Research areas
- Mathematical economics and dynamic general equilibrium
- Financial economics: speculation, bubbles, herding
- Long-run asset pricing, principal eigenvalue and operator methods
- Stochastic dynamics in economics, ergodic theory of economic systems
- Macroeconomic networks and aggregate fluctuations
Key papers
- hansen-scheinkman-2009-long-term-risk-operator-approach — operator-theoretic decomposition of pricing semigroups; principal eigenvalue / multiplicative factorization framework.
Recent work
(to be filled — more Scheinkman papers as they are ingested)
Collaborators
- Lars Peter Hansen (lars-peter-hansen) — long-run risk operator approach
- Wei Xiong — heterogeneous-beliefs speculation models
- Nicholas Yannelis, Jean-Michel Lasry — mean-field game theoretic approaches in economics
- Xiaohong Chen — semiparametric estimation for diffusion models
My notes
Long-time Princeton mathematical-economics chair before moving to Columbia; Guggenheim Fellow during the writing of the 2009 long-term risk paper. The 2009 paper with Hansen synthesizes Scheinkman’s expertise in stochastic dynamics with Hansen’s expertise in asset-pricing operators, producing the existence/uniqueness theorems for principal eigenvalues that anchor the modern long-run risk literature. For the CRE asset pricing project, the Scheinkman-style Perron-Frobenius approach is the natural lens for understanding why the long-horizon Riccati recursions converge (and why “Apartment” is the slow asset — small spectral gap).