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Peter Klibanoff

John L. and Helen Kellogg Professor of Managerial Economics & Decision Sciences Chair of Managerial Economics & Decision Sciences Department at Kellogg School of Management

Schools

  • Kellogg School of Management

Links

    Biography

    Kellogg School of Management

    Professor Peter Klibanoff joined the Kellogg faculty in 1994 after receiving his PhD in Economics from MIT.

    His research interests span a range of topics in economic theory. Some topics of special interest include decision theory, especially issues related to modeling decision making under uncertainty and ambiguity; optimal pricing and regulation; game theory including mechanism design; and asset pricing. His research has appeared in leading journals such as the American Economic Review, Econometrica, Journal of Economic Theory, Journal of Finance, Theoretical Economics and the Review of Economic Studies.

    He teaches competitive strategy and statistics at the MBA level and decision theory at the doctoral level. His MBA statistics textbook (Managerial Statistics: A Case-Based Approach) is published by South-Western Cengage Learning (formerly Thomson South-Western).

    Research Interests

    Economic theory, including: decision theory and issues related to modeling decision making under uncertainty and ambiguity; optimal pricing and regulation; game theory; mechanism design; asset pricing; and behavioral economics.

    Education

    • PhD, 1994, Economics, Massachusetts Institute of Technology
    • BA, 1990, Applied Mathematics, Harvard University, Summa Cum Laude

    Academic Positions

    • Professor, Managerial Economics and Decision Sciences, Kellogg School of Management, Northwestern University, 2014-present
    • Associate Professor, Managerial Economics and Decision Sciences, Kellogg School of Management, Northwestern University, 2000-2014
    • Assistant Professor, Managerial Economics and Decision Sciences, Kellogg School of Management, Northwestern University, 1994-2000

    Awards

    • US-Israel Binational Science Foundation Grant 2014350 "Dynamic Games with Ambiguity" (joint with Eran Hanany, Tel Aviv University), US-Israel Binational Science Foundation, Oct 2015-2021
    • Visiting Fellow, ZiF (Center for Interdisciplinary Research), Bielefeld University, March-June 2015
    • Kellogg Chairs' Core Course Teaching Award, Kellogg School of Management, 2013-2014
    • Invited Visiting Professor of Economics, University of Paris I and University of Cergy-Pontoise, June 2013
    • US-Israel Binational Science Foundation Grant 2006264 "Updating Preferences under Ambiguity" (joint with Eran Hanany), US-Israel Binational Science Foundation, October 2007-October 2012
    • Kellogg Chairs' Core Course Teaching Award, Kellogg School of Management, 2006-2007
    • Invited Visiting Professor of Economics, University of Paris I, October 2003
    • Kellogg Chairs' Core Course Teaching Award, Kellogg School of Management, 1997-1998

    Teaching Interests

    Competitive strategy, managerial statistics, decision theory, microeconomics

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    Cases

    Schmedders, Karl, Peter Eso, Peter Klibanoff and Graeme Hunter. 2006. Orangia Highways (B). Case 5-106-007(B) (KEL186).

    In Case (B) models for computing optimal bids in highway procurement auctions are developed from the perspective of the bidders.

    Schmedders, Karl, Peter Eso, Peter Klibanoff and Graeme Hunter. 2007. Pedigree vs. Grit: Predicting Mutual Fund Manager Performance. Case 5-407-755 (KEL396).

    An asset management company must replace the manager of its two signature mutual funds, who is about to retire. Two candidates have been short-listed. The management team is divided and cannot decide which of the two candidates would make the better mutual fund manager. The retiring manager presents a linear regression model to examine success factors of mutual fund managers. This linear regression is the starting point for the subsequent analysis.

    Schmedders, Karl, Peter Eso, Peter Klibanoff and Graeme Hunter. 2006. Orangia Highways (A). Case 5-106-007(A) (KEL185).

    The decision maker is in charge of procurement auctions at the department of transportation of Orangia (a fictitious U.S. state). Students are asked to assist him in estimating the winning bids in various auctions concerning highway repair jobs using data on past auctions. The decision maker is faced with various professional, statistical, and ethical dilemmas.

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