Karl Schmedders

Academic Positions

2008 – present Professor of Quantitative Business Administration, University of Zurich

2005 – 2008    Associate Professor of Managerial Economics and Decision Sciences with tenure, Kellogg School of Management, Northwestern University

2001 – 2005    Associate Professor of Managerial Economics and Decision Sciences, Kellogg School of Management, Northwestern University

1998 – 2001    Assistant Professor of Managerial Economics and Decision Sciences, Kellogg School of Management, Northwestern University

1996 – 1998    Visiting Fellow, Hoover Institution, Stanford

1995 – 1996    Acting Instructor and Teaching Affiliate, Dept. of Operations Research, Stanford University

Education

1996  Ph.D., Operations Research, Stanford University

1992  M.S. (GPA 4.0), Operations Research, Stanford University

1990  Vordiplom [German bachelor’s degree equivalent] with highest honors (ranked first in class of 350), Wirtschaftsingenieurwesen [Business Engineering], Universität Karlsruhe, Germany.

Published Articles

“Tackling Multiplicity of Equilibria with Gröbner Bases,” with Felix Kubler, forthcoming in Operations Research.

“Uniqueness of Steady States in Models with Overlapping Generations,” with Felix Kubler, forthcoming in the Journal of the European Economic Association.

“Non-Parametric Counterfactual Analysis in Dynamic General Equilibrium,” with Felix Kubler, forthcoming in Economic Theory.

“Competitive Equilibria in Semi-Algebraic Economies,” with Felix Kubler, Journal of Economic Theory, 145 (2010) 301 – 330.

“Numerical Optimization Methods in Economics,” in The New Palgrave: A Dictionary of Economics, 2nd Edition, 2008.

“Two-Fund Separation in Dynamic General Equilibrium,” Theoretical Economics, 2 (2007) 135 – 161.

“On Price Caps Under Uncertainty,” with Robert L. Earle and Tymon Tatur, Review of Economic Studies, 74 (2007) 93 – 111.

“Reply to: Asset-Trading Volume with Dynamically Complete Markets and Heterogeneous Agents: Comment,” with Kenneth L. Judd and Felix Kubler, Finance Research Letters, 3 (2006) 102 – 105.

“Computing Equilibria in Finance Economies with Incomplete Markets and Transaction Costs,” with P. Jean-Jacques Herings, Economic Theory, 27 (2006) 493 – 512. [lead article].

“Approximate versus Exact Equilibria in Dynamic Economies,” with Felix Kubler, Econometrica, 73 (2005) 1205 – 1235.

“Excess Price Volatility and Financial Innovation,” with Alessandro Citanna, Economic Theory, 26 (2005) 559 – 587.

“Effects of Asset Market Structure on Welfare and Trading Volume,” with Kenneth L. Judd and Felix Kubler, in Assets, Beliefs, and Equilibria in Economic Dynamics, Essays in Honor of Mordecai Kurz, ed. by C. D. Aliprantis, K. J. Arrow, P. Hammond, F. Kubler, H.-M. Wu, and N. C. Yannelis, New York: Springer-Verlag, 2004.

“Stationary Equilibria in Asset-Pricing Models with Incomplete Markets and Collateral,” with Felix Kubler, Econometrica, 71 (2003) 1767 – 1793.

“Computational Methods for Dynamic Equilibria with Heterogeneous Agents,” with Kenneth L. Judd and Felix Kubler, in Advances in Economic Theory and Econometrics Volume III, ed. by M. Dewatripoint, L. P. Hansen, and S. J. Turnovsky, New York: Econometric Society, 2003.

“Asset-Trading Volume with Dynamically Complete Markets and Heterogeneous Agents,” with Kenneth L. Judd and Felix Kubler, The Journal of Finance, 58 (2003) 2203 – 2217. [This paper received a nomination for the 2003 Smith-Breeden Prize.]

“Generic Inefficiency of Equilibria in the General Equilibrium Model with Incomplete Asset Markets and Infinite Time,” with Felix Kubler, Economic Theory, 22 (2003) 1 – 15. [lead article]

“The Fibonacci Sequence: Relationship to the Human Hand,” with Andrew Park, John Fernandez and Mark Cohen, The Journal of Hand Surgery, 28 (2003) 157 – 160.

“Recursive Equilibria in Economies with Incomplete Markets,” with Felix Kubler, Macroeconomic Dynamics, 6 (2002) 284 – 306.

“Incomplete Markets, Transitory Shocks, and Welfare,” with Felix Kubler, Review of Economic Dynamics, 4 (2001) 747 – 766.

“Monopolistic Security Design in Finance Economies,” Economic Theory, 18 (2001) 37 – 72.

“Computing Equilibria in Stochastic Finance Economies,” with Felix Kubler, Computational Economics, 15 (2000) 145 – 172.