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Xavier Gabaix (on leave starting Sept. 1, 2016)

Xavier Gabaix (on leave starting Sept. 1, 2016)

Joined Stern 2007

Leonard N. Stern School of Business
Kaufman Management Center
44 West Fourth Street, KMC 9-84
New York, NY 10012

Personal website

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Xavier Gabaix joined New York University Stern School of Business as an Associate Professor of Finance in September 2007. He is on leave starting September 1, 2016. Before joining NYU Stern, Professor Gabaix was an Associate Professor of Economics at the Massachusetts Institute of Technology.

Professor Gabaix's research interests focus on asset pricing, executive pay, the causes and consequences of seemingly irrational behavior, the origins scaling laws in economics, and macroeconomics. His research has been published in many journals including the Journal of Finance, American Economic Review, Quarterly Journal of Economics and Nature.

Professor Gabaix is also a Fellow of the National Bureau of Economic Research. He earned his M.A. in mathematics from the Ecole Normale Superieure in Paris, France, and his Ph.D. in Economics from Harvard University.

Academic Background

B.A., Mathematics
École Normale Supérieure

Ph.D., Economics
Harvard University

Awards & Appointments

Fischer Black Prize 2011
Certificate of Excellence TIAA-CREF Paul A. Samuelson Award 2011
Financial Research Association Conference Best Paper Award 2009
Glucksman Institute research prize, NYU First place 2009
Glucksman Institute research prize, NYU Second place 2008

Selected Publications

Gabaix, Xavier and Augustin Landier (2008)
Why Has CEO Pay Increased So Much?
Quarterly Journal of Economics, vol. 123(1), 2008, p. 49-100

Gabaix, Xavier, Arvind Krishnamurthy and Olivier Vigneron (2007)
Limits of Arbitrage: Theory and Evidence from the Mortgage-Backed Securities Market
Journal of Finance, vol. 62(2), April 2007, p. 557-595

Gabaix, Xavier and David Laibson (2006)
Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets
Quarterly Journal of Economics, vol. 121 (2), May 2006, p. 505-540.

Gabaix, Xavier, Parameswaran Gopikrishnan, Vasiliki Plerou, H. Eugene Stanley (2003)
A Theory of Power Law Distributions in Financial Market Fluctuations
Nature, 2003, vol. 423, p. 267-70

Gabaix, Xavier (1999)
Zipf's Law for Cities: An Explanation
Quarterly Journal of Economics, 114 (3), August 1999, p.739-67

Areas of Expertise


  • Macroeconomics
  • Volatility


  • Asset Management
  • Corporate Governance
  • Executive Pay
  • Fixed Income
  • Personal Finance
  • Psychology of Investors
  • Volatility Market


  • France