HARRIS SCHLESINGER
Professor of Finance and Economics
Frank Park Samford Chair of Insurance
Office: Department of Finance, 200 Alston Hall, E-mail: [email protected]
University of Alabama, Tuscaloosa, AL 35487-0224 Website: hschlesinger.people.ua.edu
Phone/Fax: (205) 348-7858 / 348-0590
BIRTHDATE: September 11, 1952 MARITAL STATUS: Married, one child
PLACE OF BIRTH: New York City CITIZENSHIP: U.S.A.
EDUCATION:
Ph.D. (Economics), University of Illinois, 1980
M.S. (Mathematics), University of Illinois, 1978
M.A. (Mathematics), State University of New York College at Potsdam, 1974
B.A. (Mathematics and Economics), State University of New York College at Potsdam, magna cum laude, 1974
POSTDOCTORAL EDUCATION:
NATO Advanced Study Institute on Insurance and Risk Theory, Maratea, Italy, 1985.
Legal Institute for Economists (Emory University), Pine Isle, Georgia, 1981.
TEACHING AND RESEARCH POSITIONS:
Professor of Finance and Economics, Samford Chair of Insurance, University of Alabama, 1987-present
Adjunct Professor of Finance, University of Konstanz (Germany), 2003 - present
Associate Professor of Finance, University of Illinois, 1986-1987
Research Fellow, Wissenschaftszentrum, Berlin, (Germany), 1985-1986
Assistant Professor of Economics, Vanderbilt University, 1980-1985
VISITING POSITIONS:
University of Munich (Germany; Joint in mathematics, insurance and CES), Fall 2008, December 2010
University of Geneva (Switzerland), Spring 2001
University of Konstanz (Germany), Summers 1997, 1999 and 2001
Center for Economic Studies (CES), University of Munich, (Germany), Summers 1992 and 2000
IDEI, University of Toulouse (France), Summers 1993, 1994, 1996, 1998 and 2002
Free University, Berlin (Germany), Summer 1995
Wissenschaftszentrum, Berlin, (Germany), Fall 1993, and Summers 1987-1989, 2002
CORE, Catholic University, Louvain (Belgium), Summer 1991
Catholic University of Mons (Belgium), Summer 1990
FELLOWSHIPS AND AWARDS:
Honorary Doctoral Degree, University of Konstanz, 2010
Research Associate, Munich Risk and Insurance Center, since 2010.
Decision Analysis Society (INFORMS) Award for Best Book or Article published two years prior, 2008
Excellence Professor of Quantitative Finance & Insurance, Mathematics Institute, University of Munich, 2008, 2010
Burnum Distinguished Faculty Award for outstanding scholarship, University of Alabama, 2007
Kulp-Wright Book Award, presented annually by the American Risk & Insurance Association, 2007
CESifo – Senior Research Fellow, since 1999.
Anbar Citation of Excellence for 1997 article in the Economic Journal.
Award for the outstanding feature article in the Journal of Risk and Insurance, 1997
Spangler Award for the best article 10 years after publication, Journal of Risk and Insurance, 1995
Minerva Award for the Outstanding Alumnus of SUNY College at Potsdam, 1994
Award for the outstanding short article in the Journal of Risk and Insurance, 1991
Intercollegiate Center for Management Science (CIM), Brussels, Research Fellowship, 1990
CPCU - Harry J. Loman Research Fellow, 1988-1989
Award for the outstanding feature article in the Journal of Risk and Insurance, 1985
Award for the outstanding short article in the Journal of Risk and Insurance, 1985
NSF Postdoctoral Fellowship to attend NATO Advanced Studies Institute, 1985
Fellowship to Legal Institute for Economists, Law and Economics Center, Emory University, 1981
Excellence-in-Teaching List, University of Illinois, 1979
Pi Mu Epsilon Award (outstanding senior in Mathematics), SUNY College at Potsdam, 1974
Wall Street Journal Award (outstanding senior in Economics) SUNY College at Potsdam, 1974
New York State Regents Scholarship, 1970-1974
EXTERNALLY FUNDED RESEARCH:
German Government Excellence Initiative, Visiting Professor of Quantitative Finance, Munich, 2008, 2010
International Association for Financial Asset Management and Engineering (FAME), 2001
National Council on Compensation Insurance, 1984, 1985 and 1988
U.S Department of Labor, 1981
S. S. Huebner Foundation, 1980
Health Care Financing Administration, Department of Health and Human Services, 1980
PROFESSIONAL ORGANIZATIONS:
American Finance Association; American Economic Association; Econometric Society; Mathematical Association of America; American Risk and Insurance Association; Southern Risk and Insurance Association; Risk Theory Society; European Group of Risk and Insurance Economists; International Insurance Society
OFFICES HELD:
President, European Group of Risk & Insurance Economists (2006-07)
Board of Advisors, Barbon Institute for Risk & Insurance (2006-07)
President, American Risk and Insurance Association (1997-98), Board of Directors (1991-98).
Board of Directors, Southern Risk and Insurance Association (1995-99)
Chairman of the Research Committee, International Insurance Society (1992-96)
President, Risk Theory Society (1985-86)
HONORARIES:
Beta Gamma Sigma (Business); Phi Beta Delta (International Scholars); Pi Mu Epsilon (Mathematics); Omicron Delta Epsilon (Economics)
BOOKS:
Risk Measures and Attitudes, (editor, with F. Biagini and A. Richter). London, U.K., Springer (2013)
Economic and Financial Decisions under Risk, (with L. Eeckhoudt and C. Gollier), Princeton NJ: Princeton University Press, (2005) [Winner of 2007 Kulp-Wright Book Award, American Risk & Insurance Association.]
JOURNAL ARTICLES:
“Consistency of Higher Order Risk Preferences,” (with C. Deck), Econometrica, Vol. 82 (September 2014), pp. 1913-1943.
“Uncertain Bequest Needs and Long-Term Insurance Contracts,” (with W. Fei and C. Fluet), Journal of Risk and Insurance, forthcoming (2014)
“When Ross Meets Bell: The Linex Utility Function,” (with M. Denuit and L. Eeckhoudt), Journal of Mathematical Economics, Vol. 49, (March 2013), pp. 177-182.
“Insurance Contract Design when the Insurer has Private Information on Loss Size,” (with Q. Lian), Journal of Risk and Insurance, Vol. 79, (December 2012), pp. 1039-1050.
“Risk Taking with Additive and Multiplicative Background Risks,” (with G. Franke and R. Stapleton), Journal of Economic Theory, Vol. 146, No. 4 (July 2011). Pp. 1547-1568.
“Exploring Higher-Order Risk Effects,” (with C. Deck), Review of Economic Studies, Vol. 77, No. 4 (October 2010), pp. 1403-1420.
“On the Utility Premium of Friedman and Savage,” (with L. Eeckhoudt), Economics Letters, Vol. 105, No. 1 (October 2009), pp. 46-48.
“Apportioning of Risks via Stochastic Dominance,” (with L. Eeckhoudt and I. Tsetlin), Journal of Economic Theory, Vol. 144, No. 3 (May 2009), pp. 994-1003.
“Precautionary Insurance Demand with State-Dependent Background Risk,” (with W. Fei), Journal of Risk and Insurance, Vol. 73, No. 1 (March 2008), pp. 1-16.
“Changes in Risk and the Demand for Saving,” (with L. Eeckhoudt), Journal of Monetary Economics, Vol. 55, No. 7 (October 2008), pp. 1329-1336.
“A Good Sign for Multivariate Risk Taking,” (with L. Eeckhoudt and B. Rey), Management Science, Vol. 53, No. 1 (January 2007), pp. 117-124.
“Mossin’s Theorem for Upper-Limit Insurance Policies,” Journal of Risk and Insurance, Vol. 73, No. 2 (June 2006), pp. 297-301.
“Putting Risk in its Proper Place,” (with L. Eeckhoudt), American Economic Review, Vol. 96, No. 1 (March 2006), pp. 280-289. [Winner of 2008 Decision Analysis Society Best Paper Award, INFORMS]
“Multiplicative Background Risk,” (with G. Franke and R. Stapleton), Management Science, Vol.. 52, No. 1 (January 2006), pp.146-153.
“Coping with Credit Risk,” (with H. Loubergé), Journal of Risk Finance, Vol. 6, No. 2 (2005), pp. 118-134.
“Adverse Selection in an Insurance Market with Government-Guaranteed Subsistence Levels,” (with B. Kim), Journal of Risk and Insurance, Vol.72, No. 1 (March 2005), pp. 61-75.
“Preserving Preference Rankings under Background Risk,” (with C. Gollier), Economics Letters, Vol. 80 (September 2003), pp. 337-341.
“Changes in Risk and Asset Prices,” (with C. Gollier), Journal of Monetary Economics, Vol. 49, (May 2002), pp. 747-760.
“Insurance Contracts and Securitization,” (with N. Doherty), Journal of Risk and Insurance, Vol. 69, No. 1 (March 2002), pp.45-62.
“Decomposing Catastrophic Risk,” Insurance: Mathematics and Economics, Vol. 24, No. 1 (March 1999), pp. 95-101.
"The No Loss Offset Provision and the Attitude Towards Risk of a Risk-neutral Firm," (with L. Eeckhoudt and C. Gollier), Journal of Public Economics, Vol. 65, No. 2 (August 1997), pp. 207-217.
"Risk Aversion in Rent-Seeking and Rent-Augmenting Games," (with K. Konrad), Economic Journal, Vol. 107, No. 445 (November 1997), pp. 1671-1683.
"Insurance Without the Expected-Utility Paradigm," Journal of Risk and Insurance, Vol. 64, No. 1 (March 1997), pp. 19-39.
"Portfolio Choice under Noisy Asset Returns," (with C. Gollier), Economics Letters, Vol. 53, No. 1 (October 1996), pp. 47-51.
"Changes in Background Risk and Risk-Taking Behavior." (with L. Eeckhoudt and C. Gollier), Econometrica, Vol. 64, No. 3 (May 1996), pp. 683-689.
"Habit Formation and the Demand for Insurance," (with E. Briys and M. Ben-Arab), Journal of Risk and Insurance, Vol. 63, No. 1 (March 1996), pp. 111-119.
"Arrow's Theorem On The Optimality of Deductibles: A Stochastic Dominance Approach," (with C. Gollier), Economic Theory, Vol. 7 (1996), pp. 359-363.
"Severity Risk and the Adverse Selection of Frequency Risk." (with N. Doherty), Journal of Risk and Insurance, Vol. 62, No. 4 (December 1995), pp. 649-665.
"Second Best Insurance Contract Design in an Incomplete Market," (with C. Gollier), Scandinavian Journal of Economics, Vol. 97, No. 1 (1995), pp. 123-135.
"The Risk Averse and Prudent Newsboy," (with L. Eeckhoudt and C. Gollier), Management Science, Vol. 41, No. 5 (May 1995), pp. 786-794.
"Zur Theorie der Versicherungsnachfrage," Zeitschrift für Die Gesamte Versicherungswissenschaft., Vol. 83, No. 1/2 (1994), pp.113-136. (“On the Theory of Insurance Demand,” German Journal of Insurance)
"Increases in Prudence and Increases in Risk Aversion," (with L. Eeckhoudt), Economics Letters, Vol. 45, No. 1, (May 1994) pp. 51-53.
"Consumer Information and Decisions to Switch Insurers," (with J. M. Schulenburg), Journal of Risk and Insurance, Vol. 60, No. 4 (December 1993), pp. 591-615.
"Optimal Hedging when Preferences are State Dependent," (with E. Briys), Journal of Futures Markets, Vol. 13, No. 5 (August 1993), pp. 441-451.
"Optimal Hedging in a Futures Market with Background Noise and Basis Risk," (with E. Briys and M. Crouhy), European Economic Review, Vol. 37, (January 1993), pp. 949-960.
"The Valuation of Contingent Claims Markets," (with E. Schlee), Journal of Risk and Uncertainty, Vol. 6, No. 1 (January 1993), pp. 19-31.
"Occupational Disease: Efficiency in Compensation Systems," (with J. Schmit and E. Venezian), Journal of Insurance Regulation, Vol. 11, No. 4 (June 1993), pp. 476-490.
"Increases in Risk and Deductible Insurance," (with L. Eeckhoudt and C. Gollier), Journal of Economic Theory, Vol. 55, No. 2 (December 1991), pp. 435-440.
"Reliability of Risk Management: Market Insurance, Self-Insurance and Self-Protection Reconsidered," (with E. Briys and J. M. Schulenburg), Geneva Papers on Risk and Insurance Theory, Vol. 16, No. 1 (June 1991), pp. 45-59.
"Optimal Hedging under Intertemporally-Dependent Preferences," (with E. Briys and M. Crouhy), Journal of Finance, Vol. 57, No. 2 (September 1990), pp. 458-467.
"Search Costs, Switching Costs and Product Heterogeneity in an Insurance Market," (with J. M. Schulenburg), Journal of Risk and Insurance, Vol. 58, No. 1 (March 1991), pp. 109-119.
"Risk Aversion and the Propensities for Self-Insurance and Self-Protection," (with E. Briys), Southern Economic Journal, Vol. 45, No. 4 (October 1990), pp. 1315-1324. [Reprinted in French in RISQUE, Vol. 4 (1991), pp. 27-37.]
"Ex Ante Loss Control by Insurers: Public Interest for Higher Profit," (with E. Venezian), Journal of Financial Services Research, Vol. 4, No. 2 (July 1990), pp. 83-92.
"Rational Insurance Purchasing: Consideration of Contract Nonperformance," (with N. Doherty), Quarterly Journal of Economics, Vol. 105, No. 1 (February 1990), pp. 143-153.
"On the Analytics of Pure Public Good Provision," Public Finance/Finances Publiques, Vol. 44, No. 1 (1989), pp. 102-110.
"Rudiments of Insurance Purchasing: A Graphical State-Claims Analysis," (with Y. Kahane and N. Yanai), Insurance: Mathematics and Economics, Vol. 7, No. 4 (Dec. 1988), pp. 211-218.
"Cutting the Cake with a Stranger: Egoism and Altruism with Imperfect Information," (with H. Loubergé), Journal of Economic Behavior and Organization, Vol. 10, No. 4 (Dec. 1988), pp. 377-388.
"Mehr Markt in Gesundheitswesen," (with J. M. Schulenburg), Journal of Institutional and Theoretical Economics, Vol. 144, No.2 (1988), pp. 396-402. (“More Markets in Health Organization”)
"Additive and Multiplicative Risk Premiums with Multiple Sources of Risk," (with N. Doherty and H. Loubergé), Scandinavian Actuarial Journal, Vol. 1987, (1987), pp. 41-49.
"Risk Aversion and the Purchase of Risky Insurance," (with J. M. Schulenburg), Journal of Economics (Zeitschrift für Nationalökonomie ), Vol. 47, No. 3 (1987), pp. 309-314.
"Monopoly Profits for Contingent Claims Contracts when Preferences are State-Dependent," Journal of Risk and Insurance, Vol. 54, No. l, (March 1987), pp. 179-184.
"Canons of Just Taxation: Efficiency and Fairness in an Economy with a Public Good," (with D. Sullivan), Public Finance Quarterly, Vol. 14, No. 4 (October 1986), pp. 448-465.
"Insurance Markets with Loss-Prevention Activity: Profits, Market Structure and Consumer Welfare," (with E. Venezian), Rand Journal of Economics, Vol. 17, No. 2 (Summer 1986), pp. 227-238.
"A Note on Risk Premiums with Random Initial Wealth," (with N. Doherty), Insurance: Mathematics and Economics, Vol. 5, No. 3 (July 1986), pp. 183-185.
"Social Security as a Wage Subsidy Over the Life Cycle," Geneva Papers on Risk and Insurance, Vol. 11, No. 38 (January 1986), pp. 61-76.
"Compulsory Insurance and Consumer Welfare: A State-Claims Approach," Geneva Papers on Risk and Insurance, Vol. 11, No. 38 (January 1986), pp. 17-22.
"Product Safety for a Monopolist under Strict Liability," Insurance: Mathematics and Economics, Vol. 4, No. 4 (October 1985), pp. 253-263.
"Choosing a Deductible for Insurance Contracts: Best or Worst Insurance Policy?" Journal of Risk and Insurance, Vol. 52, No. 3 (September 1985), pp. 522-528.
"Social Security and Work Incentives," Benefits Quarterly, Vol. 1, No. 2 (1985), pp. 43-47.
"Incomplete Markets for Insurance: An Overview," (with N. Doherty), Journal of Risk and Insurance, Vol. 52, No. 3 (Sept.1985), pp. 402-423. [Reprinted in G. Dionne and S. Harrington, eds., Foundations of Insurance Economics, Boston: Kluwer Academic Publishers, 1992, pp. 134-155.]
"Two-Person Insurance Negotiation," Insurance: Mathematics and Economics, Vol. 3, No. 3 (July 1984), pp. 147-150.
"Optimal Insurance for Irreplaceable Commodities," Journal of Risk and Insurance, Vol. 51, No. 6 (March 1984), pp. 131-137.
"Optimal Insurance in Incomplete Markets," (with N. Doherty), Journal of Political Economy, Vol. 91, No. 6 (December 1983), pp. 1045-1054.
"The Optimal Deductible for an Insurance Policy when Initial Wealth is Random," (with N. Doherty), Journal of Business, Vol. 56, No. 4 (October 1983), pp. 555-565.
"A Theoretical Model of Medical Malpractice and the Quality of Care," Journal of Economics and Business, Vol. 35, No. l (March 1983), pp. 83-94.
"Nonlinear-Pricing Strategies for Competitive and Monopolistic Insurance Markets," Journal of Risk and Insurance, Vol. 50, No. l (March 1983), pp. 61-83.
"A Note on the Consistency of Non-Profit-Maximizing Behavior with Perfect Competition," Southern Economic Journal, Vol. 48, No. 2 (October 1981), pp. 513-516.
"The Optimal Level of Deductibility in Insurance Contracts," Journal of Risk and Insurance, Vol. 48, No. 3 (September 1981), pp. 465-481.
NONREFEREED JOURNAL ARTICLES:
“Behavioral Insurance: Theory & Experiments (with A. Richter and J. Schiller). Journal of Risk and Uncertainty, forthcoming (2014).
“Some Remarks on the Evolution of Risk Preferences,” (comment on the Geneva Risk Lecture by Hans-Werner Sinn, Nottingham, England, 2002), Geneva Papers on Risk and Insurance Theory, Vol. 28, No. 2. (December 2003), pp. 101-104.
“Uncommon Knowledge: Bilateral Information Asymmetry in Insurance Markets,” (American Risk & Insurance Association Presidential Address), Risk Management and Insurance Review, Vol. 1, No. 2 (Winter 1998), pp. iv-xi
"Optimal Insurance Coverage: Comment," Journal of Risk and Insurance, Vol. 54, No. 4 (December 1987), pp. 810-812.
Review of Corporate Risk Management: A Financial Exposition by Neil A. Doherty; published in Journal of Finance, Vol. 42, No. 4 (September 1987), pp. 1107-1109.
"Bonus-Malus Systems in Health Insurance: A Comment on Zweifel," Video on Innovations in Health Insurance, The Geneva Association, 1985.
CHAPTERS IN BOOKS AND PROCEEDINGS:
“Insurance Demand (revised)” in G. Dionne (ed.), Handbook of Insurance, 2nd Edition, 2013 (forthcoming),Springer
“Higher-Order Risk Attitudes,” (with L. Eeckhoudt), in G. Dionne (ed.), Handbook of Insurance, 2nd Edition, 2013 (forthcoming),Springer
“Simplifying and Solving Decision Problems by Stochastic Dominance Relations,” (with L. Eeckhoudt and I. Tsetlin), in J. Cochran, L. Cox, P. Keskinocak, J. Kharoufeh, and J.C. Smith (eds.), Wiley Encyclopedia of Operations Research and Management Science, 2011, Hoboken NJ, J. Wiley & Sons.
“Insurance Demand,” in G. Dionne (ed.), Handbook of Insurance, 2000, Boston: Kluwer Academic Publishers.
"Korrelationen bei versicherbaren Schäden und ihre langfristigen Folgen," (with R. Eisen and P. Zweifel), in Schulenburg (ed.), Allokation der Resourcen bei Sicherheit and Unsicherheit, 1997, Baden-Baden: Nomos Verlag. (“Correlations of Insurable Risks and their Long-term Consequences”)
"Optimal Insurance under Intertemporally-Dependent Preference" (with E. Briys and M. Ben-Arab), in C. Hipp (ed.), Money, Banking, Finance and Insurance, 1994, Karlsruhe: VVW.
"Insurance Markets with Noisy Loss Distributions," (with N. Doherty) in D. Hesberg (ed.), Risiko, Versicherung, Markt: Festschrift für Walter Karten, 1994, Karlsruhe: VVW.
"A Precautionary Tale of Prudence and Risk Aversion," (with L. Eeckhoudt) in M. J. Machina and B. R. Munier (ed.), Models and Experiments on Risk and Rationality, 1994, Dordrecht/Boston: Kluwer Academic Publishers.
"Insurance: Everyone Hates It But Why?" Focus, Spring 1992, Vol. 2, No. 1, pp. 10-14.
"Good Days and Bad Days: Risk Management Decisions when Effectiveness is Unreliable." in D. Durbin and P. S. Borba (ed:), Costs, Prices and Regulation: The Case of Workers' Compensation, 1992, Dordrecht/Boston: Kluwer Academic Publishers
"The Demand for Risky Insurance: Purchasing Coverage with Potential Insurer Insolvency," (with N. Doherty), in Managing Insolvency Risk of Insurance Companies, J.D. Cummins and R. Derrig (eds.), Boston: Kluwer Academic Publishers, 1991, pp. 283-294.
"Increases in Risk with Option-Like Payoff Functions," (with L. Eeckhoudt and C. Gollier), in Geld, Banken und Versicherungen, H. Göppel and W.-R. Heilmann, editors, VVW Karlsruhe, 1990, pp. 1279-1289.
"An Intertemporal Model of Consumption and Hedging," (with E. Briys and M. Crouhy), Review of Futures Markets, (Refereed Proceedings of CBOT Research Symposium) Vol. 7 Supplement (1989), pp. 456-466.
"Compensating Victims of Occupational Diseases: Can We Structure an Effective Policy?" (with E. Venezian), Workers Compensation Insurance Pricing: Current Programs and Proposed Reforms, D. Appel and P. Borba, editors, Homewood, IL: Irwin, 1988, pp. 59-80.
"Extending Arrow-Pratt Risk Premiums," in Insurance and Risk Theory (NATO A.S.I. Series in Mathematical and Physical Sciences) M. Gooverts, J. Haezendonck and F. DeVylder, editors, Dordrecht, Holland: D. Reidel Publishing, 1986, pp. 407-420.
"Optimal Insurance," (with N. Doherty), in Geld, Banken und Versicherungen, H. Göppel and R. Henn, editors, VVW Karlsruhe, 1982, pp. 867-880.
PRESENTATIONS (Most Recent):
2014: Econometric Society Meeting, Philadelphia; Florida State University; ETH, Zurich (Switzerland)
2013: Conference on Pricing Climate Risk, Tempe; Copenhagen Business School (Denmark); Conference on Experimental Finance, Tilburg (Netherlands); Asia-Pacific Risk & Insurance Association, New York; American Risk & Insurance Association, Washington D.C.; European Group of Risk & Insurance Economists, Paris (France)); CEAR/MRIC Workshop, Atlanta.
2012: Temple University; University of Chile, Santiago; University of Texas at Dallas; University of Konstanz (Germany); University of Toulouse (France); FUR Meeting, Atlanta; American Risk and Insurance Association, Minneapolis; European Group of Risk & Insurance Economists, Mallorca (Spain); Behavioral Insurance Workshop, Munich (Germany); University of Munich (Germany)
2011: University of Pennsylvania; Conference on Pensions & Bequests, ETH Zurich (Switzerland); University of Konstanz (Germany); Imperial College, London (UK); University of Bonn (Germany); American Risk & Insurance Association, San Diego; European Group of Risk & Insurance Economists, Vienna (Austria); Southern Risk & Insurance Association, New Orleans
2010: American Economic Association, Atlanta; Paris School of Economics (France); University of Konstanz (Germany); University of Vienna (Austria); Chilean Economics Association, Talca; University of Montreal; Symposium on Risk Measures and Risk Attitudes, Munich (Germany)
COURSES TAUGHT:
University of Alabama: Financial Engineering (MBA), Property and Liability Insurance, Personal Insurance Planning, Corporate Risk Management, Seminar in Insurance (Ph.D.), Finance Theory I (Ph.D.), Finance Theory II (Ph.D.), Corporate Finance (undergraduate and MBA), Microeconomic Theory I (Ph.D.), Honors Principles of Microeconomics, Mathematical Economics
University of Munich: Advanced Insurance Economics (Ph.D.)
University of Konstanz: Versicherungsökonomie (“Insurance Economics”) (1/2 course)
University of Illinois: Property and Liability Insurance, Corporate Risk Management, Seminar in Insurance (Ph.D.), Corporate Finance (MBA), Calculus I, Calculus II, College Algebra, Trigonometry, Economic Statistics I, Economic Statistics II, Economic Principles
Vanderbilt University: Corporate Finance, Investments, Risk and Insurance, Microeconomic Principles, Intermediate Microeconomics, Statistics, Mathematical Economics, Theory of the Firm (MBA), Microeconomic Theory I (Ph.D.), Microeconomic Theory II (Ph.D.), Seminar in General Equilibrium and Uncertainty (Ph.D.)
PhD Dissertation Committees:
Finance: Richard Fendler (1990), T.Y. Choi (Chair 1990), Howard Finch (1991), Hassan Said (Chair 1993), Kiseok Oh (Chair, 1994), Wondon Lee (Chair, 1994), Larry Fogelberg (Chair, 1996), Doo Woo Nam (2000), Quan Wen (2001), Wei Feng (2002), Sahiba Chadha (2003), Bum Kim (Chair, 2004), Travis Jones (2005), Brandon Cline (2005), Qiming Wang (2005), Qin Lian (Chair, 2006), Sebastian Ebert (University of Bonn, Germany, 2011)
Economics: Robert Hays (1981), Sandra Tyschen (1983), Varun Agarwal (Chair, 1994), Amy Gehlken (Chair, 2003), Wenan Fei (Chair, 2006), Jacqueline Volkman (Univ. of Pennsylvania, 2007)
Mathematics: E. Myron Rigsby (1992)
Accounting: Deborah Archambeault (2000)
Operations Research: Prashant Yadav (2004)
Insurance: Nadine Gazert (Habilitation, University of St. Gallen, Switzerland, 2009).
PhD STUDENT AWARD:
Wenan Fei (2006) won the 2007 Ernst-Meyer Prize presented annually for the best insurance dissertation worldwide
EDITORIAL SERVICES:
Editorial Positions:
Journal of Risk and Insurance, Co-editor (since 2013), Associate Editor 1986-2012.
Geneva Papers on Risk and Insurance Theory, Associate Editor since 1998. Founding Editor, 1990-1998.
Journal of Risk and Uncertainty, Associate Editor since 1992, Special Issue Guest Editor (2014)
Insurance: Mathematics and Economics, Associate Editor since 1984.
Zeitschrift für Die Gesamte Versicherungswissenschaft (German Journal of Insurance) Associate Editor since 1998.
Ad Hoc Reviewing:
Quarterly Journal of Economics
Econometrica
American Economic Review
Journal of Political Economy
Journal of Finance
Review of Economic Studies
Review of Economics and Statistics
International Economic Review
Journal of Mathematical Economics
Economic Journal
Journal of Economic Theory
Management Science
Economic Theory
Rand Journal of Economics
Mathematical Social Sciences
Journal of Economics
Journal of Public Economic Theory
Journal of Economics and Business
Journal of International Money & Finance
Journal of Insurance Issues
Journal of Wine Economics
Journal of Cost Analysis
Communications in Statistics
Economic Inquiry
Journal of Health Economics
Managerial and Decision Economics
Asian-Pacific Journal of Risk & Insurance
Astin Bulletin
International Journal of Industrial Organization
Quarterly Review of Economics and Finance
Economica
American Journal of Agricultural Economics
Journal of Economic Behavior and Organization
European Journal of Industrial Organization
Annals of Operations Research
Review of Finance
Small Business Economics
European Economic Review
The Manchester School
Economics Bulletin
Risk Management and Insurance Review
Theory and Decision
Journal of Financial Services Research
Scandinavian Actuarial Journal
National Science Foundation, proposal reviewer.
MIT Press, book reviewer.
Kluwer Academic Publishers, book reviewer.
Edward Elgar, book reviewer.
Oxford Economic Press, book reviewer.
The Independent Institute, book reviewer.
Princeton University Press, book reviewer.
Prentice-Hall, book reviewer.
RECENT COMMITTEE ASSIGNMENTS:
University: C&BA Dean Search Committee (2010-2011), Burnum Award Committee (2007-present), International Studies (1988-91, Chairman 1990-91), International Programs Review (1992-93), Pi Beta Delta Organizing Committee (1993- 94), Finance Committee (1994-95)
College of Commerce and Business Administration: AQ/PQ AACSB Credentials Committee (2008-10), C&BA Mission Statement Committee (2009-10), Faculty Awards (since 2005, Chairman 2009-10), Promotion and Tenure (1987-1988, Chairman 1988-89, 1992-93, 1997-98, Chairman 1998-99, 2000-01; Accounting Chaired Professor Search (1988, 1990, 1992); International Business (1990-1997); Ph.D./Masters Programs (1990-1996), Faculty Executive Board (1998-99, 2002-03, 2003-04), Associate Dean Search Committee (2004); Endowed Professorship Search (Chair 2005)
Department: Undergraduate Scholarship Committee (since 1987), Promotion and Tenure Committee (1987-88, 1988-89, 1991-92, chairman 1992-93, 1994-95, 2001-02, chairman 2002-03, 2008-09, 2009-10), Policy Committee (1988-89, 1989-90, 2003-04), Finance Recruiting Committee (Chairman 1990-91, 2001-02, 2003-04), Economics Recruiting Committee (2000-01, Chair 2005-06), Finance Ph. D Qualifying Exam (since 1993), Microeconomics PhD Qualifying Exam (since 1997).
PROFESSIONAL MISCELLANEOUS:
Invited Plenary Speaker, Conference on Experimental Finance, University of Tilburg, Netherlands, 2013
Scientific Oversight Committee, Insitut Louis Bachalier,Paris, since 2012
Invited Plenary Speaker, FUR meeting, Georgia State University, 2012
Scientific Committee, Conference on Behavioral Risk and Insurance, University of Munich, 2011, 2012
Invited Plenary Speaker, Chilean Economics Association, Talca, Chile, 2010
Program Organizer, Symposium on Risk Measures and Risk Attitudes, Munich, 2010
Scientific Review Board, Fondation du Risque (evaluates Endowed French Risk-Management Chairs), 2008 – 2011
Program Committee Chair, European Group of Risk & Insurance Economists meeting in Toulouse, France (2008)
Scientific Staff Member, CoFE (Center of Finance and Econometrics), Konstanz, Germany (2003-present)
Organizing Board, European Group of Risk & Insurance Economists (2002-2003)
Advisory Board to the Commissioner, Alabama Department of Insurance (2001-2008)
Founding member Board of Directors for the Excalibur Foundation for Insurance Education (2000-2007)
Fulbright Scholar Host for Professor Mounira Ben-Arab, University of Tunis (Tunisia), (Fall 2001)
Jurist for Global Reinsurance’s Lumina Awards (2001)
Advisor to Revisions Committee for the Casualty Actuarial Society and Society of Actuaries Actuarial Exams (1995)
Served as Hearings Officer for the State of Alabama in NCCI Workers-Compensation-Insurance Rate Filing (1993)
Invited Opening Plenary Speaker at the German Insurance Association Meeting, Hamburg (1993)
Member of Alabama Task Force for Continuing Education Requirements in Insurance (1994-98)
Jurist for Ph.D. Exam in Finance at the Intercollegiate Center for Management Science (CIM) in Brussels (1990)
Presentation on "Workers Compensation" to Regional Reporters Workshop (1991)
Co-organizer, Insurance Workshop for high-school teachers, Insurance Education Foundation, (1992-1999)
Guest Lecturer for joint German/History course on German Unification and the Future of Europe (1992)
Taught voluntary 16-hour PhD course on "Insurance with Multiple Risks" at the University of Munich (1992)
Attended 3-day workshop in Chicago on Business Ethics, sponsored by Arthur Andersen & Co (1988)
PERSONAL MISCELLANEOUS:
Cottondale Dixie Youth League, Baseball Coach (2002-09)
YMCA Youth League, Basketball Coach (2005-2006)
Board of Directors, Friends of Hurricane Creek (2001-07, Treasurer 2004-07)
President, Canyon Lakes Neighborhood Association (2000-2004)
"Commandeur d'Honor" in the Wine Society of the Graves & Medoc, Bordeaux, France (1994)
Graduate of Porsche-Skip Barber Racing School (1989)
