Prof. Richard T. Thakor
3-255 Carlson School

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Richard Thakor

Assistant Professor


  • Ph.D. 2016
    Financial Economics, Massachusetts Institute of Technology (MIT)

  • M.S. 2015
    Management Research, Massachusetts Institute of Technology (MIT)

  • MSc 2008
    Finance and Economics, London School of Economics

  • B.A. 2007
    Economics and Psychology, Washington University in St. Louis


  • Corporate Finance, R&D Investments, Healthcare Finance, Financial Institutions

Selected Works

  • Liquidity Windfalls and Reallocation: Evidence from Farming and Fracking
    Download (3.54 MB)
  • Customers and Investors: A Framework for Understanding Financial Institutions (with Robert C. Merton)
    Download (540.03 KB)
  • A Theory of Efficient Short-termism
    Download (428.1 KB)
  • Competition and R&D Financing Decisions: Evidence from the Biopharmaceutical Industry (with Andrew W. Lo)
    Download (714.28 KB)
  • Financial Risk and Return in the Biotech and Pharmaceutical Industries from 1930 to 2015 (with Nicholas Anaya, Yuwei Zhang, Christian Vilanilam, and Andrew W. Lo)
  • Sharing R&D Risk in Healthcare via FDA Hedges (with Adam Jørring, Andrew W. Lo, Tomas J. Philipson, and Manita Singh)
    Download (774.69 KB)
  • The Effect of Cash Injections: Evidence from the 1980s Farm Debt Crisis (with Nittai Bergman and Rajkamal Iyer)
    Download (414.34 KB)

Current Activities