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Professor of Economics
Arizona State University
ed dot schlee at asu dot edu
Research Interests
Economics of Uncertainty and Information; Normative Criteria under Uncertainty; History of Economic Theory.
Selected Publications
--Money-Metrics in Local Welfare Analysis: Pareto Improvements and Equity, (with M. Ali Khan), Journal of Economic Theory 213 (2023): 105717..
--Money-metrics in applied welfare analysis: a saddlepoint rehabiliation (with M.A. Khan), International Economic Review 63.1 (2022): 189-210.
--Inertia implies disorder: kinks, incompleteness, and transitivity, Pure and Applied Functional Analysis, 6 (2021): 851-855.
--"Insurance as a lemons market: Coverage denials and pooling." Journal of Economic Theory 189 (2020): 105085.
--"On Lionel McKenzie's 1957 Intrusion into 20-th Century Demand Theory," (with M.A. Khan), Canadian Journal of Economics 49 (2016): 589–636.
--"Surplus Maximization and Optimality,'' American Economic Review, 103 (2013): 2585-2611.
--"Optimal Insurance with Adverse Selection," (with H. Chade) Theoretical Economics, 7 (2012): 571-607.
--"Information and the Equity Premium," (with C. Gollier) Journal of the European Economic Association, 9 (2011): 871-902.
--“Another Look at the Radner-Stiglitz Nonconcavity of the Value of Information” (with H. Chade), Journal of Economic Theory 107 (2002): 421-452.
--“Mean-Variance Preferences and Investor Behavior,” (with M. Ormiston), Economic Journal, 111 (2001): 849-861.
--“The Value of Information in Efficient Risk Sharing Arrangements,” American Economic Review, 91 ( 2001): 509-524.
--“Comparative Statics Tests Between Decision Models Under Risk,” (with M. Ormiston), Journal of Mathematical Economics, 32 (1999): 145-166.
--“The Value of Information about Product Quality,” RAND Journal of Economics, 27 (1996): 803-815.
--“Strategic Information Manipulation in Duopolies,” (with L. Mirman and L. Samuelson) Journal of Economic Theory, 62 (1994): 363-384.
--"Marshall, Jevons, and the Expected Utility Hypothesis," History of Political Economy (HOPE), 24 (1992): 729-744. Reprinted in O. Hamouda, and JCR Rowley, eds, Expected Utility, Fair Gambles, and Rational Choice, 1997, ch. 12, pp. 200-218.
Working Papers
--"Measuring welfare: the money-metric, the benefit function, and the distance function,'' (with M. Ali Khan)
--"Money-Metric Complementarity and Normal Demand," (with M. Ali Khan)
--"Prices vs. quantities in the small and in the large with risk aversion and income effects,''
Work in Progress
--"The Willig Condition(s) without Essentiality."
--"The Welfare Theorems for Non-ordered Preferences," (with M. Ali Khan).
Editorial
--Editorial Board, American Economic Review, 2014-17.
--Associate Editor, Journal of Public Economic Theory, 2017-
--Associate Editor, Geneva Papers on Risk and Insurance Theory, 1993-