Eugene Kandel

Eugene Kandel (born in 1959, Moscow) is an Israeli economist, the CEO of the Start-Up Nation Central, and an Emil Spyer Professor of Economics and Finance at the Hebrew University of Jerusalem.

Kandel has served as Chairman of Israel's National Economic Council since being appointed by Prime Minister Benjamin Netanyahu in 2009. He was asked to serve a second term after the end of his first four-year term in 2013.

Kandel is a member of the Center for the Study of Rationality at the Hebrew University, a Research Fellow of the Center for Economic Policy and Research in London, and a Fellow of the European Corporate Governance Institute. He is the founder of the Center for Financial Markets and Institutions, and of the MA program in Finance and Financial Economics, both at the Hebrew University.

Between 2009 and 2015 Kandel served as the Head of the National Economic Council in the Prime Minister's Office and the Economic Adviser to the Prime Minister, and played a central role in all the major decisions on economic policy. Prior to that he advised governments, corporations, financial institutions, and NGOs, served on the Israeli Antitrust Court and chaired investment committees of pension and provident funds in Israel.

Kandel holds a BA and an MA from the Hebrew University, and an MBA and a PhD from the Graduate School of Business at the University of Chicago. He is also the first son of Felix Kandel, writer of the animated series Nu, pogodi!. Kandel was actively involved in the 1997 redesign of the Nasdaq trading rules and served as Editor and Associate Editor of several leading Finance journals.

Kandel's primary area of academic expertise is Financial Markets and Financial Intermediaries. His research is published in the world leading Finance and Economics journals.

• Kandel, E. (2009), In Search of Reasonable Executive Compensation, CESIfo Economic Studies 55(3–4), 405–433.
• Kandel, E., Goldstein, M., Irvine, P. & Wiener, Z. (2009), Brokerage Commissions and Institutional Trades, Financial Studies 22 (12): 5175–5212.
• Kandel, E., Bondaryuk, A., Massa, M. & Simonov, A. (2008), Portfolio Diversification and the Decision to Go Public, The Review of Financial Studies 21(4), 2779–2824.
• Kandel, E., Guttman, I. & Kadan, O. (2006), A Rational Expectation Theory of Kinks in Financial Reporting, The Accounting Review 81(4), 811–848.
• Kandel, E., Foucault, T. & Kadan, O. (2005), Limit Order Book as a Market for Liquidity, The Review of Financial Studies 18(4), 1171–1217.
• Kandel, E. & Pearson, N. (2002), Option Value, Uncertainty and the Investment Decision, Journal of Financial and Quantitative Analyses 37(2), 341–374.
• Kandel, E. & Simhon, A. (2002), Between Search and Walras, The Journal of Labor Economics 20(1), 59–86
• Kandel, E. & Pearson, N. (2001), Flexibility vs. Commitment in Personnel Management, The Journal of Japanese and International Economics 15(4), 515–556.
• Kandel, E. & Zilberfarb, B. (1999), Differential Interpretation of Information in Inflation Forecasts, The Review of Economics and Statistics 81(2), 217–226.
• Kandel, E. & Mark, L. (1999), Payment for Order Flow on Nasdaq, Journal of Finance 54(1), 35–66.
• Kandel, E., Barclay, M., Christie, W., Harris, J. & Schultz, P. (1999), Effect of Market Reform on the Trading Cost and Depths of Nasdaq Stocks, Journal of Finance 54(1), 1–34.
• Kandel, E. & Mark, L. (1999), Odd Eighths Avoidance as a Defense Against SOES Bandits,, Journal of Financial Economics 51(1), 85–102.
• Kandel, E., Barclay, M. & Mark, L. (1998), The Effect of Transaction Costs on Stock Prices and Trading Volume, Journal of Financial Intermediation 7(1), 130150 (lead article).
• Kandel, E. & Mark, L. (1997), Nasdaq Market Structure and Spread Patterns, Journal of Financial Economics 45, 61–89.
• Kandel, E. (1996), The Right to Return, Journal of Law and Economics 39(1), 329–355.
• Kandel, E. & Pearson, N. (1995), Differential Interpretation of Information and Trade in Speculative markets, Journal of Political Economy 103(4), 831–872.
• Kandel, E. & Lazear, E. (1992), Peer Pressure and Partnerships, Journal of Political Economy 100(4), 801–817.
• Kandel, E. (2003), Reprinted in the Personnel Economics volume of The International Library of Critical Writings in Economics, ed. Mark Blaug, Edward Edgar Publishing, 2003; Reprinted in The Economics of Modern Business Enterprise, volume (ed. Martin Ricketts), of The International Library of Critical Writings in Economics, series editor Mark Blaug 2007