Steven L. Heston | |
---|---|
Citizenship | American |
Alma mater | Carnegie Mellon University, Ph.D. |
Known for | Quantitative research; investment modelling |
Scientific career | |
Fields | Economics; Mathematics; Finance; Investment strategies |
Thesis | Testing Continuous Time Models of the Term Structure of Interest Rates (1990) |
Steven "Steve" L. Heston is an American mathematician, economist, and financier.[1] He's also prominently active in the field of gambling-related research, where he sometimes uses the pen name Kim Lee.
Steve Heston studied Mathematics and Economics at the University of Maryland, wherefrom he obtained his B.S. In 1985, he completed his M.B.A. studies in Industrial Administration at the Carnegie Mellon University's Graduate School of Industrial Administration. From the same university, Carnegie Mellon, in 1987, he received his M.S. in Finance and in 1990 his Ph.D.[1]
Heston was at the Yale School of Organization and Management from 1989 until 1993, a Visiting Assistant Professor of Finance at the Columbia Business School until 1994, and Assistant Professor of Finance at the Washington University in St. Louis until 1998.
He is currently, and since 2002, Professor of Finance at the University of Maryland, at College Park.[1]
Heston is known [2] for analyzing options with stochastic volatility.[3]
From 1998 to 2002, Heston worked as Vice President of U.S. Arbitrage and also of Quantitative Equities, in Goldman Sachs, New York.[1]
Heston is the originator of the eponymous Heston model, a mathematical formulation describing the evolution of an underlying asset's volatility.[4]