Job MarketMy fellowship at Harvard ends in June of 2011 and I am thus on the market for permanent academic employment beginning that fall. On this page you will find all relevant information. Teaching FieldsGraduate and undergraduate: industrial organization, public finance, contract and price theory Undergraduate only: microeconomics, finance, law and economics, philosophy and economics, history of economic thought CVJob Market Paper"Materialistic Genius and Market Power: Uncovering the Best Innovations" with Jean Tirole, August 2010.
What is the best way to reward innovation? While prizes avoid deadweight loss, intellectual property screens out projects generating low consumer surplus per unit sold. We build a model that formalizes this trade-off and develop tools for solving the resulting multidimensional screening problem. Optimal policy generally calls for some market power but never full monopoly pricing. The appropriate degree of market power is determined by a value-weighted average of the innovation supply elasticity multiplied by the log-variance of innovation quality. This quantifies the value of the materialistic genius long associated with entrepreneurship, opening it to empirical calibration. Our results also apply to the pricing of platforms and public infrastructure.
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I am an Assistant Professor in the Department of Economics and in the College at the University of Chicago where I do research in economics and related fields, including philosophy and the history of economics.
