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Economics & Management

Economics & Management is designed to develop economists skilled in doing research on a broad variety of firm-related topics. The curriculum is appropriate for students interested in, for example, how relative firm performance is affected by dynamic strategic decisions. Economics and management faculty are actively engaged in theoretical and empirical research on these issues. Weekly economics and management seminars provide students with early access to novel research by both Simon School faculty and world-class speakers from other institutions. Students concentrating in Economics & Management anticipate employment in the business economics or strategy group at other top tier business schools.

Faculty and Research Interests

  • James A. Brickley: His interests include corporate control, compensation policy, corporate finance, franchising, and banking.
  • Paul Ellickson: His research interests lie at the intersection between quantitative marketing and industrial organization, with a focus on using structural modeling.
  • Andras Miklos: His research interests are in business ethics, corporate social responsibility, medical ethics and political philosophy.
  • Jeanine Miklós-Thal: Her research spans industrial organization, marketing, and personnel economics. She is particularly interested in cartel pricing, pricing strategies in intermediate-goods markets, the impact of various marketing strategies on consumer quality perceptions, and reputational incentives in labor markets.
  • Michael A. Raith: His interests include pricing strategies in the presence of market uncertainty, effects of financial constraints on the firm's behavior in product markets, performance evaluation in organizations, competition among firms, and optimal compensation policies and organizational structure within firms.
  • Heikki Rantakari: His research interests are in: Organizational Economics, Information Economics, Contract Theory 
  • Ronald Schmidt: His research interests are in economics, statistics, marketing, organizations and corporate strategy.
  • Greg Shaffer: His research employs game theoretic models to examine pricing-related issues in IO and antitrust economics. His specialty is in the area of vertical restraints, including exclusive dealing, bundling, slotting allowances, market-share based contracts and resale price maintenance.
  • Gerard J. Wedig: He applies corporate finance, governance, and organizational economics to study issues in the healthcare industry.

Recent Research in Economics & Management

What is the Cost of Compromise?

Heikki Rantakari

When it comes to group decision making, which kind of structure works best? Simon professor Heikki Rantakari, with Alessandro Bonatti of Sloan School of Management at Massachusetts Institute of Technology, explores the effects of consensus decision making on group performance in “The Politics of Compromise.” The paper was published in American Economic Review.

 

Colluding Through Suppliers

Jeanine Miklós-Thal

In a new study, Assistant Professor Jeanine Miklós-Thal shows that retailers can collude more easily on the prices consumers pay by also agreeing among them to pay above-cost wholesale prices and slotting fees to their suppliers. “Colluding Through Suppliers” is the first to look at collusion on wholesale prices as a method to facilitate collusion on output prices.

 

Understanding Incentive

Jeanine Miklós-Thal

Jeanine Miklós-Thal and co-author Hannes Ullrich were looking for a way to test whether future career prospects affect current effort incentives when they hit upon the perfect testing ground: European soccer. “Soccer is a nice way to test these incentives,” says Miklós-Thal, assistant professor of economics and marketing at the Simon School. “You need an environment where some people have a chance to be promoted and others do not. You can’t test the same thing in a business environment.” Read more about Understanding Incentive.

 
 
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