Dr. Dan Schley and Dr. Rogier Quaedvlieg receive VENI Grants
ERIM Member Dr Dan Schley from Rotterdam School of Management, Erasmus University (RSM) and ERIM Associate Member Dr Rogier Quaedvlieg, Assistant Professor at Erasmus School of Economics have been awarded a prestigious Veni grant by The Netherlands Organisation for Scientific Research (NWO).
Dr Dan Schley plans to use the grant to further research overconsuming, and to develop a new stream of self-control research. The project of Dr Rogier Quaedvlieg will develop the concept of realized semicovariances, which will help shed light on the asymmetries in the dynamics of stock prices during up- and down-movements.
Overspending and self-control
“I’m very excited for this grant because it will afford me the opportunity to study a topic I have been thinking about for several years,” says Dr Schley. He added that peoples’ failure to maintain self-control, such as overeating and overspending, is a difficult problem to solve.
Dr Schley explained that most approaches, such as savings plans, require consumers to adopt and maintain a regulatory programme. But the maintenance of such programmes requires self-control, leading to a ‘Catch 22’, which means one requirement is dependent on another which in turn is dependent on the first.
Understanding asymmetries in financial markets
Dr Quaedvlieg tells: “I am very excited about being awarded the grant. It’s great to get validation for your research ideas, and the Veni grant really helps in creating the right conditions to develop these ideas.“ He anticipates that the new methods developed will help better understand the asymmetries in financial markets, which can mainly be used to improve risk management, by better forecasting future volatility, or better hedging the severe downside risks.
Dr Quaedvlieg made clear that most of his research uses high-frequency data. The data requires different and more elaborate techniques than daily or monthly data. However, they also allow to uncover certain dynamics and empirical regularities which are simply unobservable at lower frequencies. It is a combination of developing those econometric methods and using them to obtain new economic insights.
NWO awarded Veni grants, which run up to €250,000, to 154 researchers who have recently obtained their doctorate. The grant provides highly promising young scientists with the opportunity to further elaborate their own ideas during a period of three years. Recipients of a Veni grant are primarily selected based on quality, innovative character and expected academic impact of the proposed research. Schley and Quaedvlieg are two of the eight researchers from Erasmus University Rotterdam who have been awarded this Veni grant.