I am the MBA Class of 1963 Professor of Economics at the Stanford Graduate School of Business. I started at Stanford in 1982 after earning a BA in Economics and Applied Mathematics from Brown University in 1977, and a PhD in economics from Yale in 1982. I have a courtesy appointment in the Stanford Economics Department.
ResearchI work primarily in two research areas: industrial organization, which studies the economics of firms and markets; and econometrics, which uses statistics and economics to analyze economic data. My research has appeared in leading economics, finance, marketing, accounting and other business journals, including the: Journal of Political Economy, American Economic Review, Review of Economic Studies, Rand Journal, Journal of Econometrics, Journal of Finance, Review of Financial Studies, and Marketing Science.
My research has studied firm competition, firm turnover, venture formation and financing, business models, pricing, the productivity of R&D, stsecurity trading, and corporate governance. Markets of interest include technology, airline, financial, energy, automotive, and oil and gas. My applied econometric work has examined model comparison procedures, outliers, model specification tests, regression models, discrete choice models, simultaneous equations models and nonparametric models. Among other projects, I am currently working on a book describing how economists use data to answer economic questions.
TeachingMy MBA teaching is currently is in entrepreneurship, where I teach Creating and Managing Early Stage Ventures and the Startup Ideas Workshop. I also teach econometrics at the PhD level. I have taught executive education classes in entrepreneurship, innovation, Big Data, and strategy.
Other Professional ActivitiesI am a past Co-Director of the Center Entrepreneurial Studies, Director of the Program In Innovation and Entrepreneurship, and the Summer Institute for Entrepreneurship. I have benefitted from Alfred P. Sloan (1989), NBER/Olin(1987) and Center for Advanced Study in the Behavioral Sciences (2012) Fellowships. I have served as an editor of the Brookings Papers in Microeconomics and Quantitative Marketing and Economics. I also have served as an associated editor for many journals and the National Science Foundation's Economics Program Review Panel.
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