Arya Gadage

Pre Doctoral Research Fellow

Program for Economic Research, Columbia University

Hello :) I currently work as a Pre Doctoral Research Fellow in the Program for Economic Research (PER) at Columbia University.

My current work is in applied microeconomics and econometrics under the guidance of Dr. Michael Carlos Best and Dr. Haoge Chang.

I hold a BS in Mathematics and a BA in German from the University of Massachusetts Amherst.

My research interests include optimization, public economics, finance, and decision theory.

Research

Work I've contributed to through academic endeavors — from term papers and honors projects to research assistantships and personal explorations.

A New Regime for Fixed Income? What Could This Mean for Alternative Investments?
With Ahmed Aleid, Gabriel Odok Jr., Gabriella Pagnini, Ha Pham.
Faculty mentors: Dr. Mila Getmansky-Sherman (UMass Amherst), Dr. Kathryn Kaminski (MIT / AlphaSimplex). University of Massachusetts Amherst, 2023.

PDF

Abstract

Examines whether fixed income markets have entered a new regime and the implications of such a shift for alternative investment strategies including hedge funds and managed futures.
Case Study: AI Ethics in Healthcare Insurance
With Gabriella Pagnini, Ruchi Shah.
Faculty mentors: Dr. Scott Auerbach, Dr. Mila Getmansky-Sherman, Dr. Jennifer Merton (UMass Amherst). 2024.

In progress — written as course material for iCons 189H, Fall 2025.

PDF

Abstract

A case study exploring the ethical dimensions of AI deployment in healthcare insurance, examining algorithmic bias, fairness criteria, and regulatory implications.
Generative Equity Returns
With Courtney Harvey, Madeline Peckham.
Faculty mentor: Dr. Markos Katsoulakis (UMass Amherst). 2024.

In progress.

PDF

Abstract

Develops generative models for simulating equity return distributions, leveraging score-based diffusion methods to capture non-Gaussian dynamics and tail behavior.
Investigating the Influence of an Educational Intervention for Bridging Distinct Student Communities in an iCons Class
Faculty mentor: Dr. Scott Auerbach (UMass Amherst). iCons Program, University of Massachusetts Amherst. 2024.

In progress.

Supplemental Instructor
Learning Resource Center, University of Massachusetts Amherst

A personal library of papers, lectures, and books I've worked through, with notes and summaries.

IEOR E4407 — Game Theory Models of Operation
Auditing at Columbia University, taught by Dr. Jay Sethuraman. [notes]
A Quant's Perspective on the 2008 Financial Crisis
SIG's Doug Costa on the mathematical anatomy of the crisis — Gaussian Copula, correlation smile, and related topics. [notes]

Revealed Preference Theory — Chp. 3 (Rational Demand) & Chp. 7 (Stochastic Choices)
Mathematical models capturing consumer preferences revealed through behavior. [notes]