CURRICULUM VITAE
September 2008
MICHAEL J. P. MAGILL
Department of Economics,
University of Southern California
Los Angeles, California 90089-0253
Tel: 310-740-2104 (O), 310-838-0978 (H)
email: magill@usc.edu
Fields of Specialization
Economics of Financial Markets and Monetary Theory;
Economics of Uncertainty; Dynamic Economics.
Theory of Incomplete Markets
Academic Background
1956-1961 Eton College, England
1961-1964 Cambridge University, England (B. A., 1964)
1964-1968 Brown University, Providence, RI (Ph.D., 1970)
1968-1975 Assistant Professor, Indiana University
1976-1979 Associate Professor (with tenure), Indiana University
1977 Milton Friedman Fellow, University of Chicago (Spring 1977)
1977-1978 Visiting Associate Professor, Northwestern University
1978-1979 Visiting Associate Professor, Stanford University
1979-1981 Associate Professor, University of Southern California
1981- Professor, University of Southern California
1985-1986 Visiting Research Fellow, CEPREMAP, Paris & Visiting Professor, Universite de Paris II
1985-1988 Visiting Research Fellow, Laboratoire d'Econometrie de l'EcolePolytechnique, Paris,
Visiting Professor, Universite de Paris IX, Dauphine,
Feb. 1990 Visiting Professor, Institute of Economics, University of Copenhagen
Spring 1990 Visiting Professor, Department of Economics, University of Bonn Fall 1994,
1990-1998 Visiting Professor, Universite de Paris II
Awards and Honors
National Association of Mutual Savings Banks Award, 1965
Earhart Foundation Fellowship, 1966
Fellow of Econometric Society, 2000
Societies
American Economic Association
Econometric Society
American Mathematical Society
Society for Industrial and Applied Mathematics
American Academy of Political and Social Science
Editorial Responsibilities
Associate Editor, Journal of Mathematical Economics
Editorial Board, Economic Theory
Editorial Board, Acta Applicandae Mathematicae
¡@
PUBLICATIONS
¡@
BOOKS
On a General Economic Theory of Motion
Springer-Verlag, New York, 1970.
Theory of Incomplete Markets ,Volume 1, with M.Quinzii, Cambridge: MIT Press, 1996.
Incomplete Markets, Volume 1, Finite Horizon Economies, with Martine Quinzii, International Library of Critical Writings in Economics, Edward Elgar Publishing Company, Cheltenham, 2008
¡@
Incomplete Markets, Volume 2, Infinite Horizon Economies, with Martine Quinzii, International Library of Critical Writings in Economics, Edward Elgar Publishing Company, Cheltenham, 2008
¡@
ARTICLES
¡§The Duality of the Price and Technology Sets,¡¨Metroeconomica, Vol. XXVI,1974, pp.63-85.
¡§Dynamics Under Uncertainty,¡¨' with William A. Brock, Econometrica, Vol. 47, 1979, pp. 843-868.
¡§The Stability of Equilibrium¡¨, International Economic Review, Vol. 20,1979, pp. 577-597.
¡§On Cyclical Motion in Dynamic Economics,¡¨ Journal of Economic Dynamics and Control, Vol. 1, 1979, pp. 199-218.
¡§Infinite Horizon Programs,¡¨ Econometrica, Vol 49,1981, pp. 679-711.
¡§An Existence Criterion for Models of Resource Allocation Over an Infinite Horizon,¡¨ Economics Letters, Vol. 5, 1980, pp.209-213.
¡§An Equilibrium Model of Risk and Investment,¡¨ Journal of Mathematical Analysis and Applications, Vol. 92, 1983, pp.507-523.
¡§Understanding Futures Markets,'' Empirica, Journal of the Austrian Economic Association, Vol. 2, 1985, pp. 125-145.
¡§On the Qualitative Properties of Futures Market Equilibrium,'' with Manfred Nermuth, Journal of Economics, Vol.46, 1986, pp. 233-252.
¡§Allocation of Aggregate and Individual Risks through Financial Markets,'' with Wayne Shafer, in Equilibrium and Dynamics, Essays in Honor of David Gale, M. Majumdar, ed.
¡§The Non-Neutrality of Money in a Production Economy with Nominal Assets'' with M. Quinzii, in Equilibrium Theory and Applications: Proceedings of the Sixth International Symposium of Economic Theory and Econometrics, W.A. Barnett (et al., editors),Cambridge University Press,1991, pp. 31-64.
¡§Infinite Horizon Incomplete Markets'' with M. Quinzii, Econometrica , Vol 62, 1994, pp.853-880.
¡§Entrepreneurship, Increasing Returns and Diversification'', forthcoming in Volume in Honor of Herbert Scarf, edited by J. Shoven.
¡§Incentives and Risk Sharing in a Stock Market Equilibrium¡¨ with M. Quinzii, in Studies in Economic Theory , Volume 8, Current Trends in Economics: Theory and Applications, edited by A. Alkan and N.C. Yannelis, Springer Verlag, 1998.
¡§Common Shocks and Relative Compensation¡¨, with M. Quinzii, Annals of Finance,2006, pp 229-252.
Book Review
Journal of Economics ,Vol 63, 1996, pp.114-118 ; ``Speculative Bubbles, Speculative Attacks and Policy Switching'' by R.P. Flood and P.M. Garber.
Working Papers
¡@
¡§A Generalization of the Borsuk-Ulam Theorem'', with M. Hirsch.
¡§Incomplete Markets: Preliminary Concepts'' with M. Quinzii, MRG Discussion Paper, Nov. 1989.
¡§Incentives and Risk Sharing in a Stock Market Equilibrium'', with M.Quinzii
¡§On a Class of General Equilibrium Models with Incentives¡¨, with M. Quinzii, forthcoming in Essays in Honor of A-M. Fericilli, Economica.
¡@
Invited Lectures
¡@
Equilibre General et Marches Incomplets, University of Paris I,
Spring 1986.
Equilibre General avec Marches Incomplets, University of Paris IX,
1986, 1987, 1988.
Lectures on Incomplete Markets, with M. Quinzii and W. Shafer,
University of Bonn, BOWO, 1988.
Lectures on General Equilibrium with Incomplete Markets, with M.
Quinzii and W. Shafer, University of Copenhagen, February 1990.
Lectures on Incomplete Markets, with M. Quinzii and W. Shafer,
University of Bonn, March 1990,
Equilibre General, Marches Incomplets et La Theorie Monetaire,
University of Paris II, May 1994, 1995.
Lecture Series, Incitations et Partage des Risques a Travers les Marches
Financiers , Colloque International, University of Paris II, May, 1997.
Invited Lecture, Incentives and Risk Sharing in a Stock Market
Equilibrium, Bogazici Fest on Economic Design and Management,
Bogazici University, Turkey, June 13, 1997.
Invited Lecture, The Stock Market and Intergenerational Transfers, XII ISER (International School of Economic Research) Workshop on General Equilibrium: Problems, Prospects, and Alternatives, Certosa di Pontigniano, Sienna, Italy, July 6-10, 1999.
Invited Lecture, La Theorie des Marches Incomplets, for Colloque
International Annee 2000, Mathematiques et Autres Champs du
Savoir, Ecole Normal Superieur Conference, , Paris, May 22-23,
2000.
Institut Finance Dauphine Lecture, A Statistical Approach to General Equilibrium, Workshop on Risk: Individual and Collective Decision Making, Institut Finance Dauphine, Paris, December 19, 2007.
Selected Presentations (from 2000)
Participated in Allied Social Science Association Millenium Meeting, and presented paper¡¨Equity and Efficiency in a General Equilibrium Model with Moral Hazard¡¨ Boston, January 7-9, 2000.
Presented Seminar ¡§The Role of the Stock Market in the Overlapping Generations Model with Production¡¨, Theory Workshop, Rice University, February 18, 2000.
Presented Invited Lecture Series ¡§ Equilibre General et Marches Financers ¡¨ University of Paris II, Paris, May 4-16, 2000.
Invited Speaker for the Colloque International Annee 2000, Mathematiques et Autres Champs du Savoir, Ecole Normal Superieur Conference, ¡§La Theorie des Marches Incomplets¡¨, Paris, May 22-23, 2000.
Participated in Summer Meeting of Econometric Society, University of Washington and presented paper ¡§Equity, Options and Efficiency in the Presence of Moral Hazard¡¨, August 10-16, 2000.
Participated in Cowles Conference on Incomplete Markets, and presented paper ¡§Demography and the Predictability of the Stock Market¡¨, Yale University, April 27-29, 2001.
Participated in SITE Summer Workshop on General Equilibrium: Foundations and Applications to Financial Markets, and presented paper ¡§Demography and the Stock Market¡¨, Stanford University, July 16-20, 2001.
Participated in Stoneybrook Conference on Strategic Market Games and Incomplete Markets, and presented paper ¡§Demography and the Longrun Predictability of the Stock Market¡¨, State Universiy of New York, Stoneybrook, July 22-24, 2001.
Presented Seminar ¡§ Demography and the Predictability of the Stock Market¡¨, Theory Workshop, Arizona State University, October 26, 2001
Participated in NBER General Equilibrium Conference, University of Minnesota, and presented paper ¡§The Stock Market and the Overlapping Generations Model of Production¡¨, May 10-12, 2002.
Participated in SITE Summer Workshop on General Equilibrium and Financial Markets, and presented paper ¡§Indeterminacy of Equilibrium in Stochastic Overlapping Generations Models¡¨, Stanford University, July 29-August 3, 2002.
Presented paper ¡§Demography and the Long-run Predictability of the Stock Market¡¨, Cowles Foundation Seminar, Yale University, November 13, 2002.
Participated in SWET Conference, UCLA Conference Center, Lake Arrowhead, and presented paper ¡§Demography and the Predictability of the Stockmarket¡¨, February 28-March2, 2003.
Presented Seminar ¡§Demographic Factors Underlying the Stock Market¡¨, Dynamics Seminar, University of Southern California, April 2, 2003.
Participated in International Conference on General Equilibrium Theory and its Applications, Economic Theory, Rhodes, Greece; organized sessions on Incomplete Markets, and presented paper ¡§Monetary Equilibrium of Stochastic Overlapping Generations Models¡¨, June 30-July7, 2003.
Participated in the Brookings Panel on Economic Activity and presented paper
Presented paper ¡§Demography and the Long-run Predictability of the Stock Market¡¨, UCLA Theory Workshop, February 5, 2004
Presented Seminar ¡§How Demographic Forces Influence the Stock Market¡¨, Economic Theory Seminar, University of Southern California, March 8, 2004.
¡§Demography and the Long-run Predictability of the Stock Market¡¨, Brookings Institution, Washington, DC, March 25-27, 2004.
Presented Seminar ¡§Equilibrium with Moral Hazard¡¨, Economic Theory Seminar, University of Southern California, March 28, 2005.
Presented Seminar, ¡§An Equilibrium Model of Managerial Equilibrium¡¨, University of Paris, June 6, 2005.
Participated in Public Economic Theory Conference, Marseilles and presented paper ¡§Equilibrium Model of Managerial Compensation¡¨, June 16-18, 2005.
Participated in Society for the Advancement of Economic Theory Conference, Vigo, Spain, and presented paper ¡§Equilibrium with Moral Hazard¡¨ and organized session on Incomplete Markets, June 27-July 2, 2005.
Participated in Midwest Theory Conference, and presented paper ¡§Relative Compensation Schemes¡¨, University of Kansas, October 14-16, 2006.
Participated in Economic Theory Conference, Purdue University and presented paper ¡§An Equilibrium Model of Managerial Compensation¡¨, October 17-18, 2006.
Participated in General Eqilibrium Conference in Honor of Gerard Debreu, and presented paper ¡§A Normative Model of Stock Market Equilibrium¡¨, October 20-23, 2006.
Presented seminar ¡§Market Value Maximization & the Theory of the Firm¡¨, Theory Workshop, University of Alicante, Spain, May 30, 2006.
Presented seminar ¡§An Equilibrum Model of Managerial Compensation¡¨, Theory Workshop, CORE, University of Louvain-la-Neuve, June 5, 2006.
Participated in Public Economic Theory Conference, Hanoi, Vietnam, and presented paper ¡§Market Value Maximization & the Theory of the Firm¡¨, July 31-August 2, 2006.
Presented seminar ¡§On a New Approach to General Equilibrium with Production¡¨, Economic Theory Seminar , University of Southern California, October 16, 2006.
Presented seminar ¡§A Statistical Approach to General Equilibrium with Production¡¨, Economic Theory Workshop, Rice University, November 3, 2006.
Presented seminar ¡§On a New Approach to General Equilibrium with Production¡¨, Center for Applied Mathematics Seminar, University of Southern California, November 20, 2006.
Participated in General Equilibrium Caress-Cowles Conference and presented paper ¡§A Statistical Approach to General Equilibrium with Production¡¨, Yale University, April 20-22, 2007.
Participated in XVIth European Workshop on General Equilibrium, and presented paper ¡§A Statistical Approach to General Equilibrium with Production¡¨, Warwick University, England, June 8-11, 2007.
Participated in Economic Theory Conference on General Equilibrium Theory and its Applications, and presented paper ¡§A Statistical Approach to General Equilibrium with Production¡¨, Kos, Greece, June 17-24, 2007.
Participated in NBER General Equilibrium Conference, Northwestern University, and presented paper ¡§A Statistical Approach to General Equilibrium with Production¡¨, October 25-27, 2007.
Institut Finance Dauphine Lecture, ¡§A Statistical Approach to General Equilibrium¡¨ at Workshop on Risk: Individual and Collective Decision Making, Institut Finance Dauphine, Paris, December 19, 2007.
Participated in Midwest Economic Theory Conference & Conference in Honor of Wayne Shafer, and presented paper ¡§ A Comoment Criterion for Firms for Two Canonical Models of Production under Uncertainty, University of Illinois, May 2-4, 2008.
Presented seminar ¡§ A Comoment Criterion for Firms in a Stochastic General Equilibrium Model¡¨, Economic Theory Workshop, University of California, Davis, May 6, 2008.
Participated in XVIIth European Workshop on General Equilibrium and presented paper ¡§ A Comoment Criterion for Firms in a Stochastic General Equilibrium Model¡¨, University of Salerno, Paestum, Italy, June 13-15, 2008.
Invited Lecture at Workshop on Incomplete Market Economies with Production, ¡§Production under Uncertainty and Comoment Objectives for Firms¡¨, Institute for Advanced Studies, Vienna, July 1-2, 2008.
¡@
