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Personal Website
Education
Ph.D., Economics, University of Illinois, 1988; B.A., Social Science (History, Philosophy, and Economics), University of North Texas, 1982.
Working Papers
"Surplus Maximization and Optimality," forthcoming in the American Economic Review.
"Radner's Cost-Benefit Analysis in the Small: An Equivalence Result."
"Excluding Bad Risks: Transactions Cost and Insurance Coverage Denials" (with H. Chade).
"Lionel McKenzie's 1957 Intrusion into 20th Century Demand Theory," (with M. A. Khan).
Academic Positions
Arizona State University: 1990-present. Visiting Professor: University of Michigan, IDEI (Toulouse). Visiting Scholar: CORE (Belgium) , Stanford University.
Career and Recent Professional Awards; Teaching Awards
Dean's Council of 100 Distinguished Scholar, W. P. Carey School, 2001-2009.
Huizingh Honors Professor of the Year, W.P. Carey School, 2010.
John W. Teets Teaching Excellence Award (Undergraduate), W. P. Carey School, ASU 2000.
Teaching Excellence Award (Graduate), W. P. Carey School, ASU, 1994.
Professional Leadership
Associate Editor, Geneva Papers on Risk and Insurance Theory.
Member, External Advisory Board, Department of Economics, University of Illinois.
Representative Publications
"Optimal Insurance with Adverse Selection," (with H. Chade), Theoretical Economics, 7 (2012): 571-607.
"Information and the Equity Premium," (with C. Gollier) Journal of the European Economic Association, 9 (2011): 871-902.
"Another Look at the Radner-Stiglitz Nonconcavity of the Value of Information," (with H. Chade) Journal of Economic Theory, 107 (2002): 421-452.
"The Value of Information in Efficient Risk Sharing Arrangements," American Economic Review , 91 (2001): 509-524.
"Comparative Statics Tests Between Decision Models Under Risk," (with M. Ormiston), Journal of Mathematical Economics, 32 (1999): 145-166.
"The Value of Information about Product Quality," RAND Journal of Economics, 27 (1996): 803-815.
"Strategic Information Manipulation in Duopolies," (with L. Mirman and L. Samuelson), Journal of Economic Theory, 62 (1994): 363-384.
"Marshall, Jevons, and the Expected Utility Hypothesis," History of Political Economy (HOPE), 24 (1992): 729-744. Reprinted in O. Hamouda, and JCR Rowley, eds, Expected Utility, Fair Gambles, and Rational Choice, 1997, ch. 12, pp. 200-218.
