Dr. Hamed Ghoddusi

School: School of Business
Building: Babbio Center
Room: 417
Phone: 201 216 3512
Fax: 201 216 5385
Email: Hamed.Ghoddusi@stevens.edu
  • Postdoc, Massachusetts Institute of Technology (MIT), 2011-2013
  • PhD in Finance, Vienna Graduate School of Finance (VGSF), 2007-2011
  • Visiting PhD Student, University of Texas, Austin, 2009-2010
  • Post-graduate diploma in Economics, Institute for Advanced Studies
    (IHS), Vienna, 2005-2007
  • M.B.A, Sharif University of Technology, 2000-2003
  • BSs in Industrial Engineering, Sharif University of Technology, 1995-2000

Research Interests:  Energy and Commodity Finance, Investment under Uncertainty, Risk Management, Real Estate Finance

Refereed Journal Articles

  1. Ghoddusi, H., Wirl, F., "A Risk-Hedging View to Downstream Investment for Oil-Rich Economies", Forthcoming, The Energy Journal
  2. Ghoddusi, H., Morovati, M., Rafizadeh, N., 2019, "Exchange Rate Volatility and Gasoline Consumption", Energy Economics
  3. Ghoddusi, H., Creamer, G., Rafizadeh, N., 2019, "Machine Learning in Energy Economics: A Review", Energy Economics
  4. Shantia, A., Aflaki, S., Ghoddusi, H., 2019, "Input-price Risk Management:Technology Improvement and Financial Hedging", Production and Operations Management
  5. Ghoddusi H., Afkhami, M., 2019, "Valuation of Mortgage Interest Deduction under Uncertainty: An Option Pricing Approach",   Journal of Economic Dynamics and Control 
  6. Ghoddusi H, Rafizadeh N, Rahmati, MH, 2018, "Price Elasticity of Gasoline Smuggling", Energy Economics
  7. Ghoddusi H, Nili, M, and Rastad, M, 2017, "On Quota Violations of OPEC Members", Energy Economics
  8. Ghoddusi H and Roy M, 2017, "Supply Elasticity Matters for the Rebound Effect and Its Policy Implications", Energy Economics
  9. Ghoddusi H, Afkhami, H. Cormack, L., 2017, "The Most Predictive Energy Search Terms", Energy Economics 
  10. Ghoddusi, H, Emamzadeh Fard, S, 2017, "Optimal Hedging in the US Natural Gas Market: the Effect of Maturity and Cointegration", Energy Economics
  11. Ghoddusi, H, 2017, "Blending Under Uncertainty: Real Options Analysis of Ethanol Plants and Biofuels Mandates", Energy Economics  
  12. Ghoddusi, H and Fahim, A, 2016, "Volatility Can be Deterimental to Option Values", Economics Letters 
  13. Ghoddusi, H, 2016, "Integration of Physical and Futures Prices in the US Natural Gas Market", Energy Economics 
  14. Ekholm, T., Ghoddusi, H., Krey, V., & Riahi, K, 2013, The Effect of Financial Constraints on Energy-Climate Scenarios. Energy Policy
  15. Ghoddusi, H, 2010, Dynamic Investment in Extraction Capacity of Exhaustible Resources , Scottish Journal of Political Economy 

Working Papers and Papers Under Review

  1. "Pricing Renewable Identification Numbers (RINs) under Uncertainty", with Mohamad Afkhami, Second Round, Journal of Economic Dynamics and Control, SSRN
  2. "Optimal Investment in Two-Sided Markets under Technological Uncertainty", 2019, with Baran Siyahhan and Alexander Rodivilov, SSRN
  3. "The Hedging Value of Low-Quality Capital in Competitive Industries", 2019, with Thomas Dangl, SSRN
  4. "Hedging Commodity Price Risk in a Supply Chain", 2019, with Sheridan Titman and Stathis Tompaidis, Under Review
  5. "Endogenous Profit Dynamics in Commodity Processing Firms", 2019, with Sheridan Titman and Stathis Tompaidis
  6. "Income Elasticity of Demand versus Income Elasticity of Consumption", with Mandira Roy and Alexander Rodivilov, Under Review, SSRN
  7. "Immigration Option and Optimal Investment in Human Capital", 2016, with Baran Siyahhan, R&R, Review of International Economics, SSRN

Book Chapters:

Work in Progres

  • "Volatility: Good, Bad, Ugly!", with Shayan Dashmiz
  • "Renewable Energy Investment with Endogenous Policy Change", with Verena Hogspiel and Lars Hegnes
  • "Risk Management in a Supply Chain Through Technology Improvement", with Sam Aflaki and Ali Shantia
  • "Socially Responsible Optimal Capacity Allocation", with Sam Aflaki and Sara Rezaee Vesal
  • Post-doctoral Associate, Massachusetts Institute of Technology (MIT), 2011-2013
  • Visiting Scholar, Oxford Institute for Energy Studies (OIES), 2011
  • Young Scientist Summer Program (YSSP), International Institute for Applied Systems Analysis (IIASA), 2010
  • Consultant, United Nations Industrial Development Organization, 2004-2005
Professional Service

Selected Presentations

  • 2019: Oklohoma University Energy Finance Conference, Annual Conference of Energy and Commodity Markets, International Real Options Conference, ESSEC Business School, Institut Mines Telecom, Sixth Conference on Iran's Economy, Supply Chain Finance & Risk Management Workshop, Florida State University,Economic Research Forum (ERF)
  • 2018: ًVienna University of Natural Resources, Norwegian University of Science and Technology (NTNU), Rutger Business School (Operations Management), World Congress of Environmental Resource Economics (WCERE), International Real Options Conference, Vienna Workshop on Optimal Control and Dynamic Games, International Industrial Organization Conference (IIOC), Supply Chain Finance & Risk Management Workshop, Fordham University, Rutgers (Resource Economics), Fifth Conference on the Iranian Economy, Vienna University, Vienna University of Economics
  • 2017: International Energy Workshop (IEW), European Environmental and Resource Economics (EAERE), Institut Mines Telecom, University Quebec Montral (UQAM), Cal Poly, Rutgers, Baruch (CUNY), Vienna University
  • 2016: International Water Resource Economics Conference, International Energy Workshop (IEW), European Environmental and Resource Economics (EAERE)
  • 2015: Rutgers, European Environmental and Resource Economics, HEC Paris, International Energy Workshop, UC Davis, UC Berkeley Bioeconomy Conference
  • 2014: Financial Management Association (FMA), World Congress of Environmental and Resource Economics (WCERE)

Revewer: Management Science, Production and Operations Management, Nature Energy, Review of Finance, Scandinavian Journal of Economics, Empirical Economics, Economics Letters, Energy, Energy Journal, Energy Economics, Energy Policy, ESAIM: Control, Optimization, and Calculus of Variations, Eastern Economic Journal, Structural Change and Economic Dynamics, Quarterly Review of Economics and Finance, Venture Capital: an International Journal of Entrepreneurial, Water Resources and Economics, Middle East Development Journal

Discussant Service in Conferences:

  • 4th Conference of the Iranian Economy, 2016
  • European Environmental and Resource Economics (EAERE2016)
  • World Congress of Environmental and Resource Economics (WCERE), 2014
  • European Environmental and Resource Economics (EAERE2012), “Complete Extraction Costs and the Optimal Exploitation of Two Non-Renewable Polluting Resources” 2012
  • Financial Management Association (FMA),“Infrastructure: Real Assets and Real Returns”, 2012
  • The European Winter Finance Summit (EWFS), “Strategic IPOs and Product Market Competition “, 2011
  • The European Winter Finance Summit (EWFS), “Hedging Policies, Incentives and Market Power”, 2010
Consulting Service
  • United Nations Development Program (UNDP)
  • United Nations Industrial Development Organization (UNIDO)
  • International Institute for Applied Systems Analysis (IIASA)
  • Various individual projects related to investment evaluation, and financial and economic policies (especially in resource-rich economies)
Honors & Awards

Semi-Finalist, Best Paper Award in Investment Category, Financial Management Association (FMA), 2012 

  • Assistant Professor of Finance, School of Business, Stevens Institute of Technology, 2013-


Grants, Contracts & Funds
  • USDA, EverGreen Project, Co-Investigator, 2016
  • Howe School Alliance for Technology Management (HSATM) Grant, 2013
  • MIT/BP Biofuels Grant, Co-Developer of the Grant Proposal, 2012
  • Full Scholarship, Vienna Graduate School of Finance, 2007-2011
  • Full Scholarship, Institute for Advanced Studies (IHS), 2005-2007
  • MGT 700 Econometrics
  • BT 321 Corporate Finance
  • QF 401 Senior Design Research Projects in Quantitative Finance I
  • QF 402 Senior Design Research Projects in Quantitative Finance II
  • FIN 620 Financial Econometrics
  • FIN 703 Microeconomic Theory