Stefano Giglio Researchers Propose New Method to Hedge against the Risk of Climate Disaster Stefano Giglio, Bryan T. Kelly October 29, 2019 Markets could be a huge part of mitigating climate risk. A proposal from Yale finance faculty seeks to make that a reality. How Do Investors Respond to Uncertainty? Stefano Giglio March 02, 2018 Conventional wisdom says that uncertainty is bad for markets. But Yale SOM’s Stefano Giglio and his co-authors found that investors are willing to pay a premium to protect themselves only against actual market volatility, not mere uncertainty.