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Richard Lowery

Associate Professor

Department:     Finance

Additional Titles:     Associate Director

James Richard Lowery headshot

Richard Lowery is an associate professor of finance at The University of Texas at Austin’s McCombs School of Business. He has taught courses for undergraduate and MBA students on money and capital markets, financial markets and institutions, business finance, financial risk management, corporate finance theory, applied corporate finance, and corporate restricting.

Prior to joining McCombs, he worked as a professor of finance for Carnegie Mellon University’s Tepper School of Business, where he taught mathematics for economists and corporate finance theory for doctoral students.

In addition to teaching, Lowery is also an accomplished researcher in markets and finance. He has published multiple works on trade, pricing, market trends, banking, and other topics for top journals such as Management Science, the Journal of Finance, the Journal of Political Economy, and the Review of Corporate Finance Studies. His industry expertise has earned him invitations to attend and present his research at seminars for institutions such as Rice University, Cornell University, and the University of Rochester.

Lowery earned B.A. degrees in economics and classics from Amherst College. He went on to earn an M.S. and Ph.D. in economics from Carnegie Mellon University.


Expertise 1



CBA Research Excellence Award for Assistant Professors, The University of Texas at Austin McCombs School of Business


Alexander Henderson Award in Economic Theory, Carnegie Mellon University

John William Hatfield, Scott Duke Kominers, and Richard Lowery.
Collusion in Brokered Markets. Journal of Finance. Forthcoming.

Jordan M. Barry, John William HatfieldScott Duke Kominers, and Richard Lowery.  March 2023. Not from Concentrate: Collusion in Collaborative Industries. Iowa Law Review 108(3): 1089-1148.

John W. Hatfield, Scott Duke Kominers, Richard Lowery, and Jordan M. Barry. 2020. Collusion in Markets with Syndication. Journal of Political Economy 128(10), 3779-3819.

Vincent Glode and Richard Lowery. 2016. Compensating Financial Experts. Journal of Finance 71(6), 2781-2808.

Ari Kang, Richard Lowery, and Malcolm Wardlaw. 2015. The Costs of Closing Failed Banks: A Structural Estimation of Regulatory Incentives. Review of Financial Studies 28(4), 1060-1102.

Richard Lowery. 2014. Comment on: "Predatory Trading, Stigma, and the Fed's Term Auction Facility" by Jennifer La'o. Journal of Monetary Economics 65, 76-79.

John M Griffin and Richard Lowery. 2014. Complex Securities and Underwriter Reputation: Do Reputable Underwriters Produce Better Securities? Review of Financial Studies 27(10), 2872-2925.

Ari Kang and Richard Lowery. 2014. The Pricing of IPO Services and Issues: Theory and Estimation. Review of Corporate Finance Studies 2(2), 188-234.

Bruce Ian Carlin, Shimon Kogan, and Richard Lowery. 2013. Trading Complex Assets. Journal of Finance 68(5), 1937-1960.

Vincent Glode, Richard C. Green, and Richard Lowery. 2012. Financial Expertise as an Arms Race. Journal of Finance 67(5), 1723-1759.

Paul Healy, Sera Linardi, Richard Lowery, and John Ledyard. 2010. Prediction Markets: Alternative Mechanisms for Complex Environments with Few Traders. Management Science 56 (11), 1977-1996.