Stephen E. Spear


Professor of Economics

Education:
  • Beloit College - A.B. - 1974
  • University of Pennsylvania - Ph.D. - 1982
Areas of Expertise:
  • Economics
Teaching and Research Interests:
  • Microeconomic theory, dynamic general equilibrium theory, mathematical economics, experimental economics, economics of electronic commerce.
Website and/or personal homepage:
http://econ.gsia.cmu.edu/spear/home.html

Published Papers: 
  • Endogenous Market Incompleteness Without Market Frictions: Dynamic Suboptimality of Competitive Equilibrium in Multiperiod Overlapping Generations Economies
    Journal of Economic Theory, November 2010.
    (with: Espen Henriksen)

  • The Electricity Market Game
    Journal of Economic Theory 109, 04/01/2003; 300-323.

  • When to Fire a CEO: Optimal Termination in Dynamic Contracts
    Journal of Economic Theory 120-2, 02/01/2005; 239-256.
    (with: Cheng Wang)

  • Endogenous Strategic Business Cycles
    Journal of Economic Theory 81(97), July 1998.
    (with: Aditya Goenka, David Kelly)

  • Shaking the Tree: An Agency Theoretic Model of Asset Pricing
    Annals of Finance 1, 01/01/2005; 51-72.
    (with: Jamsheed Shorish)

  • Expectationally-driven Market Volatility: An Experimental Study
    Journal of Economic Theory 61(1), 1993.
    (with: Ramon Marimon, Shyam Sunder)

  • Stationary Equilibria with Incomplete Markets and Overlapping Generations
    International Economic Review 33(3), 1992; 495-512.
    (with: Richard Green, Dave Cass)

  • Evaluating Dimensionality in Spatial Voting Models
    Mathematical and Computer Modeling 16(8/9), 1992.
    (with: Keith Poole, Fallaw Sowell)

  • The Market Game: Existence and Structure of Equilibrium
    Journal of Mathematical Economics 21, 1992.
    (with: Jim Peck, Karl Shell)

  • Stationary Equilibria with Incomplete Markets and Overlapping Generations
    International Economic Review 33(3), 1992.
    (with: Dave Cass, Rick Green)

  • Growth, Externalities and Sunspots
    Journal of Economic Theory 54(1), 1991.

  • Existence and Local Uniqueness of Functional Rational Expectations Equilibria
    Journal of Economic Theory, 1988.

  • On Repeated Moral Hazard with Discounting
    Review of Economic Studies, 1987.
    (with: Sanjay Srivastava)

Working Papers: 
Boards:
  • Journal of Economic Theory
  • Journal of Economic Dynamics & Control
  • Macroeconomic Dynamics