Associate Professor of Economics

Education:
  • University of Virginia - B.A. - 1988
  • Stanford University - Ph.D. - 1994
Teaching and Research Interests:
  • Law and economics, economic history, industrial organization.
Website and/or personal homepage:
http://www.heinz.cmu.edu/~kclay/

Published Papers: 
  • Migrating to Riches? Evidence from the California Gold Rush
    Journal of Economic History, Forthcoming, December 2008.
    (with: R, Jones)

  • The Effect of Judicial Independence on Courts: Evidence from the American States
    Journal of Legal Studies 35(2), June 2006; 399-440.
    (with: Dan Berkowitz)

  • Order Without Law? Property Rights During the California Gold Rush
    Explorations in Economic History 42(2), April 2005; 155-183.
    (with: Gavin Wright)

  • American Civil Law Origins: Implications for State Constitutions
    American Law and Economics Review 7(1), Spring 2005; 62-84.
    (with: Dan Berkowitz)

  • Bigger May Not Be Better: An Empirical Analysis of Optimal Membership Rules in Peer to Peer Networks
    Information Systems Research 15(2), 2004; 155-174.
    (with: Atip Asvanund, Ramayya Krishnan, Michael Smith)

  • An Empirical Analysis of Network Externalities in Peer-to-Peer Music Sharing Networks
    Information Systems Research 15(2), 2004; 155-174.
    (with: Michael Smith, Atip Asvanund, Ramayya Krishnan)

  • Designing a Better Shopbot
    Management Science 50, 2004; 189-206.
    (with: Alan Montgomery, Kartik Hosanagar, Ramayya Krishnan)

  • Retail Strategies on the Web: Price and Nonprice Competition in the Online Book Industry
    Journal of Industrial Economics, Forthcoming.
    (with: Eric Wolff, Danny Fernandes, Ramayya Krishnan)

  • Prices and Price Dispersion on the Web: Evidence from the Online Book Industry
    Journal of Industrial Economics, Forthcoming.
    (with: Eric Wolff, Ramayya Krishnan)

Working Papers: 
  • Tariff Choice with Consumer Learning: Sorting-Induced Biases and Illusive Surplus
    December, 2006.
    (with: Ronald Goettler)

  • Price Discrimination with Experience Goods: Sorting-Induced Biases and Illusive Surplus
    July, 2006.
    (with: Ronald Goettler)

  • Diffusion of Web-based Services: Evidence from a Midwest Market
    July, 2001.
    (with: Eric Wolff)

Awards:
  • Richard M. Cyert Award for Excellence in the Classroom, B.S., Econmics - 2009-2010
Courses Taught: