אודות רפי אלדור
 
 
 

אודות רפי אלדור

Office - Interdisciplinary Center, P.O. B 167, Herzelia 46150
Tel: 09 – 9527234, 09 – 9527222
E-mail: eldor@idc.ac.il

Education:

1978 Tel Aviv University Economics B.A.
1981 Harvard University  Economics M.A.
1982 Harvard University  Economics Ph.D.

Fields of Interest:   Financial Markets

Academic Experience:

1983 – 1996 Tel Aviv University Lecturer
1985 Columbia University Visiting  Professor
1986 - 1988 Boston University Visiting  Professor
1992 - 1998 Bar-Ilan University   Senior Lecturer
1998 - 2004 Interdisciplinary Center Senior Lecturer
 2005 - to date Interdisciplinary Center Associate Professor

Publications

Books

“Options and Futures Contracts” (1991,1992,1994,1997,2001,2004,2006,2010) .
“Financial Products” , with Kobi Kriesler,  (2005, 2006).
“A New Guide to the Israeli Capital Markets”, with Yair Zimon and Adi Wasserman, Amiai Publication (1997, 1999, 2000, 2001, 2002, 2005 , 2008).

Articles

"Small Investment and Large Returns: Terrorism, Media and the Economy", with Rafi Melnick, forthcoming in European Economic Review.


 "SPAN Margining of Option Trading: How Accuracy Promotes Efficiency", with Shmuel Hauser and Uzi Yaari forthcoming in  Multinational Finance Journal.

 "A Cost of Tax Planning," with Margalioth, Yoram; Sulganik, Eyal;and Edrey, Yoseph, Review of Law & Economics: Vol. 5 (2009).

”The Non Tradability Premium of Forward Contracts”, with  Shmuel Hauser, Avraham Kamara and Miki Kahn, Journal of Business 79, 2069-2079,( 2006).

” The Contribution of Market makers to Liquidity and Efficiency of Options Trading in Electronic Markets”, with Shmuel Hauser, Batia Pilo and Itzik Shurky, Journal of Banking and Finance 30, 2025- 2040,( 2006).


”The Tel Aviv Stock Exchange Index as a Leading Indicator to the Israeli Economy”,with Rafi Melnick, The Economic Quarterly”,( 2006) ,  554-565 (Hebrew).

“Financial Markets and Terrorism”, with Rafi Melnick, European Journal of  Political Economy 20  (2004), 367-386.

”Firm’s Output under Uncertainty and Asymmetric Taxation”, with Itzhak Zilcha,  Economica 71 (2004),141- 153.

”Structured Products in Israel”, with Kobi Kriesler, Banking Review  153 (2004),18-31. (Hebrew).

“Tax Asymmetry, Production and Hedging”, with Itzhak Zilcha, Journal of Economics and Business 54 ( 2002), 345-356.

”The Price of Options Illiquidity” ,with  Shmuel Hauser and Menachem Brenner, Journal of Finance 56 (2001), 789-805.

“Tax Asymmetry and  Futures Markets”, Economics Quarterly, with Yoram Margaliot, Itzhak Zilcha, and Eyal Sulganik ( 2001) (Hebrew).

“New Era In Risk Management”, Rohe Laheshbon 426 (2000), 144-147(Hebrew).

“Optimal Spreading When Spreading Is Optimal”, with Avraham Lioui, Journal of Economics, Dynamics & Control 23 (1998), 277-301.

“Exporting Firm And Forward Markets: The Multiperiod Case”, with Itzhak Zilcha, Journal of International Money and Finance 10 (1991), 108-117.

 “Trade Liberalization And Imperfect Competition: A welfare Analysis”, with Dan Levin, International Economics Review 31 (1990), 773-782.

“Oligopoly, Uncertain Demand And Forward Markets”, with Itzhak Zilcha, Journal of Economics and Business 42 (1990), 17-26.

“The Determinants Of The Individual’s Demand For Hedging Instruments”, with David Pines and Abba Schwarts, Journal of Futures Markets 9 (1989), 135-141.

“Home Asset Preference And Productivity Shocks” with David Pines and Abba Schwartz, Journal of International Economics 25 (1988), 165-176.

“Quotas As Options: Valuation And Equilibrium Implications”, with Alan Marcus, Journal of International Economics 24 (1988), 255-274.


“Discriminating Monopoly, Forward Markets And International Trade”, with Itzhak Zilcha, International Economics Review 28 (1987), 459-468.

“The Futures Price of  Commodity in a Fixed Supply”, with David Pines, Economics Letters 23 (1987), 37-41.

“The Effective Protection Rate Under Uncertainty: A Note”, The Economic Record (1986), 485-489.

“Currency Options Cope With Uncertainty” with Tamir Agmon, in International Financial Management: Theory and Applications: Edited by Donald R. Lessard, Warren Gorham & Lamon, 1986 (second edition).

“Increasing Returns, Imperfect Competition and The International Economy”, The Economic Quarterly 29 (1986), 708-710.

“Optimal International Hedging in a Commodity and Currency Forward Markets”, with Simon Benninga and Itzhak Zilcha, Journal of International Money and Finance 4 (1985), 137-141.

“Currency Options as a Theoretical and Practical Instrument In Hedging The Exchange Risks In Excess Of Loss Reinsurance”, with Yehuda Kahane, Insurance: Mathematics and Economics 4 (1985), 137-141.

“On The Risk–Adjusted Effective Protection Rate”, The Review of Economics and Statistics 66 (1984), 129-136.

“On The Valuation of Currency Options and Exchange Rate Insurance Programs”, Economics Letters 16 (1984), 129-136.

.“The Optimal Hedge Ratio In An Unbiased Futures Markets”, With Simon Benninga and Itzhak Zilcha, The Journal of Futures Markets 4 (1984).

.“Hedging Excess Of Loss Reinsurance With Currency Options”, with Yehuda Kahane, Risk Management (1983), 50-53.

“Optimal Hedging In the Futures Market Under Price Uncertainty”, with Simon Benninga and Itzhak Zilcha, Economics Letters 13, (1983), 141-145.

 Chapters in BooksCBeijing, Chinav

“Terrorism, Financial Markets and Resource Allocation”, with Rafi Melnick, in “The Integration and Management of Traumatised People After Terror Attacks “– NATO Security Through Science, IOS Press (May 2007).

“Financial Markets and Terrorism”, with Rafi Melnick, European Journal                                                                                                                                  of Political Economy 20, Reprinted in “The Economic Analysis of Terrorism”, Edited by Tilman Bruck, Routledge Studies, Ch 8, pages 121-145, (2007).

“The Demand For Domestic Assets And Consumption Risk”, with David Pines and Abba Schwartz, in “Recent Developments In International Banking/Finance” (Chapter 14), Edited by S.J. Khoury, D.C. Heath Company (1988).

 “The Impact of Terrorism and Anti -Terrorism on Capital Markets“, pp.77-90,
with Shmuel Hauser, Rafi Melnick and Abrahm Levi, New Terrorism Issues,
Edited by Lucy S. MacLeod and Olivia C. Thomson, Nova Publishers (2009).

Best Paper Awards

1.”The Non Tradability Premium of Forward Contracts”, by Rafi Eldor,  Shmuel

 Hauser, Avraham Kamara and Miki Kahn, received Best Paper Award in the

 conference of the Multinational Finance Society in La Garda , Italy (2001).

 2.“On The Valuation of Currency Options and Exchange Rate Insurance Programs”,  by Rafi Eldor , received Best Paper Award in the the

 competition of Erhard Centre in Tel Aviv University (1984).

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