Susan Athey

The Economics of Technology Professor
Professor of Economics (by courtesy), School of Humanities and Sciences
Senior Fellow, Stanford Institute for Economic Policy Research
R. Michael and Mary Shanahan Faculty Fellow for 2020–2021
Academic Area:

Additional Administrative Titles

Director, Golub Capital Social Impact Lab
Associate Director, Stanford Institute for Human-Centered Artificial Intelligence

Research Statement

Susan Athey’s research is in the areas of industrial organization, microeconomic theory, and applied econometrics. Her current research focuses on the design of auction-based marketplaces and the economics of the internet, primarily on online advertising and the economics of the news media. She has also studied dynamic mechanisms and games with incomplete information, comparative statics under uncertainty, and econometric methods for analyzing auction models.

Research Interests

  • Economics of the Internet
  • Economics of the News Media
  • Platform Markets
  • Online Advertising
  • Internet Search
  • Econometrics and Machine Learning
  • Big Data
  • Math-Based Currency
  • Industrial Organization

Teaching Statement

Professor Athey teaches classes about the economics of the internet and digital markets, platform markets, and internet search.

Bio

Susan Athey is the Economics of Technology Professor at Stanford Graduate School of Business. She received her bachelor’s degree from Duke University and her PhD from Stanford, and she holds an honorary doctorate from Duke University. She is an elected member of the National Academy of Science, and in 2007 she received the John Bates Clark Medal, awarded to the best American economist under the age of 40. She previously taught at the economics departments at MIT, Stanford and Harvard. Her current research focuses on the economics of digitization, marketplace design, and the intersection of econometrics and machine learning. She has worked on several application areas, including timber auctions, internet search, online advertising, the news media, and the application of digital technology to social impact applications. As one of the first “tech economists,” she served as consulting chief economist for Microsoft Corporation for six years, and now serves on the boards of Expedia, Lending Club, Rover, Turo, and Ripple, as well as non-profit Innovations for Poverty Action. She also serves as a long-term advisor to the British Columbia Ministry of Forests, helping architect and implement their auction-based pricing system. She is the founding director of the Golub Capital Social Impact Lab at Stanford GSB, and associate director of the Stanford Institute for Human-Centered Artificial Intelligence.

Highlights:

  • Undergrad at Duke in math, CS & econ; PhD at Stanford; previously taught at MIT and Harvard, now Economics of Technology Professor at Stanford
  • First woman to win the John Bates Clark Medal for the best American economist under the age of 40
  • Winner of other major honors such as election to the National Academy of Science in U.S.
  • Pioneer as a tech economist, including a stint as consulting chief economist of Microsoft and now on the board of Expedia, Lending Club, and several private tech firms
  • Associate director of Stanford Institute of Human Centered AI
  • Founded a lab for using technology and AI to solve problems of social impact

Academic Degrees

  • PhD, Economics, Stanford Graduate School of Business, 1995
  • BA, Economics, Computer Science, and Mathematics, Duke University, 1991

Academic Appointments

  • Professor, Stanford University Graduate School of Business , 2013-present
  • Professor of Economics, Harvard, 2006-2012
  • Holbrook Working Professor of Economics, Stanford, 2004-2006
  • Associate Professor of Economics, Stanford, 2001-2003
  • Castle Krob Career Development Associate Professor of Economics, MIT, 1998-2001
  • Assistant Professor of Economics, MIT, 1995-1997

Awards and Honors

  • Von Neumann Prize, Rajk LászlĂł College for Advanced Studies, 2019
  • Fellow, International Association of Applied Econometrics, elected 2019
  • Fellow, Game Theory Society, elected 2017
  • Jean-Jacques Laffont Prize, 2016
  • Codirector, Digital Business: Data, Decisions & Platform Strategy Initiative, Stanford GSB, 2015
  • Spence Faculty Fellow, Stanford GSB, 2013-2014
  • Fellow, Society for the Advancement of Economic Theory, 2013
  • Member, National Academy of Science, elected 2012
  • Honorary degree, Duke University, 2009
  • Fellow, American Academy of Arts and Sciences, elected 2008
  • John Bates Clark Medal, 2007
  • Fellow, Econometric Society, elected 2004
  • Guggenheim Faculty Scholar, Stanford University, 2004-2006
  • Elaine Bennett Research Award, 2001
  • Sloan Foundation Research Fellow, 2000
  • Undergraduate Economics Association Teaching Award, 1995-1996
  • Review of Economic Studies Tour, 1995
  • Stanford University Lieberman Fellow, 1994-1995
  • State Farm Dissertation Award in Business, 1994
  • National Science Foundation Graduate Fellowship, 1991-1994
  • Jaedicke Scholar, Stanford Graduate School of Business, 1992-1993
  • Mary Love Collins Scholarship, Chi Omega Foundation, 1991-1992
  • Duke University Alice Baldwin Memorial Scholarship, 1990-1991

Publications

Journal Article

Susan Athey, Stefan Wager
Econometrica
January 2021 Vol. 89 Issue 1 Pages 133–161
Susan Athey, Rena Conti, Richard Frank, Jonathan Gruber
Institute for Health System Innovation & Policy
July 2020
Erik Sverdrup, Ayush Kanodia, Zhengyuan Zhou, Susan Athey
The Journal of Open Source Software
June 20, 2020 Vol. 5 Issue 50 Pages 2243
Erik Sverdrup, Ayush Kanodia, Zhengyuan Zhou, Susan Athey, Stefan Wager
The Journal of Open Source Software
June 2020 Vol. 5 Issue 50
Susan Athey, Kevin A. Bryan, Joshua S. Gans
AEA Papers and Proceedings
May 2020 Vol. 110 Pages 80–84
Susan Athey, Guido W. Imbens
Journal of Econometrics (forthcoming)
2020
Rina Friedberg, Julie Tibshirani, Susan Athey, Stefan Wager
Journal of Computational and Graphical Statistics (forthcoming)
2020
Ittai Abraham, Susan Athey, Moshe Babaiof, Michael D. Grubb
Games and Economic Behavior (forthcoming)
2020
Susan Athey, Guido W. Imbens, Jonas Metzger, Evan Munro
Journal of Econometrics (forthcoming)
2020
Susan Athey, Michael Luca
Journal of Economic Perspectives
December 2019 Vol. 33 Issue 1 Pages 209-230
Susan Athey, Guido W. Imbens
Annual Review of Economics
August 2019 Vol. 11 Pages 685–725
Susan Athey, Mohsen Bayati, Guido W. Imbens, Zhaonan Qu
American Economic Review Papers and Proceedings
May 2019 Vol. 109 Pages 65-70
Susan Athey, Julie Tibshirani, Stefan Wager
Annals of Statistics
2019 Vol. 47 Issue 2 Pages 1148-1178
Alberto Abadie, Susan Athey, Guido W. Imbens, Jeffrey M. Wooldridge
Econometrica (forthcoming)
2019
Susan Athey, Francisco J. R. Ruiz, David M. Blei
Annals of Applied Statistics (forthcoming)
2019
Stefan Wager, Susan Athey
Journal of the American Statistical Association
June 6, 2018 Vol. 113 Issue 523 Pages 1228–1242
Susan Athey, David Blei, Robert Donnelly, Francisco Ruiz, Tobias Schmidt
American Economic Review Papers and Proceedings
May 2018 Vol. 108 Pages 64-67
Susan Athey, Emilio Calvano, Joshua S. Gans
Management Science
April 2018 Vol. 64 Issue 4 Pages 1574-1590
Susan Athey, Guido W. Imbens, Stefan Wager
Journal of the Royal Statistical Society-Series B
February 18, 2018 Vol. 80 Issue 4 Pages 597-623
Zhengyuan Zhou, Panayotis Mertikopoulos, Susan Athey, Nicholas Bambos, Peter Glynn, Yinyu Ye
32nd Conference on Neural Information Processing Systems (NIPS 2018)
2018
Susan Athey, Kun Kuang
Knowledge Discovery and Data Mining
2018
Susan Athey, Dean Eckles, Guido W. Imbens
Journal of the American Statistical Association
November 13, 2017 Vol. 113 Issue 521 Pages 230-240
Susan Athey, Guido W. Imbens, Thai Pham, Stefan Wager
American Economic Review
May 2017 Vol. 107 Issue 5 Pages 278-81
Susan Athey, Guido W. Imbens
Journal of Economic Perspectives
May 2017 Vol. 31 Issue 2 Pages 3-32
Susan Athey, Andrzej Skrzypacz
Journal of Economic Perspectives
May 2017 Vol. 31 Issue 2 Pages 237-256
Susan Athey, Jonathan Levin
Research in Economics ( in press )
February 16, 2017
Susan Athey
Science
February 3, 2017 Vol. 335 Issue 6324 Pages 483-485
Susan Athey, Guido W. Imbens
American Economic Review
May 1, 2015 Vol. 105 Issue 5 Pages 476–480
Susan Athey, Glenn Ellison
Journal of Economics & Management Strategy
April 2014 Vol. 23 Issue 2 Pages 294–316
Susan Athey, Ilya Segal
Econometrica
November 2013 Vol. 81 Issue 6 Pages 2463–2485
Susan Athey, Dominic Coey, Jonathan Levin
American Economic Journal: Microeconomics
2013 Vol. 5 Issue 1 Pages 1–27
Susan Athey, Jonathan Levin, Enrique Seira
Quarterly Journal of Economics
2011 Vol. 126 Issue 1 Pages 207–257
Susan Athey, Glenn Ellison
Quarterly Journal of Economics
2011 Vol. 126 Issue 3 Pages 1213–1270
Susan Athey, Joshua S. Gans
American Economic Review
May 2010 Vol. 100 Issue 2 Pages 608–613
Nikhil Agarwal, Susan Athey, David Yang
American Economic Review
2009 Vol. 99 Issue 2 Pages 441–447
Susan Athey, Kyle Bagwell
Econometrica
May 2008 Vol. 76 Issue 3 Pages 493–540
Susan Athey, Guido W. Imbens
International Economic Review
December 2007 Vol. 48 Issue 4 Pages 1159–1192
Susan Athey, David A. Miller
Theoretical Economics
September 2007 Vol. 2 Issue 3 Pages 299–354
Susan Athey, Ilya Segal
American Economic Review
May 2007 Vol. 97 Issue 2 Pages 131–136
Susan Athey, Larry Katz, Alan Krueger, Steve Levitt, James Poterba
American Economic Review
May 2007 Vol. 97 Issue 2 Pages 512–520
Susan Athey, Philip A. Haile
Handbook of Econometrics
2007 Vol. 6 Issue A Pages 3847–3965
Susan Athey, Guido Imbens
Econometrica
March 2006 Vol. 74 Issue 2 Pages 431–497
Susan Athey, Andrew Atkeson, Patrick J. Kehoe
Econometrica
September 2005 Vol. 73 Issue 5 Pages 1431–1475
Susan Athey, Kyle Bagwell, Chris Sanchirico
Review of Economic Studies
April 2004 Vol. 71 Issue 2 Pages 317-349
Susan Athey, Scott Stern
RAND Journal of Economics
September 2002 Vol. 33 Issue 3 Pages 399-432
Susan Athey
Quarterly Journal of Economics
February 2002 Vol. 117 Issue 1 Pages 187-223
Susan Athey, Philip Haile
Econometrica
2002 Vol. 70 Issue 6 Pages 2107 - 2140
Susan Athey, Kyle Bagwell
RAND Journal of Economics
September 2001 Vol. 32 Issue 3 Pages 428-465
Susan Athey, John Roberts
American Economic Review
May 2001 Vol. 91 Issue 2 Pages 200-205
Susan Athey, Jonathan Levin
Journal of Political Economy
April 2001 Vol. 109 Issue 2 Pages 375-417
Susan Athey, Armin Schmutzler
RAND Journal of Economics
March 2001 Vol. 32 Issue 1 Pages 1-26
Susan Athey, Chris Avery, Peter Zemsky
American Economic Review
September 2000 Vol. 90 Issue 4 Pages 765-786
Susan Athey, Scott Stern
Industrial Relations Research Association
January 3, 1999 Pages 53-60
Susan Athey, Armin Schmutzler
RAND Journal of Economics
December 1995 Vol. 26 Issue 4 Pages 557-574

Book Chapters

Susan Athey
The Economics of Artificial Intelligence: An Agenda (forthcoming)
January 2018
Susan Athey, Scott Stern
Economic Analysis of the Digital Economy (National Bureau of Economic Research Conference Report)
April 1, 2015 Pages 443–447

Working Papers

Sanath Kumar Krishnamurthy, Vitor Hadad, Susan Athey October 25, 2020
Susan Athey, Stefan Wager September 2020
Allison Koenecke, Michael Powell, Ruoxuan Xiong, Zhu Shen, Nicole Fischer, Sakibul Huq, Adham M. Khalafallah, Marco Trevisan, Pär Sparen, Juan J. Carrero, Akihiko Nishimura, Brian Caffo, Elizabeth A. Stuart, Renyuan Bai, Verena Staedtke, Nickolas Papadopoulos, Kenneth W. Kinzler, Bert Vogelstein, Shibin Zhou, Chetan Bettegowda, Maximilian F. Konig, Brett Mensh, Joshua T. Vogelstein, Susan Athey August 2020
Sanath Kumar Krishnamurthy, Susan Athey February 23, 2020
VItor Hadad, David A. Hirshberg, Ruohan Zhan, Stefan Wager, Susan Athey February 2020
Susan Athey, Kevin Bryan, Joshua S. Gans January 10, 2020
Kun Kuang, Ruoxuan Xiong, Peng Cui, Susan Athey, Bo Li January 2020
Susan Athey, Guido W. Imbens, Mohsen Bayati November 2019
Susan Athey, Juan Camilo Castillo, Bharat Chandar November 2019
Susan Athey, Stefan Wager September 16, 2019
Jonathan Johannemann, Vitor Hadad, Susan Athey, Stefan Wager August 2019
Rob Donnelly, Francisco R, Ruiz, David Blei, Susan Athey June 2019
Rina Friedberg, Julie Tibshirani, Susan Athey, Stefan Wager June 2019
Susan Athey, Stefan Wager February 20, 2019
Dmitry Arkhangelsky, Susan Athey, David A. Hirshberg, Guido W. Imbens, Stefan Wager February 1, 2019
Susan Athey, Billy Ferguson, Mathew Gentzkow, Tobias Schmidt February 2019
Maria Dimakopoulou, Susan Athey, Guido W. Imbens December 2018
Susan Athey, Zhengyuan Zhou, Stefan Wager October 10, 2018
Alberto Abadie, Susan Athey, Guido W. Imbens, Jeffrey Wooldridge October 9, 2017
Maja Rudolph, Francisco Ruiz, Susan Athey, David Blei September 28, 2017
Susan Athey, Christian Catalini, Catherine E. Tucker June 2017
Susan Athey, Julie Tibshirani, Stefan Wager January 2017
Susan Athey, Mohsen Bayati, Nick Doudchenko, Guido W. Imbens, Khashayar Khosravi 2017
Susan Athey, Emilio Calvano, Saumitra Jha August 6, 2016
Susan Athey, Iva Parashkevov, Vishnu Sarukkai, Jing Xia August 2016
Susan Athey, Dean Eckles, Guido W. Imbens June 2015
Susan Athey, Guido W. Imbens April 2015
Alberto Abadie, Susan Athey, Guido W. Imbens, Jeffrey M. Wooldridge July 2014
Susan Athey, Markus Mobius, Jeno Pal January 14, 2014
Susan Athey, Christopher Avery, Peter Zemsky 1994
Susan Athey, Joshua Gans, Scott Schaefer, Scott Stern 1994

Teaching

Executive Education & Other Non-Degree Programs
Harness the power of big data and artificial intelligence to improve decisions, gain a competitive edge, and enhance your company’s performance.
Evolve as a leader in an executive education program that reinvigorates and ramps up your professional journey.

Other Teaching

Programs and Non-Degree Courses

This is a team-based course where students will work on a project to improve a product using data and experimentation. We will cover key considerations for designing and executing high-quality research for product innovation to drive business outcomes and social impact. Students will have the opportunity to apply methods from machine learning and causal inference to a real-world scenario provided by a partner organization. Topics include designing research and experiments, data analysis, experimental and non-experimental methods for estimating the impact of product features, as well as management consideration for the delivery of actionable research. The course involves three weekly meetings: two lectures and one lab.

Conferences, Talks & Speaking Engagements

Susan Athey, Professor of Economics at Stanford Graduate School of Business, presents “Designing Adaptive Field Experiments” at the University of Chicago, Department of Economics, Advances with Field Experiments Seminar Series.

Susan Athey, Professor of Economics at Stanford Graduate School of Business, came to Toulouse to receive the Jean-Jacques Laffont Prize 2016. She tells us about her research “the internet and the news industry”, and her relationship with TSE.

Susan Athey, Professor of Economics at Stanford Graduate School of Business, discusses how data-driven organizations still need to exercise intuition and judgement to ensure that short-term results don’t override long-term interests.

Susan Athey, Professor of Economics at Stanford Graduate School of Business, discusses Designing Online Advertising Markets at the Algorithmic Game Theory and Practice talk held at the Simons Institute for the Theory Computing, UC Berkeley

Stanford GSB Affiliations

Stanford University Affiliations

  • Senior Fellow Stanford Institute of Economic Policy Research
  • Member Program on Computational Social Science

Service to the Profession

Current Activities

  • Member, President’s Committee for the National Medal of Science (Presidential Appointment), 2014-Present
  • Member, National Academies Board on Science, Technology and Economic Policy Innovation Policy Form, 2013-present
  • Member, National Academies Committee on Science, Engineering, and Public Policy, 2013-present

Past Activities

  • Member, President’s Committee for the National Medal of Science (Presidential Appointment), 2011-2013
  • Member, Nominating Committee for American Academy of Arts and Sciences, 2011-2012
  • Cambridge Economics Economics and Computational Day, co-founder, 2011.
  • Council, Game Theory Society, 2009-2012. (elected position)
  • Associate Editor, Theoretical Economics, 2005-2011
  • Council, Econometric Society, 2007-2010. (elected position)
  • Executive Committee, American Economic Association, 2008-2010. (elected position)
  • Advisory Committee on Editorial Appointments, American Economics Association, 2011
  • Co-Editor, American Economic Journals: Microeconomics, 2007-2008
  • Associate Editor, Econometrica, 2006-2007
  • Associate Editor, Quarterly Journal of Economics, 2001-2007
  • Editorial Board, Not a Journal Economics, 2001-2008
  • Fellows Nominating Committee, Econometric Society, 2006
  • Elaine Bennett Research Prize Committee (AEA/CSWEP), 2002, 2004, 2006 (Chair)
  • Chair, Program Committee, Winter Meetings of the Econometric Society, 2006
  • National Science Foundation Economics Panel, 2004-2006
  • Co-director, Market Design Program, Stanford Institute for Economic Policy Research, 2004-2006
  • Mentor, CeMent Mentoring Workshop, AEA/CSWEP, 2006
  • Young Faculty Nominating Committee, Center for Advanced Study in the Behavioral Sciences
  • Associate Editor, American Economic Review, 2002-2005
  • Associate Editor, RAND Journal of Economics, 2002-2004
  • Foreign Editor, Review of Economic Studies, 2001-2004
  • American Economic Association Nominating Committee, 2003
  • Stanford University Fellow, 2002-2004
  • Co-editor, Journal of Economics and Management Strategy, 1997-2001
  • Program Committee, Summer Meetings of the Econometric Society, 1997 and 1998; 8th World Congress of the Econometric Society, 2000; Winter Meetings of the Econometric Society, 2001 and 2005

In the Media

Women in Data Science (WiDS) December 16, 2019
SNS Tylösand Summit October 14, 2019
International Monetary Fund June 01, 2019
AEA Research Highlights March 15, 2019
TNIT News February 01, 2019
Forbes India June 08, 2018
Bloomberg April 26, 2018
The Wonk June 01, 2017
STEM Gem Book June 06, 2016
AdExchanger April 14, 2016
Harvard University August 26, 2015
Prof. Susan Athey discusses her research and work on big data
Federal Reserve Bank of Richmond August 01, 2015
Stanford GSB June 18, 2015
Susan Athey explains how Bitcoin works, and why virtual digital currency might change the way consumers and financial institutions do business. Athey is the Economics of Technology professor at Stanford Graduate School of Business.
Becker Friedman Institute April 10, 2015
University of Chicago undergraduates heard an array of views on the economic, moral, and political effects of so-called "big data" at a student-organized panel discussion held on April 10, 2015 at the Saieh Hall for Economics. Led by fourth-year students students in the College, the panel featured economists Susan Athey of Stanford University and Hal Varian of the University of California, Berkeley, as well as statistician and machine learning expert Larry Wasserman of Carnegie Mellon University.
Bloomberg July 27, 2013

Insights by Stanford Business

November 20, 2020
Access to superabundant data has transformed the methods of scholastic inquiry — and possibly the basic tenets of inquiry itself.
August 06, 2020
Using GPS data to analyze people’s movements, Stanford researchers found that in most U.S. metropolitan areas, people’s day-to-day experiences are less segregated than traditional measures suggest.
July 29, 2020
Why organizations might want to design and train less-than-perfect AI.
June 16, 2020
From Hollywood to courtrooms to biased hiring practices, Stanford GSB experts analyze the breadth of racial discrimination — and how to grow beyond it.
March 16, 2020
A conference on prosecution reform through data discusses the challenges of culture change.
January 31, 2020
To maximize the potential of big data, firms are looking for employees with a new skill set.
January 16, 2020
Innovations developed at big tech firms could transform the nonprofit world, with a little help from academia.
December 06, 2019
Communication mistakes, job-stealing robots, and career-gap explanations captured reader attention this year.
November 14, 2019
Experts weigh in on economic, education, and financial gaps at a recent Stanford GSB conference.
November 07, 2019
At an AI forum, experts say the arrival of superhuman machine intelligence will be one of the biggest events in human history.
March 07, 2019
At a Future of Work forum, experts say demographic shifts, not artificial intelligence, create the biggest challenges for today’s workplace.
December 03, 2018
Seven Stanford business professors recommend their favorite books.
October 10, 2018
Academics, investors, and nonprofit leaders on how to find innovative solutions for the world’s starkest problems.
May 23, 2018
Telling cats from dogs is easy. It’s the what-ifs that get problematic.
August 03, 2017
Consumers choose convenience over protection.
March 10, 2017
Susan Athey wants to help machine-learning applications look beyond correlation and into root causes.
February 25, 2014
Economist Susan Athey and venture capitalist Balaji Srinivasan discuss the digital currency.
September 20, 2013
The Stanford economist explains how troves of digital data will reshape competition.

School News

September 29, 2020
Stanford Graduate School of Business professor and economist recognized for pioneering and innovative scholarship on markets.
March 18, 2020
Faculty members explore new technologies to bring classroom lessons to remote students.
October 30, 2019
Project-based courses pair students with external organizations to solve real-world business problems.
October 28, 2019
The recently launched lab aims to support and guide innovation in the social sector.
May 14, 2019
Meet three graduates of an innovative Stanford GSB program designed to create a path for women and minorities in business academia.
March 27, 2019
These Stanford GSB women are changing their industries and their communities.
February 27, 2018
“Effective leaders in the digital age will need to be mindful of the social consequences of technology.”
July 11, 2012
Award-winning economist Susan Athey, noted econometrician Guido Imbens, corporate finance expert Joshua Rauh, and others to join Stanford GSB faculty.
November 01, 2010
John Roberts' groundbreaking work in industrial organization affected the course of economic research and inspired a new generation of economists.