Economics

The economics academic area includes faculty that study a broad range of topics in their discipline, including economic theory, industrial organization, labor economics, macroeconomics, econometrics, environmental economics, and international trade.

The economic faculty bring ideas from economic research (both their own and those from the broader community of economic scholars) to the classroom.

The group teaches principles of economics and statistics in managerial foundations classes, as well as applications of economics in classes on strategy, public policy, human resource management, global management, and other topics.

The rigorous application of economic principles permeates the MBA, Stanford MSx, and Executive Education curricula. The economics area extends its impact beyond Stanford by publishing, by educating PhD students, and by influencing public policy.

Recent Journal Articles in Economics

Daron Acemoglu, Ufuk Akcigit, Harun Alp, Nicholas A. Bloom, William Kerr
American Economic Review. November
2018, Vol. 108, Issue 11, Pages 3450-3491

We build a model of firm-level innovation, productivity growth, and reallocation featuring endogenous entry and exit. A new and central economic force is the selection between high- and low-type firms,...

Charles I. Jones, Jihee Kim
Journal of Political Economy. October
2018, Vol. 126, Issue 5, Pages 1785-1826

Top income inequality rose sharply in the United States over the last 40 years but increased only slightly in France and Japan. Why? We explore a model in which heterogeneous...

James Liang, Hui Wang, Edward Lazear
Journal of Political Economy. October
2018, Vol. 126, Issue S1, Pages S140-S196

Entrepreneurship requires energy and creativity as well as business acumen. Some factors that contribute to entrepreneurship decline with age, but business skills increase with experience in high-level positions. Having too...

Journal Article|
James Heckman, Edward Lazear, Kevin Murphy
Journal of Political Economy. October
2018, Vol. 126, Issue S1, Pages S1-S6

The article focuses on the life and works of American economist and social scientist Gary Becker, who believed that economics could and should tackle serious social problems. According to the...

Alain C. Enthoven, Laurence Baker
Health Affars. September
2018, Vol. 37, Issue 9, Pages 1425-1430

Managed competition is a concept that was bom in California and has achieved a measure of acceptance there. As California and the United States as a whole continue to struggle...

Guido W. Imbens
Social Science & Medicine. August
2018, Vol. 210, Pages 50-52

Deaton and Cartwright (2018) view the increasing popularity of randomized experiments in social sciences with some skepticism. They are concerned about the quality of the inferences in practice, and fear that...

Rachel Baker, Eric Bettinger, Brian Jacob, Ioana Marinescu
Economics of Education Review. August
2018, Vol. 65, Pages 18-30

An important goal of community colleges is to prepare students for the labor market. But are students aware of the labor market outcomes in different majors? And how much do...

Journal Article|
Saumitra Jha
Economic Policy. August
2018, Vol. 33, Issue 95, Pages 485-526

I examine the conditions under which trade can support peaceful coexistence and prosperity when particular social and ethnic groups are cheap targets of violence. A simple theoretical framework reveals that...

Michael Dinerstein, Liran Einav, Jonathan Levin, Neel Sundaresan
American Economic Review. July
2018, Vol. 108, Issue 7, Pages 1820-1859

The platform design, the process that helps potential buyers on the internet navigate toward products they may purchase, plays a critical role in reducing search frictions and determining market outcomes....

Mohammad Akbarpour, Matthew Jackson
Proceedings of the National Academy of Sciences of the United States of America. July
2018, Vol. 115, Issue 30, Pages E6996-E7004

Whether an idea, information, or infection diffuses throughout a society depends not only on the structure of the network of interactions, but also on the timing of those interactions. People...