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

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...

Nicolas S. Lambert, Michael Ostrovsky, Mikhail Panov
Econometrica. July
2018, Vol. 86, Issue 4, Pages 1119-1157

We study trading behavior and the properties of prices in informationally complex markets. Our model is based on the single‐period version of the linear‐normal framework of Kyle (1985). We allow...

Stefan Wager, Susan Athey
Journal of the American Statistical Association. June
6 , 2018

Many scientific and engineering challenges—ranging from personalized medicine to customized marketing recommendations—require an understanding of treatment effect heterogeneity. In this article, we develop a nonparametric causal forest for estimating heterogeneous treatment effects...

Nicholas A. Bloom, Max Floetotto, Nir Jaimovich, Itay Saporta-Eksten, Stephen Terry
Econometrica. May
25 , 2018, Vol. 86, Issue 3

We investigate the role of uncertainty in business cycles. First, we demonstrate that microeconomic uncertainty rises sharply during recessions, including during the Great Recession of 2007–2009. Second, we show that...

Nikhil Agarwal, Itai Ashlagi, Paulo Somaini, Daniel Waldinger
American Economic Association: Papers and Proceedings. May
2018, Vol. 108, Pages 341-347

Many scarce public resources are allocated through wait lists that use priorities for individual agents. A new priority system for allocating deceased donor kidneys was adopted in 2014. This redesign...

Susan Athey, David Blei, Robert Donnelly, Francisco Ruiz, Tobias Schmidt
American Economic Review Papers and Proceedings. May
2018, Vol. 108, Pages 64-67

We estimate a model of consumer choices over restaurants using data from several thousand anonymous mobile phone users. Restaurants have latent characteristics (whose distribution may depend on restaurant observables) that...