Peter Ritchken, PhD, professor of banking and finance, is the Kenneth Walter Haber Professor of Finance. Questions are at the heart of Ritchken’s studies and teachings. What determines prices and volatility in capital markets? How do firms manage market risk, interest rate risk, credit risk and operational risk? Why should firms use derivatives? In his search for answers, his work includes asset pricing models, pricing interest rate and credit derivatives, modeling volatility, and studying banking regulation.
Ritchken is the author of several textbooks on derivatives. He has served on the editorial board of journals and has published extensively in the risk management and derivatives area in such journals as REVIEW OF FINANCIAL STUDIES, MANAGEMENT SCIENCE, JOURNAL OF FINANCE and MATHEMATICAL FINANCE. He has consulted with large investment banks and brokerage firms, and has conducted executive education programs in the United States, Europe, Asia and Australia. In addition, Ritchken is research scholar for the Research Department at the Federal Reserve Bank in Cleveland.
Ritchken is the founder and director of the Weatherhead School of Management Master of Science in Management-Finance (MSM-Finance) program. He teaches not only in the Weatherhead MBA, executive MBA, and MSM-Finance programs, but also in the PhD of Finance and Operations Research program. His courses include Risk Management; Derivatives; Fixed Income, Mortgage and Credit Markets; Mathematical Finance; Investment Management; Real Options; and Quantitative Finance.
Ritchken’s awards include the 2014 University Research Award, Weatherhead School of Management and the Weatherhead Excellence in Teaching Award, 2011. He joined the faculty at Case Western Reserve University in 1981 after completing his PhD at Case Western Reserve. He holds an MS from the University of Cape Town.Personal Website
PhD, Case Western Reserve University, 1981
MS, University of Cape Town, 1977
BS, University of Cape Town, 1974
BS, University of Cape Town, 1973
Interests and Courses
Fixed Income and Term Structure Models; Risk Management in Financial Markets; Contingent Claims Valuation; Real Options; Risk Management in Supply Chains; Credit Risk management, Capital Structture
Risk Management; Derivatives; Fixed Income, Mortgage and Credit Markets; Mathematical Finance; Investment Management; Real Options; Quantitative Finance.
Recent Courses and SyllabiCourse evaluation ratings (login required)
- Babich, V., Li, H., Ritchken, P. H., Wang, Y.
Contracting with Asymmetric Demand Information in Supply Chains (vol. 217, issue 2, pp. 333-341). European Journal of Operational Research.
- Haubrich, J., Pennacchi, G., Ritchken, P. H.
Inflation Expectations, Real Rates, and Risk Premia: Evidence from Inflation Swaps Review of Financial Studies .
- Ritchken, P. H., Berndt, A., Sun, Z., , .
On Correlation and Default Clustering in Credit Markets Review of Financial Studies .
- Ritchken, P. H.
On Correlation Effects and Systemic Risk in Credit Markets (vol. 23, issue 1, pp. 2680-2729). Review of Financial Studies .
- Ritchken, P. H., Duan, J., Sun, Z.
Approximating GARCH-Jump models, Jump Diffusion Processes and Option Pricing (pp. 21-52). Mathematical Finance.
- Ritchken, P. H., Krishnan, C., Thomson, J.
On Forecasting Credit Spreads Journal of Financial Intermediation .
Academic and Professional Activities
- Faculty Advisor, GARP Faculty Director , 2010 - Present
- University Research Award , WSOM . (2014).
- WSOM Teaching Excellence Award, WSOM. (2011).