Richard Lyons is Associate Vice Chancellor and Chief Innovation & Entrepreneurship Officer, and former Dean of Berkeley Haas. He worked on exchange rates, but from a "micro" perspective rather than the traditional "macro" perspective. The micro approach uses data on transactions in currency markets to address how this market absorbs new information. It is both "information theoretic" and quite applied in that it addresses the phenomenon (price determination) at its source. His most recent work in this area is on stablecoins, which are cryptocurrencies pegged to other currencies like the US dollar or hard assets like gold. He is also writing more now on innovation and how cultures of innovation can be developed in companies and in geographic regions.