Steven L. Heston
Steven L. Heston
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Steven L. Heston

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Steven L. Heston

Steven "Steve" L. Heston is an American mathematician, economist, and financier. He's also prominently active in the field of gambling-related research, where he sometimes uses the pen name Kim Lee.

Heston studied Mathematics and Economics at the University of Maryland, where he obtained his B.S. In 1985, he completed his M.B.A. studies in Industrial Administration at the Carnegie Mellon University's Graduate School of Industrial Administration. From the same university, Carnegie Mellon, in 1987, he received his M.S. in Finance and in 1990 his Ph.D.

Heston was at the Yale School of Organization and Management from 1989 until 1993, a Visiting Assistant Professor of Finance at the Columbia Business School until 1994, and Assistant Professor of Finance at the Washington University in St. Louis until 1998.

Heston is currently, and since 2002, Professor of Finance at Robert H. Smith School of Business at University of Maryland, College Park.

Heston is known for analyzing options with stochastic volatility.

From 1998 to 2002, Heston worked as Vice President of U.S. Arbitrage and also of Quantitative Equities, in Goldman Sachs, New York.

Heston is the originator of the eponymous Heston model, a mathematical formulation describing the evolution of an underlying asset's volatility.

Heston, under his own name or the pen name "Kim Lee," has written extensively on issues related to the games of poker and casino blackjack, and gambling-related issues, in general. He is also active in online message boards on issues related to the mathematics of gambling.

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