Faculty Directory

Milena Wittwer

Assistant Professor




Milena Wittwer is an Assistant Professor of Finance at Boston College’s Carroll School of Management. Her primary research interests lie at the intersection of finance, market design, and industrial organization. In her current work, she assesses how well different types of financial markets function and draws inferences for policy reforms, using theoretic and empirical tools. Milena received one Ph.D. in Economics from Stanford University and another from the European University Institute. In addition, she holds B.S. and M.S. degrees in Economics from Humboldt University and the University of Bonn.


  • Wittwer, M. (2021) "Connecting Disconnected Financial Markets." American Economic Journal. Microeconomics, volume 31, February 2021, pages 252-282
  • Wittwer, M. (2020) "Interconnected Pay-as-Bid Auctions." Games and Economic Behavior, volume 121, May 2020, pages 506-530

Working Papers

  • Allen, J., Wittwer, M. (2021) Centralizing Over-the-Counter Markets?
  • Allen, J., Kastl, J., Wittwer, M. (2021) Interconnected Multi-Unit Auctions
  • Allen, J., Wittwer, M. (2021) Intermediary Asset Pricing: Capital Constraints and Market Power
  • Kutai, A., Nathan, D., and Wittwer, M. (2021) Exchanges for Government Bonds? Evidence during COVID-19

Selected Appointments and Awards

  • 2020-2021: Bradley Research Fellow, SIEPR
  • 2017-2020: Fellowship of Stanford’s Economics Department
  • 2008-2014: Scholarship of the German National Academic Foundation