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Michael R. BayeAmerican economist and writer
Country:
 USA |
Content:
- Michael Bay, Economist and Author
- Early Life and Education
- Academic Career
- Research Interests
- Equilibrium Strategies in Network Industries
- Consulting and Advising
- Honors and Recognitions
- Professional Affiliations
Michael Bay, Economist and Author
Michael Bay is a renowned American economist and author who has made significant contributions to the field of business economics.
Early Life and Education
Born in 1958, Bay earned his Bachelor of Science in Economics from Texas A&M University in 1980. He pursued his graduate studies at Purdue University, obtaining his Master of Arts in Economics in 1981 and his PhD in Economics from the Krannert School of Management in 1983.
Academic Career
Bay joined the faculty of Indiana University's Kelley School of Business in 1997 as a Professor of Business Economics and Public Policy. He has held visiting professorships at prestigious universities worldwide, including Cambridge University, Oxford University, Erasmus University Rotterdam, and the University of Bonn.
Research Interests
Bay's research primarily focuses on the impact of pricing strategies on consumer welfare and firm profitability. His early work examined the role of reference-price indexing, where firms charge different prices for the same product depending on consumers' initial price expectations. His later research demonstrated how cost-of-living and wage indices could measure the impact of the "bracket creep" phenomenon on consumer well-being.
Equilibrium Strategies in Network Industries
Using game theory and industrial organization principles, Bay explores equilibrium strategies in network industries, mergers, auctions, and contests. His research in this area focuses on pricing strategies in oligopolistic markets where consumers perceive the products offered by different firms as substitutes.
Consulting and Advising
Bay also serves as a Special Consultant for NERA Economic Consulting. In addition, he has served as an economic policy advisor to the Bureau of Economics at the Federal Trade Commission from 2007 to 2008.
Honors and Recognitions
Bay has received numerous awards for his teaching and research, including the Kelley School of Business Outstanding Researcher Award (1999-2000, 2003-2004) and the Teaching Excellence Award (1997-1998, 1998-1999, 1999-2000).
Professional Affiliations
Bay is an editor of the Journal of Economics & Management Strategy and has held leadership roles in various professional organizations, including the Industrial Organization Society and the Econometric Society.
