School of Humanities and Sciences
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Edward Ames Edmonds Professor in Economics and Senior Fellow at the Stanford Institute for Economic Policy Research
BioB. Douglas Bernheim is the Edward Ames Edmonds Professor of Economics in the Department of Economics at Stanford University, as well as Department Chair. After completing an A.B. in Economics from Harvard University and a Ph.D. from the Massachusetts Institute of Technology, he joined the Stanford faculty as an Assistant Professor in 1982. He moved to Northwestern University’s J. L. Kellogg Graduate School of Management in 1988, and to Princeton University in 1990, before returning to Stanford in 1994. His awards and honors include election as a fellow of the American Academy of Arts and Sciences, election as a fellow of the Econometric Society, a John Simon Guggenheim Memorial Foundation Fellowship, and an Alfred P. Sloan Foundation Research Fellowship.
Professor Bernheim’s work has spanned a variety of fields, including public economics, behavioral economics, game theory, contract theory, industrial organization, political economy, and financial economics. His notable contributions include the following: in the area of game theory, introducing and exploring the concepts of rationalizability (thereby helping to launch the field of epistemic game theory), coalition-proofness, and collective dynamic consistency (also known as renegotiation-proofness); in the area of incentive theory, introducing and exploring the concepts of common agency and menu auctions, and developing a theory of incomplete contracts; in the area of industrial organization, developing theories of multimarket contact and exclusive dealing; concerning social motives in economics, introducing and exploring the concept of strategic bequest motives, and developing theories of conformity, Veblen effects, and the equal division norm; developing and applying a framework for behavioral welfare economics; developing an economic theory of addictive behaviors; conducting the earliest economic analyses of financial education; and analyzing the conceptual foundations for Ricardian equivalence.
Professor Bernheim is a Research Associate of the National Bureau of Economic Research, a Senior Fellow of the Stanford Institute for Economic Policy Research (SIEPR), and Co-Director of SIEPR's Tax and Budget Policy Program. He has also served as the Director of the Stanford Institute for Theoretical Economics (SITE), and as Co-Editor of the American Economic Review. He is currently serving as Co-Editor of the Handbook of Behavioral Economics.
Tully Friedman Professor of Economics and Senior Fellow at the Hoover Institution and at the Stanford Institute for Economic Policy Research
BioMichael J. Boskin is Tully M. Friedman Professor of Economics and Senior Fellow, Hoover Institution, Stanford University. He is also Research Associate, National Bureau of Economic Research. He served as Chairman of the President’s Council of Economic Advisers (CEA) from 1989 to 1993. The independent Council for Excellence in Government rated Dr. Boskin’s CEA one of the five most respected agencies (out of one hundred) in the federal government. He chaired the highly influential blue-ribbon Commission on the Consumer Price Index, whose report has transformed the way government statistical agencies around the world measure inflation, GDP and productivity.
Advisor to governments and businesses globally, Dr. Boskin also serves on several corporate and philanthropic boards of directors. He is frequently sought as a public speaker on the economic outlook and evolving trends significant to business, national and international economic policy and the intersection of economics and geopolitics.
Dr. Boskin received his B.A. with highest honors and the Chancellor’s Award as outstanding undergraduate in 1967 from the University of California at Berkeley, where he also received his M.A. in 1968 and his Ph.D. in 1971, all in economics. In addition to Stanford and the University of California, he has taught at Harvard and Yale. He is the author of more than one hundred books and articles. He is internationally recognized for his research on world economic growth, tax and budget theory and policy, Social Security, U.S. saving and consumption patterns, and the implications of changing technology and demography on capital, labor, and product markets.
Dr. Boskin has received numerous professional awards and citations, including Stanford’s Distinguished Teaching Award in 1988, the National Association of Business Economists’ Abramson Award for outstanding research and their Distinguished Fellow Award, the Medal of the President of the Italian Republic in 1991 for his contributions to global economic understanding, and the 1998 Adam Smith Prize for outstanding contributions to economics.