Michael Ormiston


Michael Ormiston is an Emeritus Professor in the W. P. Carey School of Business at Arizona State University. His research areas include microeconomic theory, economics of risk and uncertainty. He joined ASU in 1984, coming from Texas A&M University. He has been a referee for the National Science Foundation, and the journals International Economic Review, and Review of Economic Studies.


  • Ph.D. Economics, The Johns Hopkins University 1980
  • M.A. Economics, The Johns Hopkins University 1977
  • B.S. Mathematics, Michigan State University 1975

Research Interests

microeconomic theory, economics of risk and uncertainty

Current Projects

  • "Insurance Policy Transformations and Optimal Portfolio Choice"
  • "Taxation, Savings, and the Demand for Risky Assets"
  • "The Effect of Changes in the Demand Distribution on Optimal Inventories"


Representative Publications

  • Ormiston, M.B., Understanding Microeconomic: Partial Equilibrium Analysis, Pearson Custom Publishing, 2006, 2005.
  • "Mean-Variance Models and Investor Behavior," (with E. Schlee), Economic Journal, 111:4, October 2001, 849-861.
  • Comparative Statics Tests for Nonexpected Utility Models," (with E. Schlee) Journal of Mathematical Economics, 32:2, October 1999, 145-166.