Andrew W. Lo is the Charles E. and Susan T. Harris Professor, a Professor of Finance, and the Director of the Laboratory for Financial Engineering at the MIT Sloan School of Management.
Lo's current research spans four areas: evolutionary models of investor behavior and adaptive markets, artificial intelligence and financial technology, healthcare finance, and impact investing. Recent projects include: an evolutionary explanation for bias and discrimination and how to reduce their effects; a new analytical framework for measuring the impact of impact investing; the potential for large language models to provide trustworthy financial advice to retail investors; new statistical tools for predicting clinical trial outcomes, incorporating patient preferences into the drug approval process; and accelerating innovation in deep tech via novel business, financing, and payment models.
Lo has published extensively in academic journals (see http://alo.mit.edu) and his most recent book is The Adaptive Markets Hypothesis: An Evolutionary Approach to Understanding Financial System Dynamics. His awards include Batterymarch, Guggenheim, and Sloan Fellowships; the Paul A. Samuelson Award; the Eugene Fama Prize; the IAFE-SunGard Financial Engineer of the Year; the Global Association of Risk Professionals Risk Manager of the Year; the Harry M. Markowitz Award; the Managed Futures Pinnacle Achievement Award; one of TIME’s “100 most influential people in the world”; and awards for teaching excellence from both Wharton and MIT. His book Adaptive Markets: Financial Evolution at the Speed of Thought has also received a number of awards. He is a Fellow of the American Finance Association, Academia Sinica, the American Academy of Arts and Sciences, the Econometric Society, and the Society of Financial Econometrics.
Lo is also a principal investigator at the MIT Computer Science and Artificial Intelligence Laboratory, an external faculty member of the Santa Fe Institute, and a research associate of the National Bureau of Economic Research. He has co-founded several asset management and biotech companies, and sits on the boards of several for-profit and non-profit public and private healthcare organizations.
Lo holds a BA in economics from Yale University and an AM and PhD in economics from Harvard University.
