Steven Grenadier is the William F. Sharpe Professor of Financial Economics at the Stanford Graduate School of Business. He currently chairs the finance group at Stanford. He received his BS from the University of California at Berkeley and his PhD from Harvard University. His research focuses on applying option pricing theory to real investment analysis. Topics have included the impact of competition and private information on option exercise decisions, the underpinnings of real estate cycles, the analysis of lease contracts, and the modeling of investment decisions of those with time-inconsistent preferences. He is an Editor of the Journal of Real Estate Finance and Economics. He teaches courses in quantitative investment analysis. He is a consulting Financial Economist with Financial Engines, and a former director of Nicholas Applegate Institutional Funds, AQR Funds, and E*Trade Funds.