Teaching
Courses in the Olin Business School at Washington University in St. Louis
My teaching begins with a careful consideration of the topics and specific content. Each piece of content must have some specific use or application. Each is presented in a way that concentrates on the essential ingredients making up the concept, and how they work together to produce the concept. Finally I discuss a variety of applications that illustrate the power of the idea to inform one’s thinking and expand it.
Research
Center for Research in Economics and Strategy (CRES)
The way CRES is structured is the embodiment of Subversion, Minimalism, and Action. It promotes change and growth by only supporting research and research-related activities that are novel and changing the way we explore the edge of knowledge about economic activity. It also focuses on the sort of elegant and insightful projects that are most likely to find their way to top tier journals, and so have maximum impact on the economics profession. CRES is run like a venture capital company. There are no long term plans, bureaucracy, or application procedures, and minimal staff. We are constantly on the lookout for interesting new research that CRES can support and advance.
Projects and Publications
- "Leadership and Monetary Incentives"
- "Some Economics of Novelty"
- "Industry Evolution with Producer and Consumer Network Externalities" with Emin Dinlersoz
- "Innovation Incentives" with Nina Baranchuk and Jun Yang
- "Do new entrants sustain, destroy or create guaranteed profitability?" Strategic Management Journal, with M. Ryall, 2018
- "The Economics of super managers" Review of Financial Studies, with N. Baranchuk, J. Yang, 2011
- "Legal Institutions, Sectoral Heterogeneity, and Economic Development" Review of Economic Studies, 529-561, with R. Castro, G. Clementi, 2009
- "How do value creation and competition determine whether a firm appropriates value?" Management Science, 1319-1333, with M. Ryall, 2004
- "Investor Protection, optimal incentives and economic growth" Quarterly Journal of Economics, with R. Castro, G. Clementi, 2004
- "The economics of has-beens" Journal of Political Economy, S289-S310, with M. Weisbach, 2004
- "Adverse Specialization" Journal of Political Economy, 864-899, with L. Marx, 2001
- "Competitive Diffusion" Journal of Political Economy, with B. Jovanovic, 1994
- "The life cycle of a competitive industry" Journal of Political Economy, 322-347, with B. Jovanovic, 1994
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