MARYAM SAMI
https://sites.google.com/a/stonybrook.edu/maryam-sami/
maryam.sami[at]stonybrook.edu
STONY BROOK UNIVERSITY
Contact Information
Economics Department
Stony Brook University
Social & Behavioral Sciences, Room S-626
Stony Brook, NY 11794-4384
Phone: (631) − 974 − 0006
Research Interests
Financial Economics, Market Micro-structure, Microeconomic Theory.
Education
Ph.D., Economics , Stony Brook University, May 2015 (expected).
Diploma in Economics, Institute for Advanced Studies (IHS), Vienna (Austria), 2009.
MA, Socio-Economics Systems Engineering, Institute for Management and Planning Studies,
Tehran (Iran), 2007.
B.Sc in Applied Mathematics, Khajeh Nasir Toosi University of Technology, Tehran (Iran),
2004.
Dissertation
Dissertation Title: Essays on Fund Managers and Price Co-movements.
Committee: Prof. Sandro Brusco (Main Adviser) , Prof. Pradeep Dubey, Prof. Yair Tauman,
Prof. Alberto Bisin (Outside member)
Working Papers
“Price Co-Movements and Investment Funds.” , Job Market Paper.
“Reputational Concerns and Price Co-Movements,” joint with Sandro Brusco.
References
Sandro Brusco (adviser)
Stony Brook University
sandro.brusco@stonybrook.edu
(631) − 632 − 7548
Alberto Bisin
New York University
alberto.bisin@nyu.edu
(212) − 998 − 8916
Pradeep Dubey
Stony Brook University
pradeep.dubey@stonybrook.edu
graduate economics@stonybrook.edu
(631) − 632 − 7549
Teaching Experience
Department of Economics, Stony Brook University:
Instructor
Teaching Assistant
Teaching Assistant
Instructor
Instructor
Teaching Assistant
Intermediate Microeconomics
Introduction to Economics
Graduate Microeconomics
Environmental Economics
Introduction to Economics
Introduction to Economics
Fall 2014, Fall 2012
Summer 2014, Fall 2013
Spring 2013, Spring 2012
Summer 2012, Summer 2011
Fall 2011
Fall 2009- Spring 2011.
Seminar and Conference Presentations
Financial Economics Workshop, New York University, November 2014.
Financial Economics Workshop, New York University, April 2014.
The 24th Annual Stony Brook Game Theory Conference, July 2013.
The Eastern Economic Association Conference, May 2013.
The 23rd Annual Stony Brook Game Theory Conference, July 2012.
Computer Skills
C, C++, Matlab, Maple, Stata, Dreamweaver (beginner)
Languages
Farsi (native), English, Arabic
Abstracts of Papers
• Price Co-Movements and Investment Funds (Job market paper)
This paper discusses asset pricing implications for price co-movement of having global
funds and specialized funds in two fundamentally independent financial markets. The
investment decisions of funds are delegated to fund managers who are informed or uninformed of the state of the markets and have reputational concerns. We show that
in any equilibrium of the model, prices of the risky assets co-move with each other.
The mechanism that generates this co-movement relies on two sources: the information
asymmetry between fund managers and the reputational concerns of uninformed fund
managers facing the threat of dismissal.
• Reputational Concerns and Price Co-Movement
We analyze the rational expectation equilibria of a delegated portfolio management
model in which two risky assets have completely independent return and liquidity shocks.
Managers are either informed or uninformed of the true state of the assets. At the end of
each period, managers are paid a fixed share of the return and are retained if they have
invested on the repaying risky asset with the lowest price or risk free bond when both
assets default. We show that, as long as some reasonable assumptions on the nature of
equilibrium are imposed, there is a set of realizations of the liquidity shocks such that
the returns are not revealed. In this region, the prices of the two assets show a strong
form of co-movement, as they must be identical. This occurs despite the fact that the
two assets have different ex-ante probabilities of repayment.