills via fund transparency. To lower the costs of transparency, high-skill managers rely on their performance to separate from low-skill managers over time. In contrast, medium-skill managers rely on transparency to separate, especially when it is difficult for investors to tell them apart through performance...
