About

We are economists and thinkers from a range of disciplines who challenge conventional wisdom and advance ideas to better serve society.

Research

We develop research that challenges economic orthodoxy and serves society.

Articles

Commentary, analysis, interviews, and research summaries by INET-affiliated writers.

Video

Interviews, presentations and video series with provocative economic thinkers, public figures and students.

Economics and Beyond with Rob Johnson, a podcast featuring interviews with some of the world’s most important thinkers, artists, and activists about the pressing issues of our time. The podcast is also available on all major podcasting platforms, such as Apple, Spotify, Google, and Podbean.

Education

Video series and courses for students and educators interested in exploring new economic thinking.

Events

To foster new economic thinking, we host convenings that gather together a diverse community of thinkers from different fields, countries, and schools of thought.

YSI

Through the Young Scholars Initiative (YSI), INET provides support to students, young professionals, or others who embrace new and critical ways of thinking about the economy. YSI fosters conversation among those who wish to engage with new economic thinking and connects young scholars to the Institute’s vast network of economists.

Topics

Browse all INET content organized by topic

Paul Pfleiderer

C.O.G. Miller Distinguished Professor of Finance, Senior Associate Dean for Academic Affairs, Professor of Law, School of Law, Stanford Graduate School of Business

Paul Pfleiderer received BA, MPhil, and PhD degrees from Yale University, all in the field of economics. He has been teaching at Stanford since 1981. His research, much of which has been jointly pursued with Anat Admati, another professor of finance at the GSB, is generally concerned with issues that arise when agents acting in financial markets are differentially informed. His current research concerns corporate governance. In addition to his academic research, Professor Pfleiderer has consulted for various corporations and banks and has been involved in developing risk models and optimization software for use by portfolio managers.

By this expert

Debt Overhang and Capital Regulation

Paper Conference paper | By Anat Admati, Peter M. DeMarzo, Martin Hellwig, and Paul Pfleiderer | Apr 2012

We analyze shareholders’ incentives to change the leverage of a firm that has already borrowed substantially. As a result of debt overhang, shareholders have incentives to resist reductions in leverage that make the remaining debt safer.