Robert P Bartlett

About

Robert P Bartlett is the William A. Franke Professor of Law and Business at Stanford University. He is also a Senior Fellow at the Stanford Institute for Economic Policy Research and holds a courtesy appointment as a Professor of Finance at the Stanford Graduate School of Business. His roles indicate a focus on the intersection of law, business, and economic policy, contributing to academic leadership and research in these areas.

Research topics

• Computer Science
• Political Science
• Artificial Intelligence
• Medical education
• Applied psychology
• Psychology
• World Wide Web
• Medicine

Selected publications

• The Market Inside the Market: Odd-Lot Quotes

  Review of Financial Studies · 2023-09-15 · 18 citations

  article1st author

  Abstract We show current market practices relating to odd-lot quotes create a large “inside” market where better prices routinely exist relative to the National Best Bid or Offer. We show that odd-lot quotes play a price discovery role, and these quotes provide valuable information to traders with access to proprietary data feeds. Using a XGBoost machine learning algorithm that uses odd-lot data to predict future prices, we demonstrate a simple and profitable trading strategy. We argue the SEC’s…

  PublisherDOI

• Subsidizing Liquidity with Wider Ticks: Evidence from the Tick Size Pilot Study

  Journal of Empirical Legal Studies · 2020-05-22 · 16 citations

  article1st authorCorresponding

  Using data from the 2016–2018 Tick Size Pilot Study, we examine the efficacy of using wider tick sizes to subsidize market‐making in small capitalization stocks. We demonstrate that realized spreads decay quickly within the initial microseconds of a trade. The effect reduces the subsidy offered by wider tick sizes, particularly for non‐HFT market makers. The profit subsidy from wider tick sizes is also compromised by a significant shift in trading to “taker/maker” exchanges and to midpoint tradi…

  PublisherDOI

• Tiny trades, big questions: Fractional shares

  Journal of Financial Economics · 2024-05-28 · 13 citations

  articleOpen access1st author

  This paper investigates fractional share trading. We develop a latency-based method for identifying a large sample of fractional share trades. We find that high-priced stocks, meme stocks, IPOs, SPACs, and popular retail stocks exhibit considerable numbers of these tiny trades. We surmise that this reflects dollar-based order entry, with many tiny trades being fractional components of larger orders. We show that our fractional trade measure is predictive of future liquidity and volatility, sugge…

  PublisherDOI

• Red Teaming Large Language Models in Medicine: Real-World Insights on Model Behavior

  medRxiv (Cold Spring Harbor Laboratory) · 2024 · 9 citations

  0. Abstract Background The integration of large language models (LLMs) in healthcare offers immense opportunity to streamline healthcare tasks, but also carries risks such as response accuracy and bias perpetration. To address this, we conducted a red-teaming exercise to assess LLMs in healthcare and developed a dataset of clinically relevant scenarios for future teams to use. Methods We convened 80 multi-disciplinary experts to evaluate the performance of popular LLMs across multiple medical sc…

  PublisherOA PDFDOI

• The Misuse of Tobin’s q

  Berkley Law Scholarship Repository (University of California, Berkeley) · 2020-03-01 · 9 citations

  article1st authorCorresponding

  We examine the common and growing misuse of Tobin’s q as a proxy for firm value within the law and finance literatures. We trace the history of Tobin’s q, beginning with its original role as a mean-reverting construct that macroeconomists used to model investment policy. We document how the original version of q morphed into the simplified market-to-book ratio version that law and finance scholars regularly use today to examine regulatory policy, corporate governance, and other economic phenomen…

  Publisher

Frequent coauthors

• L. Nanis

  Stanford University

  6 shared

• Kenneth M. Sancier

  Menlo School

  6 shared

• Angel Sanjurjo

  6 shared

• F. A. Halden

  Fairfield Crystal Technology (United States)

  6 shared

• Paul J. Jorgensen

  SRI International

  5 shared

• V. Kapur

  5 shared

• P.R. Gage

  4 shared

• J. W. Fowler

  UNSW Sydney

  4 shared

Labs

• Vice Provost for Student AffairsPI

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