Stephen E. Spear

View Printable Version

Professor of 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: 

• Optimum Savings and Optimal Growth: the Cass-Malinvaud-Koopmans Nexus
  September, 2011.
  (with: Warren Young)
  
  
• Sequential incompleteness and dynamic suboptimality in stochastic OLG economies with production
  July, 2011.
  (with: Fabrizio Orrego)
  
  
• Learning Competitive Equilibrium
  December, 2002.
  (with: Sean Crockett, Shyam Sunder)
  
  

Boards:

• Journal of Economic Theory
• Journal of Economic Dynamics & Control
• Macroeconomic Dynamics

Courses Taught:

• Microeconomics II (47801)
  (Ph.D. Program)
  • 2013, Mini 2 (Section: A)
  • 2012, Mini 2 (Section: A)
  • 2011, Mini 2 (Section: A)
  • 2010, Mini 2 (Section: A)
  • 2009, Mini 2 (Section: A)
  • 2008, Mini 2 (Section: A)
  • 2007, Mini 2 (Section: A)

• Dynamic Competitive Analysis (47803)
  (Ph.D. Program)
  • 2013, Mini 3 (Section: A)
  • 2012, Mini 3 (Section: A)
  • 2010, Mini 3 (Section: A)
  • 2009, Mini 3 (Section: A)
  • 2008, Mini 3 (Section: A)

• Global Electronic Markets (73469)
  (B.S. in Economics Program)
  • 2013, Fall (Section: A)
  • 2012, Fall (Section: A)
  • 2011, Fall (Section: A)
  • 2010, Fall (Section: A)
  • 2009, Fall (Section: A)
  • 2007, Fall (Section: A)

• Economics of Ideas: Growth, Innovation, and Entrepreneurship (73474)
  (B.S. in Economics Program)
  • 2013, Spring (Section: A)
  • 2012, Spring (Section: A)
  • 2011, Spring (Section: A)
  • 2010, Spring (Section: A)
  • 2008, Spring (Section: A)