STANFORD GRADUATE SCHOOL OF BUSINESS – Recent books by faculty at the Stanford Graduate School of Business include the selected works of Nobel laureate William Sharpe, a look at communication across academic disciplines by Myra Strober, and two books on human “bounded rationality” in politics by Jonathan Bendor. A book on corporate governance is due out soon by David Larcker.
Sharpe, the STANCO 25 Professor of Finance, Emeritus, shared the 1990 Nobel Memorial Prize in Economic Sciences for his contributions to the theory of price formation for financial assets, especially his “capital assets pricing model.” He is editor of William F. Sharpe: Selected Works, which collects his related work.
Strober, an economist who is a professor emerita of education and also teaches in the business school, explores under-recognized impediments to cross-disciplinary studies in academia in her book Interdisciplinary Conversations: Challenging Habits of Thought. While she believes that interdisciplinary work can increase the pace at which knowledge is created, she writes that the academic reward system and the way experts are trained in disciplines make it difficult to learn to talk to peers from other areas. “Unless participants are open minded and dialogues well structured, the conversations can be boring, confusing, unpleasant, or downright hurtful.”
Bendor in Bounded Rationality and Politics explores several schools of behavioral economics. One focuses on the mistakes in judgment people make, another emphasizes the effectiveness of simple rules of thumb, and a third emphasizes the interplay between the cognitive constraints of decision makers and the complexity of their tasks. Bendor, who is the Walter and Elise Haas Professor of Political Economics and Organizations, also coauthored another book, A Behavioral Theory of Elections, which explores why individuals choose to vote even when there is a greater chance of their being in an accident on the way to the polls than of their single vote affecting the outcome of an election. His coauthors are former GSB professor Daniel Diermeier and two GSB alumni, David A. Siegel, PhD ’06, and Michael M. Ting, PhD ’99.
Larcker and Brian Tayan, MBA ’03, have written Corporate Governance Matters, an up-to-date reference book on corporate governance issues for board members, officers, and other stakeholders of companies. Larcker, the James Irvin Miller Professor of Accounting, directs Stanford’s Corporate Governance Research Program.
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