Paola Sapienza

Paola Sapienza is the Donald C. Clark/HSBC Chair in Consumer Finance Professor at the Kellogg School of Management. She also serves as a faculty research fellow in the National Bureau of Economic Research's program on corporate finance and political economy, and has previously served as a faculty fellow in the former Zell Center for Risk Research, a research affiliate of the Center for Economic Policy Research. Sapienza's areas of expertise include banking and financial institutions, behavioral economics, behavioral finance, corporate finance, emerging markets and regulation of financial markets, private equity and venture capital. Sapienza has written articles on banking, social capital, trust and financial development. Professor Sapienza is also an independent board member of Assicurazioni Generali SpA since April 2010.

Back to Work? The Political Preparation for “Phase 2” of the Pandemic Is a Matter of Trust

According to a special wave of the Booth/Kellogg Financial Trust Index, Americans have bought into social distancing rules. However, most of the respondents are...

Chicago Booth/Kellogg School Financial Trust Index Shows Americans’ Trust in Financial Institutions Increasing After Rocky Decade

Financial trust increased from 22 percent in 2008 to 28 percent at the end of 2018, according to a survey marking the 10-year anniversary...

A House Divided

On the eve of Donald Trump's inauguration as president, the latest update of the Chicago Booth/Kellogg School Financial Trust Index survey finds that Americans are sharply divided on...

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George Stigler on Henry Simons, “Crown Prince” of the Chicago School

To mark 75 years since the passing of Henry Simons, professor of Economics and Law at the University of Chicago, ProMarket is...

Electoral College Reform: New Problems or Real Solutions?

Each electoral system creates specific incentives to (mis)allocate government resources. Would putting the National Popular Vote (NPV) in lieu of the Electoral...

When Do Users Benefit From Platform Mergers?

A new paper shows that platform mergers can harness network effects at the cost of reducing the platform differentiation that users value. 

Harold Demsetz and Israel Kirzner Understood That Competition Regulates Markets

Economists Harold Demsetz and Israel Kirzner challenged the prevailing orthodoxy in microeconomic analysis and public policy beginning with their respective work in...

The Covid-19 Pandemic Should Not Delay Actions to Prevent Anticompetitive Consolidation in US Health Care Markets

Harvard Business School professor Leemore Dafny lays out potential reforms to assist agencies in halting anticompetitive acquisitions and practices, and to preserve...

Who Benefits From Competitive State-Level Legislatures?

A new paper finds that when interparty competition in state legislatures is high, well-connected and influential incumbent firms are best able to...

No More “Mystery Meat”: Why We Need Better Corporate Governance Data

Three decades of finance, economics, and legal studies in corporate governance have been built substantially on data sets with nearly unknown provenance....