MICHAEL ROTHSCHILD

Born August 2, 1942
U.S. Citizen

EDUCATION

Massachusetts Institute of Technology, Ph.D., 1969 (Economics)
Yale University, M.A. 1965 (International Relations)
Reed College, B.A. 1963 (Anthropology)

PROFESSIONAL HISTORY

• Dean, Woodrow Wilson School, Princeton University, 1995-present
  
• Professor of Economics and Public Affairs, Princeton University, 1995-present
  
• Dean, Division of Social Science, University of California, San Diego, 1985-1995
  
• Professor of Economics, University of California, San Diego, 1983-1995
  
• Professor of Economics, University of Wisconsin - Madison, 1976-1984
  
• Professor of Economics, Princeton University, 1975-1976
  
• Associate Professor of Economics, Princeton University, 1974-1975
  
• Lecturer in Economics, Princeton University, 1972-1974
  
• Assistant Professor of Economics, Harvard University, 1969-1973
  
• Instructor in Economics, Boston College, 1968-1969

PROFESSIONAL ACTIVITIES

• Chair, Panel on Estimation Procedures National Research Council Committee on National Needs for Biomedical and Behavioral Research Personnel, 1993-present
  
• Member, National Research Council Committee on the General Ability Test Battery, 1987-89
  
• Member, Nominating Committee, American Economic Association, 1987-88
  
• Member, Board of Editors, Journal of Economic Literature 1981-83
  
• Research Associate, National Bureau of Economic Research, 1980-present
  
• Member, Committee to Choose Sloan Fellows in Basic Research, 1980-84
  
• Member, Program Committee World Congress of the Econometric Society, 1980
  
• Member, Council of the Econometric Society, 1979-84
  
• Member, NSF Advisory Panel for Economics, 1975-77
  
• Member, NIH Task Force on Economic Impact of Preventive Medicine, 1974-75
  
• Organizer, NSF-NBER Seminars: on Uncertainty, 1973; on Decentralization, 1975
  
• Co-chairman, NSF-NBER Seminar on Decision Rules and Uncertainty, 1973-80
  
• Associate Editor, Journal of Economic Theory, 1973-86
  
• Associate Editor, Econometrica, 1970-73, 1979-85

HONORS, AWARDS AND GRANTS

• Fellow American Academy of Arts and Sciences, 1994
  
• Oskar Morgenstern Distinguished Fellow, Mathematica, 1981-82
  
• Guggenheim Fellowship, 1978-79
  
• Romnes Faculty Fellow, University of Wisconsin, 1977
  
• Fellow of the Econometric Society, December 1974
  
• National Science Foundation Research Grants, 1970-89

INVITED ADDRESSES

• Geneva Lecture, University of Hanover, Germany, September 1996
  
• Econometric Society, Sydney, August 1984
  
• Econometric Society, World Congress, Toronto, August 1975
  
• Symposium on Adaptive Economics, Madison, October 1974
  
• Econometric Society, New Orleans, December 1971

PUBLICATIONS

1. "Some Simple Analytics of the Pricing of Higher Education," September 1992 [with Lawrence J. White]. Journal of Political Economy, Volume III, June 1995 (pp. 573-586).

2. "Search." in Handbook of Game Theory, Volume II, edited by R.J. Aumann and S. Hart, [with J. McMillan]. Chapter 27, pp. 905-927. Elsevier, 1994.

3. "Preface and Introduction." in Studies of Supply and Demand in Higher Education, edited by Charles T. Clotfelter and Michael Rothschild. University of Chicago Press, Chicago, March 1993 [with C. Clotfelter].

4. "The University in the Marketplace: Some Insights and Some Puzzles." in Studies of Supply and Demand in Higher Education, edited by Charles T. Clotfelter and Michael Rothschild. University of Chicago Press, Chicago, March 1993 [with C. Clotfelter].

5. "Comment on 'The Output of the Education Sector,' by Dale. W. Jorgenson and Barbara Fraumeni" (pp. 339-341) in Output Measurement in the Service Sectors, edited by Zvi Griliches. University of Chicago Press, Chicago, 1992.

6. "Arch Models in Finance." special issue of Journal of Econometrics Vol. 52, April-May 1992, Edited by R. Engle and M. Rothschild.

7. "Introduction" Journal of Econometrics , Vol. 52 (pp. 1-4), April-May 1992, [with R. Engle].

8. "Comment on 'The Net Effect of Tax-Deferred Retirement Accounts: Evidence from SIPP,' by Stephen P. Venti and David Wise" (pp. 128-130) in National Saving and Economic Performance, edited by B. Douglas Bernheim and John B. Shoven. University of Chicago Press, Chicago, 1991.

9. "A Multi-Dynamic Factor Model for Stock Returns," Journal of Econometrics 1992 (52. 245-266) [with R. Engle and V. Ng].

10. "Monopolistic Competition and Preference Diversity." Review of Economic Studies 1992 (59:361-373), [with R. Deneckere].

11. "Asset Pricing with a Factor Arch Covariance Structure: Empirical Estimates for Treasury Bills" Journal of Econometrics, 1989 (45:213-237)[ with R. Engle and V. Ng].

12. Fairness in Employment Testing: Validity Generalization, Minority Issues and the General Aptitude Test Battery. J.A.Hartigan and A.A. Wigdor, eds. National Academy Press, Washington, D.C., 1989. (Member of the Committee which wrote this report of the National Research Council; principal author, with J. Hartigan, of Chapter 12, "Evaluation of Economic Claims," pp. 235 - 248)

13. "Stochastic Capital Theory," pp. 591-622 in John Robinson and Modern Economic Theory, edited by G. Feiwel. MacMillan Press, 1989 [with W.A. Brock and J.E. Stiglitz].

14. "Comment on 'Annuity Markets, Savings, and the Capital Stock' by Kotlikoff, Shoven, and Spivak," pp. 234-236 in Issues in Pension Economics, edited by Z. Bodie, J.B. Shoven, and D.A. Wise. University of Chicago Press, Chicago, 1987.

15. "Risk," in Eatwell, Milgate, and Newman (eds.), The New Palgrave: A Dictionary of Economics, Macmillan 1987 (4:201-206) [with M. Machina].

16. "Variable Earnings and Nonlinear Taxation," Journal of Human Resources, 1987 (22:405-421) [with R. Moffitt].

17. "Notes on the Effect of Capital Gains Taxation on Non-Austrian Assets," pp. 309-334 in Economic Policy in Theory and Practice, edited by A. Razin and E. Sadka, MacMillan, 1987 [with D.J. Kovenock].

18. "Asset Pricing Theories," pp. 97-128 in Essays in Honor of Kenneth J Arrow: Uncertainty, Information and Communication, edited by W.P. Heller, R.M. Starr, and D.A. Starrett. Cambridge University Press, 1986.

19. "Comparative Statics for Multidimensional Optimal Stopping Problems," pp. 124-138 in Models of Economic Dynamics, edited by Hugo F. Sonnenschein, Spring Verlag, Lecture Notes in Economics and Mathematical Systems, Vol. 214, 1986 [with W.A. Brock].

20. "Information Processing and Jury Decision-Making," Journal of Public Economics, 1984 (23:245-278) [with A. Klevorick and C. Winship].

21. "Arbitrage, Factor Structure, and Mean-Variance Analysis on Large Asset Markets," Econometrica, 1983 (1281-1304) [with G.S. Chamberlain].

22. "The Impact of Divestiture on the Cost of Capital to the Bell System," pp. 157-189 in D.S. Evans, et. al., Breaking Up Bell. Essays on Industrial Organization and Regulation, 1983 [with David S. Evans].

23. "Capital Gains Taxation in an Economy with an Austrian Sector," Journal of Public Economics, 1983 (21:215-256) [with D.J. Kovenock].

24. "Interest Rate Futures Markets, Interest Rate Variability and the Demand for Investment," pp. 107-123 in Recent Developments in Futures Trading, edited by Manfred Streit. Blackwells, Oxford 1982 [with David Levhari].

25. "Simple Capital Theory," UMAP Module #611, November 1982.

26. "A Model of Employment Outcomes Illustrating the Effect of the Structure of Information on the Level and Distribution of Income," Economics Letters, 1982 (10:231-236) [with J.E. Stiglitz].

27. "A Note on Partially Observed Markov Systems," Economics Letters, 1982 (10:207-209).

28. "Title VII and the Use of Employment Tests: An Illustration of the Limits of the Judicial Process," Journal of Legal Studies, 1982 (11:261-280) [with G.J. Werden].

29. "A Note on the Probability of Casting a Decisive Vote," Journal of Economic Theory, August 1981 (25:152-162) [with G. Chamberlain].

30. "A Model of the Jury Decision Process," Journal of Legal Studies, January 1979 (8:141-164) [with A.K. Klevorick].

31. "Returns to Scale from Random Factor Services: "Existence and Scope," Bell Journal of Economics, 1979 (10:329-335) [with G.J. Werden].

32. Uncertainty in Economics: Readings and Exercises. Academic Press, 1978 (revised edition 1989) [with P.A. Diamond].

33. "Recent Work on Equilibrium and Expectations Under Uncertainty," in Systems Dynamiques et Modeles Economiques, Colloques Internationalaux du DCNRS, No. 259, 1977.

34. "Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information," Quarterly Journal of Economics, November 1976 (90:629-649) [with J.E. Stiglitz].

35. "Further Notes on the Allocation of Effort," in Adaptive Economic Models, edited by R.H. Day and T. Groves. Academic Press, 1976.

36. "On the Allocation of Effort," Journal of Economic Theory, June 1975 (10:358-376) [with R. Radner].

37. "Convergence of the Age Structure: Applications of the Projective Metric," Theoretical Population Biology, February 1975 (7:84-93) [with M. Golubitsky and E. Keeler].

38. "Searching for the Lowest Price when the Distribution of Prices is Unknown," Journal of Political Economy, July-August 1973 (82:689-712).

39. "A Two-Armed Bandit Theory of Market Pricing," Journal of Economic Theory, October 1974 (9:185-202).

40. "Models of Market Organization with Imperfect Information: A Survey," Journal of Political Economy, November-December 1972 (81:1283-1308).

41. "Towards an Economic Theory of Replacement Investment," Econometrica, May 1974 (42:221-237) [with M.S. Feldstein].

42. "Some Further Results on the Measurement of Inequality," Journal of Economic Theory, April 1973 (6:188-204) [with J.E . Stiglitz].

43. Mathematical Appendix to "Changing Tolerance for Income Inequality in the Course of Economic Development," by A.O. Hirschman, Quarterly Journal of Economics, November 1973 (87:562-566).

44. "Testing the Assumptions of Production Theory: A Non-Parametric Approach," Journal of Political Economy, March-April 1972 (75:280-299) [with Giora Hanoch].

45. "On the Cost of Adjustment," Quarterly Journal of Economics, November 1971 (85:605-622).

46. "Increasing Risk: II. Its Economics Consequences," Journal of Economic Theory, March 1971 (3:66-84) [with J.E. Stiglitz].

47. "Increasing Risk: I. A Definition," Journal of Economic Theory, September 1970 (2:255-243) [with J.E. Stiglitz].