ERIC BENNETT RASMUSEN

Former Dan R. and Catherine M. Dalton Professor (retired),
Department of Business Economics and Public Policy
Kelley School of Business, Indiana University
Cell: (812) 345-8573. Messaging: [email protected].
Erasmuse@indiana.edu or [email protected]. Website: http://rasmusen.org. Twitter: @erasmuse. Substack: Ericrasmusen.substack.com/.

Last updated: March 23, 2024. URL: http://www.rasmusen.org/vita.htm. I have a short bio online. You can go straight to scholarly articles or amicus briefs from lawsuits.  

" Other pages have lists of abstracts of my published or unpublished papers. "Rasmusen" is pronounced "Rass-muss-un" not "Razz-muse-en", and my name can be spelled in Katakana or Korean.

Education

  • University High School, Urbana, Illinois, 1976
  • B.A. Economics, Yale University, 1980 (magna cum laude)
  • M.A. Economics, Yale University, 1980
  • Ph.D. Economics, Massachusetts Institute of Technology, 1984 ("Essays in Dynamic Nonprice Competition," advisor: Franklin Fisher. 2nd on committee: Joseph Farrell) Franklin Fisher was advised by Carl Kaysen, advised by Edward Mason, advised by Frank Taussig.  

      Employment

  • Cedars Christian School, Bloomington, Indiana: 7th grade math teacher (volunteer) 2021-present.

  • Indiana University, Department of Business Economics and Public Policy, Kelley School of Business:

  • University of California, Los Angeles, John E. Anderson Graduate School of Management: Assistant Professor, 1984-1992.

  • Economics Department and Sloan School, Massachusetts Institute of Technology, 1982-84, Teaching Assistant.

    Visiting Positions

  • Harvard University, Law School (John M. Olin Faculty Fellow) and Economics Department (Visiting Professor) 2014-2015.
  • Oxford University, Nuffield College, visitor 2007-2008.
  • University of Tokyo, Center for International Research on the Japanese Economy and Faculty of Economics: Visiting Professor, 2001.
  • Harvard Law School: John M. Olin Senior Research Fellow in Law and Economics, 2000-2001.
  • Yale Law School: Olin Faculty Fellow, 1991-1992.
  • University of Chicago, Center for the Study of the Economy and the State and Graduate School of Business (now the Stigler Center): John M. Olin Visiting Assistant Professor of Business Economics, 1989-90.  

    Articles

    1. J. Mark Ramseyer & Eric Rasmusen, "Ostracism in Japan," forthcoming, Asian Journal of Comparative Law http://rasmusen.org/papers/ostracism.pdf.

    2. Eric B. Rasmusen, "Incomplete Information in Repeated Coordination Games," Applied Approaches to Societal Institutions and Economics, eds. Woohyung Lee, Tohru Naito, and Yasunori Ouchida, Springer (2018). http://www.rasmusen.org/papers/goodtype-rasmusen.pdf.

    3. J. Mark Ramseyer & Eric B. Rasmusen, ``Identity Politics and Organized Crime in Japan: The Impact of Targeted Subsidies on Burakumin Communities,'' Journal of Empirical Legal Studies. 15(1):192-238 (March 2018). http://www.rasmusen.org/papers/burakumin-ramseyer-rasmusen.pdf.

    4. Richmond Harbaugh and Eric B. Rasmusen, "Coarse Grades," American Economic Journal: Microeconomics. 10(1): 210-235 (February 2018). http://www.rasmusen.org/papers/coarse-harbaugh-rasmusen.pdf.

    5. Christopher Connell and Eric B. Rasmusen, "Concavifying the Quasi-Concave," Journal of Convex Analysis, 24(4): 1239-1262(December 2017) http://rasmusen.org/papers/quasi-connell-rasmusen.pdf (long, econ, version) and http://rasmusen.org/papers/quasi-short-connell-rasmusen.pdf (short, math, version).

    6. Eric B. Rasmusen, ``Law, Coercion, and Expression: A Review Essay on Frederick Schauer's The Force of Law and Richard McAdams's The Expressive Powers of Law.'' Journal of Economic Literature, 55 (3):1098-1121 (September 2017). http://www.rasmusen.org/papers/expressive-law-rasmusen.pdf.

    7. Eric B. Rasmusen, ``A Model of Trust in Quality and North-South Trade,'' Research in Economics, 71: 159-170(2017). http://www.rasmusen.org/published/trade-rasmusen.pdf.

    8. ``Leveraging of Reputation through Umbrella Branding: The Implications for Market Structure,'' Journal of Economics and Management Strategy, 25(2): 259-535 (Summer 2016). http://www.rasmusen.org/published/umbrella.pdf.

    9. J. Mark Ramseyer & Eric Rasmusen, "Lowering the Bar to Raise Up the Bar: Licensing Difficulty and Attorney Quality in Japan," Journal of Japanese Studies, 41(1): 113-142 (2015). http://rasmusen.org/published/barpass-ram-ras.pdf .

    10. J. Mark Ramseyer & Eric Rasmusen, "Exclusive Dealing: Before, Bork, and Beyond," Journal of Law and Economics, 57(S3): S145- S160 (Aug. 2014). http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2308218 .

    11. "Maximization Is Fine, But Based on What Assumptions?" Econ Journal Watch. 11(2): 210-218 (May 2014). http://econjwatch.org/articles/maximization-is-fine-but-based-on-what- assumptions .

    12. "Are Americans More Litigious? Some Quantitative Evidence" (with J. Mark Ramseyer). An American Illness , edited by Frank Buckley, Yale University Press (2013). http://buckleysmix.com/american-illness-4/. http://www.rasmusen.org/published/litigation-ramseyer-rasmusen.pdf .

    13. "First- versus Second-Mover Advantage with Information Asymmetry about the Size of New Markets," (with Young-Ro Yoon). Journal of Industrial Economics, 60: 374-405 (September 2012). Http://rasmusen.org/published/entry-rasmusen-yoon.pdf .

    14. "Internalities and Paternalism: Applying Surplus Maximization to the Various Selves across Time." Social Choice and Welfare, 38: 601-615 (2012). http://www.rasmusen.org/published/2012-Rasmusen-SocChoi.Welfare- internality.pdf.

    15. J. Mark Ramseyer & Eric Rasmusen, "Can the Treasury Exempt Companies It Owns from Taxes? The $45 Billion General Motors Loss Carryforward Rule" The Cato Papers on Public Policy, Vol. I, Article 1, pp. 1-54 (2011) edited by Jeffrey Miron, http://www.cato.org/store/books/cato-papers-public-policy-paperback. .

    16. "Executive Compensation in Japan: Estimating Levels and Determinants from Tax Records" (with Minoru Nakazato and J. Mark Ramseyer). Journal of Economics and Management Strategy, 20: 843--885 (Fall 2011). rasmusen-11JEMS-execpay.pdf.

    17. "The Industrial Organization of the Japanese Bar: Levels and Determinants of Attorney Income," (with Minoru Nakazato and J. Mark Ramseyer). Journal of Empirical Legal Studies, 7: 460--489 (September 2010). Http://www.rasmusen.org/published/jpnbar.nakazato.ramseyer.rasmusen.do c .

    18. "Career Concerns and Ambiguity Aversion," Economics Letters, 108: 175--177 (August 2010). Http://www.rasmusen.org/published/Rasmusen-10-Ec.Letters-ambiguity.pdf .

    19. "Public and Private Firm Compensation Compared: Evidence from Japanese Tax Returns," (with Minoru Nakazato and J. Mark Ramseyer). Korean Economic Review, 25: 5--34 (Summer 2009). Http://www.rasmusen.org/published/exec/nak-ram-rasmusen.unlisted.pdf .

    20. "Convictions versus Conviction Rates: The Prosecutor's Choice," (with Manu Raghav and J. Mark Ramseyer). The American Law and Economics Review, 11: 47--78 (Spring 2009). Http://www.rasmusen.org/published/Rasmusen-09ALER-pros-published.pdf.

    21. "The BLP Method of Demand Curve Estimation in Industrial Organization," in Japanese in Gendai Keizaigaku 1, mikuro- bunseki, edited by Isao Miura and Tohru Naito, Tokyo: Keiso shobo, 2008. ISBN: 978-4-326-50297-4. In English at Http://www.rasmusen.org/published/blp-rasmusen.pdf .

    22. "When Does Extra Risk Strictly Increase the Value of Options?" The Review of Financial Studies, 20: 1647--1667 (September 2007). Http://www.rasmusen.org/published/Rasmusen07-RFS-options. This paper has mistakes. See Huang and Zhang "Some New Results on When Extra Risk Strictly Increases an Option's Value," The Journal of Future Markets, 2013.

    23. J. Mark Ramseyer & Eric Rasmusen, "Recruitment into Managed Courts during Political Chaos: Japan in the 1990s," The Journal of Comparative Economics, 35: 329-345 (June 2007). Http://www.rasmusen.org/published/Rasmusen-07-JCE.90sjudges.pdf .

    24. "Norms and the Law," (with Richard McAdams) Handbook of Law and Economics, vol. 2, eds. A. Mitchell Polinsky and Steven Shavell, chapter 20, pp. 1573-1618. Amsterdam, Elsevier (2007). Http://www.rasmusen.org/published/Rasmusen-07-handbook.norms.pdf .

    25. "Strategic Implications of Uncertainty over One's Own Private Value in Auctions," in the BE Press journal, Advances in Theoretical Economics, Vol. 6: No. 1, Article 7 (2006). http://www.bepress.com/bejte/advances/vol6/iss1/art7. Http://www.rasmusen.org/published/rasmusen-06-bepress-auction.pdf (77).

    26. J. Mark Ramseyer & Eric Rasmusen, "The Case for Managed Judges: Learning from Japan after the Political Upheaval of 1993," University of Pennsylvania Law Review, 154: 1879-1930 (June 2006). Http://www.rasmusen.org/published/rasmusen-06-ramseyer-jpn1993.pdf .

    27. "The Economics of Agency Law and Contract Formation," American Law and Economics Review, 6(2): 369-409 (Fall 2004). pdf Http://www.rasmusen.org/published/rasmusen-04-ALER-agency.pdf .

    28. "Buyer-Option Contracts, Renegotiation, and the Hold-Up Problem," (with Thomas P. Lyon ) The Journal of Law, Economics and Organization, 20: 148-169 (April 2004). http://www.rasmusen.org/published/rasmusen-04-JLEO-incomplete.pdf. .

    29. "An Economic Approach to Adultery Law," Chapter 5, pp. 70-91 of Marriage and Divorce: An Economic Perspective, edited by Antony Dnes and Robert Rowthorn, Cambridge: Cambridge University Press, 2002. Http://rasmusen.org/published/Rasmusen_02.BOOK.adultery.pdf .

    30. "Bertrand Competition under Uncertainty" (with Maarten Janssen), The Journal of Industrial Economics , 50: pp. 11-21 (March 2002). In tex and pdf .

    31. "Can High Prices Ensure Product Quality when Buyers Do Not Know the Seller's Cost? " (with Timothy Perri), Economic Inquiry , 39(4): 561-567 (October 2001). In MS-WORD and pdf .

    32. "Explaining Incomplete Contracts as the Result of Contract- Reading Costs," in the BE Press journal, Advances in Economic Analysis and Policy. Vol. 1: No. 1, Article 2 (2001). http://www.bepress.com/bejeap/advances/vol1/iss1/art2. The working paper version with the two-period model, "A Model of Negotiation, Not Bargaining: Explaining Incomplete Contracts," is available in pdf. A late version is available in tex and pdf .

    33. J. Mark Ramseyer & Eric Rasmusen, "Why Are Japanese Judges So Conservative in Politically Charged Cases?" American Political Science Review , 95(2): 331-344 (June 2001). Data is here. In MS-Word and pdf (104).

    34. "Aphorisms on Writing, Talking, and Listening," Readings in Games and Information, Oxford: Blackwell Publishers, 2001. Http://www.rasmusen.org/GI/reader/writing.pdf .

    35. J. Mark Ramseyer & Eric Rasmusen, "Why Is the Japanese Conviction Rate So High?" Journal of Legal Studies , 30(1): 53-88 (January 2001). Data is here. In ascii and pdf (107).

    36. "The Uneasy Case for the Flat Tax,"(with F. H. Buckley), Constitutional Political Economy, (December 2000) (lead article) 11(4): 295-318. In ascii and pdf .

    37. J. Mark Ramseyer & Eric Rasmusen, "Skewed Incentives: Paying for Politics as a Japanese Judge," Judicature, 83: 190-195 (January/February 2000) (cover article). In ascii and pdf .

    38. "Creating and Enforcing Norms, with Special Reference to Sanctions," (with Richard Posner), International Review of Law and Economics, 19(3): 369--382 (September 1999). See also Chapter 9,"Social Norms, with a Note on Religion," in Frontiers of Legal Theory, edited by Richard Posner, Cambridge, Mass.: Harvard University Press (2001). In ascii and pdf (276).

    39. J. Mark Ramseyer & Eric Rasmusen, "Why the Japanese Taxpayer Always Loses," Southern California Law Review, 72: 571-596 (January/March 1999). Translated and reprinted, Doshite Nihon no nozeisha wa katenai no ka [Why Can't Japanese Taxpayers Win?], in Kohogaku no ho to seisaku: ge [Law and Policy in Public Law: vol. 2] 147 (Mitsuaki Usui, et al., eds., Tokyo: Yuhikaku, 2000). Data is here. Rasmusen-99.SCLR.jpntax.pdf< .

    40. "The Observed Choice Problem in Estimating the Cost of Policies," Economics Letters, (1998) 61(1): 13-15. Rasmusen_98.EC_LET.mchoice.pdf .

    41. "Observed Choice, Estimation, and Optimism about Policy Changes," Public Choice, (October 1998) 97(1-2): 65-91. There is a mistake in one of the explanations, which I point out in some notes that also discuss estimation of intercepts. The state- level data on illegitimacy, Dukakis votes, AFDC, and other correlates is here. Rasmusen_98.PUB_CHOICE.choice.pdf .

    42. "The Economics of Desecration: Flag Burning and Related Activities," The Journal of Legal Studies (June 1998) 27(2): 245-270 (lead article). Rasmusen_98JLS.flag.pdf.

    43. "Mezzanatto and the Economics of Self Incrimination," Cardozo Law Review (May 1998) 19: 1541-1584. Rasmusen_98CARDOZO.mezz.pdf .

    44. "Lifting the Veil of Ignorance: Personalizing the Marriage Contract," (with Jeffrey Stake), Indiana Law Journal (Spring 1998) 73: 454-502. Rasmusen_98.ILJ.marriage.pdf (121).

    45. "Of Sex and Drugs and Rock'n Roll: Law and Economics and Social Regulation," Harvard Journal of Law and Public Policy (Fall 1997) 21: 71-81. Rasmusen_97.HJLPP.Feder.htm.

    46. J. Mark Ramseyer & Eric Rasmusen, "Judicial Independence in Civil Law Regimes: Econometrics from Japan," The Journal of Law, Economics, and Organization (1997) 13: 259--286 (lead article). Translated and reprinted, Nihon ni okeru shiho no dokuritsu wo kensho suru [Examining Judicial Independence in Japan], Rebaiasan [Leviathan: The Japanese Journal of Political Science] (1998) 22: 116-149 (scanned here). Data is here. In tex or pdf (146).

    47. "The Learning Curve in a Competitive Industry" (with Emmanuel Petrakis and Santanu Roy ), The RAND Journal of Economics (Summer 1997) 28: 248-268. In tex or pdf . Proofs available in tex or pdf .

    48. "Choosing among Signalling Equilibria in Lobbying Games," Public Choice (April 1997) 91: 209-214.
      In tex or pdf .

    49. "Signal Jamming and Limit Pricing: A Unified Approach, " in Public Policy and Economic Analysis, Moriki Hosoe and Eric Rasmusen, editors, Fukuoka, Japan: Kyushu University Press, 1997. ISBN: 4873784700. Http://rasmusen.org/published/Rasmusen_97BOOK.jamming.pdf .

    50. "Nuisance Suits," in The New Palgrave Dictionary of Economics and the Law , London: Macmillan Press, Peter Newman, editor. ISBN 1-56159-2153, May 1998. Http://rasmusen.org/published/Rasmusen_98.BOOK.nuisance.pdf .

    51. "A Theory of Trustees, and Other Thoughts," in Public Debt and its Finance in a Model of a Macroeconomic Policy Game: Papers Presented at a Workshop held in Antalya, Turkey on October 10-11, 1997. , ed. by Tahire Akder. See also the discussion in Measuring Judicial Independence. Available, including a post-publication postscript, at Http://rasmusen.org/published/Rasmusen_98.BOOK.trustees.NEW.pdf .

    52. "The Posner Argument for Transferring Health Spending from Old Women to Old Men," Economics Letters (December 1996) 53: 337-339. In tex or pdf .

    53. "Stigma and Self-Fulfilling Expectations of Criminality," The Journal of Law and Economics (October 1996) 39: 519-544. In tex or pdf (159).

    54. "Predictable and Unpredictable Error in Tort Awards: The Effect of Plaintiff Self Selection and Signalling," The International Review of Law and Economics (September 1995) 15: 323-345. In tex or pdf .

    55. "How Optimal Penalties Change with the Amount of Harm," The International Review of Law and Economics (1995) 15: 101-108. In tex or pdf .

    56. "Judicial Legitimacy: An Interpretation as a Repeated Game," The Journal of Law, Economics, and Organization (April 1994) 10: 63--83. In tex or pdf (105).

    57. "Cheap Bribes and the Corruption Ban: A Coordination Game among Rational Legislators," Public Choice (1994) 78: 305-327 (with J. Mark Ramseyer ). Reprinted, The Economics of Corruption and Illegal Markets (Gianluca Fiorentini & Stefano Zamagni, eds.: Edward Elgar, 1999). In tex or pdf (101).

    58. "Mutual versus Unilateral Mistake in Contracts," The Journal of Legal Studies (June 1993) 22: 309-343 (with Ian Ayres). In tex or pdf .

    59. "Lobbying when the Decisionmaker Can Acquire Independent Information," Public Choice (1993) 77: 899- 913. In tex or pdf .

    60. "Are Equilibrium Strategies Unaffected by Incentives? " The Journal of Theoretical Politics (July 1992) 4: 343-357 (with Jack Hirshleifer). Reprinted in The Dark Side of the Force: Foundations of the Economic Theory of Conflict, edited by Jack Hirshleifer, Cambridge: Cambridge University Press (2001). http://rasmusen.org/pacioli/published/hirshleifer- rasmusen.92.jtp.mixed.pdf .

    61. "An Income-Satiation Model of Efficiency Wages," Economic Inquiry (July 1992) 30: 467-478. In tex or pdf .

    62. "Managerial Conservatism and Rational Information Acquisition," Journal of Economics and Management Strategy (Spring 1992) 1: 175-202. In tex or pdf .

    63. "The Strategy of Sovereign Debt Renegotiations," The Handbook of Country Risk Analysis , edited by Ronald Solberg. London: Routledge Press, 1992. ISBN: 0-415-07855-5. Http://rasmusen.org/published/Rasmusen_92BOOK.debt.pdf .

    64. "Game Theory in Finance," The New Palgrave Dictionary of Money and Finance , edited by John Eatwell, Murray Milgate, and Peter Newman. New York: Stockton Press, 1992. Http://rasmusen.org/published/Rasmusen_92PALGRAVE.finance.pdf .

    65. "Folk Theorems for the Observable Implications of Repeated Games," Theory and Decision (March 1992) 32: 147-164. In pdf .

    66. "Heterogeneous Players and Specialized Models," Rationality and Society (January 1992) 4: 83-94. Reprinted as pp. 275-284 of Polycentric Games and Institutions, edited by Michael McGinnis, Ann Arbor: University of Michigan Press, 2000. Available in tex or pdf .

    67. "Defining the Mean-Preserving Spread: 3-pt versus 4-pt," pp. 53-60 of Decision Making under Risk and Uncertainty: New Models and Empirical Findings , edited by John Geweke. Amsterdam: Kluwer, 1992 (with Emmanuel Petrakis ). ISBN: 0-7923-1904-4. Http://rasmusen.org/published/Rasmusen_92BOOK.mps.pdf .

    68. "Recent Developments in the Economics of Exclusionary Contracts," Chapter 16 (pp. 371--388), Canadian Competition Law and Politics at the Centenary , edited by R. Khemani and W. Stanbury. Halifax: The Institute for Research on Public Policy, 1991. Http://rasmusen.org/published/rasmusen-91recent-developments.pdf .

    69. "Naked Exclusion," American Economic Review, (December 1991) 81: 1137-1145 (with J. Mark Ramseyer and John Wiley). Rasmusen_91AER.exclusion.pdf (See also our reply to a comment/extension/correction by Siegel and Whinston (AER, March 1990: 90: 310-311) and longer comments (ascii)) (483).

    70. "Extending the Economic Theory of Regulation: The Form of Policy," Public Choice, (1991) 72: 167-191 (with Mark Zupan). In tex or pdf .

    71. "Diseconomies of Scale in Employment Contracts," Journal of Law, Economics and Organization (June 1990) 6(1): 65-92 (with Todd Zenger). In tex or pdf) .

    72. "The Leasing Monopolist," UCLA Law Review, (April 1990) 37: 693--732 (with J. Mark Ramseyer and John Wiley). In html .

    73. "Cooperation in a Repeated Prisoner's Dilemma with Ostracism," Journal of Economic Behavior and Organization, (August 1989) 12: 87--106 (with David Hirshleifer). In tex or pdf (248).

    74. "A Simple Model of Product Quality with Elastic Demand," Economics Letters, 29(4) 281--283 (1989). In tex or pdf .

    75. "Antitrust and Spatial Predation: a Response to Thomas J. Campbell," Columbia Law Review, (June 1989) 1989: 1015--1032 (with John Wiley). In html.

    76. "Mutual Banks and Stock Banks," Journal of Law and Economics, 31: 395--422 (October 1988). Reprinted in Banking Law Anthology , Volume IV (1988), Bethesda, Md: International Library. In tex or pdf (168).

    77. "Entry for Buyout," Journal of Industrial Economics (March 1988) 36: 281--300. http://www.rasmusen.org/published/Rasmusen_88.JIE.buyout.pdf.

    78. "Moral Hazard in Risk-Averse Teams," RAND Journal of Economics (Fall 1987) 18: 428--435. http://www.rasmusen.org/published/Rasmusen_87.RJE.teams.pdf (217).

     

    Books

    1. Game Theory and the Law (Economic Approaches to Law series, ed. by Richard A. Posner and Francesco Parisi). Edward Elgar Publishing, 2007. PDF or tex.

    2. Measuring Judicial Independence: The Political Economy of Judging in Japan (with Mark Ramseyer). Chicago: University of Chicago Press, 2003. ISBN: 0226703886. The website is at http://rasmusen.org/published/jbook/jbook.htm. (204 Google Scholar cites by 2014)

    3. Readings in Games and Information, (editor) Oxford: Blackwell Publishers, 2001. ISBN's 0631215573 (paperback) and 0631215565 (hardback). The website is at http://rasmusen.org/GI/reader/gireader.htm.

    4. Public Policy and Economic Analysis , edited with Moriki Hosoe, Fukuoka, Japan: Kyushu University Press, 1997.ISBN: 4873784700.

    5. Games and Information, Fourth Edition. Website at http://www.rasmusen.org/GI/index.html. Games and Information , Oxford: Blackwell Publishers. First edition, 1989. 344 pp., ISBN: 0-631-15709-3. Second edition, 1994, 478 pp., ISBN: 1-55786-502-7. Third Edition, 445 pp., ISBN: 0631210954, 2001. Fourth edition, 2006.

      Japanese translation by Moriki Hosoe, , Shozo Murata, and Yoshinobu Arisada, Kyushu University Press, Vol. I (1990), Vol. 2 (1991). Italian translation ( Teoria dei Giochi e Informazione ) by Alberto Bernardo, Milan: Ulrico Hoepli Editore (1993), ISBN: 8820320231. Spanish translation, Juegos e Informacion ) by Roberto Mazzoni, Mexico City: Fondo de Cultura Economica (1997). Chinese Complex Characters translation, Wu-Nan Book Company , Taipei (2003). ( www.wunan.com.tw/) Chinese Simplified Characters translations:, Yang Yao (CCER, Beijing University http://ccer.pku.edu.cn/en/eyyao.htm ), Liangjing Publishing; China Renmin University Press (4th edition). French translation: Jeux et information, Introduction a la theorie des jeux, Brussels: Editions de Boeck & Larcier (2004). Korean rights were sold to United Consulting Group Limited, Norwegian rights to Gyldendal Akademisk (Oslo). I have various materials available associated with the book-- errata, teaching aids, etc. at the website. For reviews, see later in this vita. This book has 3,164 Google Scholar hits as of August 2016.

    Teaching
    Courses: G100: Business in the Information Age (Introduction to Business) (B.A.) Microeconomics (B.S.); G202: Business and Economic Strategy in the Public Arena (Honors B.A.) Regulation (B.A., 2004); G300: Business Economics (B.A.); G406, Regulation (B.A., Spring 2014); G492, Writing Economic Analyses (B.A., Spring 2005); X504: Microeconomics (M.B.A.); G570: Game Theory (M.B.A.) ; Regulation (M.B.A.); G601: Game Theory and Industrial Organization (Ph.D) ; G604: Empirical Industrial Organization (Ph.D) ; C530: Microeconomics (On-line "Kelley Direct" M.B.A. 2013) ; G751: Game Theory (Ph.D. 2014).

    Ph.D. Students: Stephan Levy (1995) (LECG), Carl Raul Gwin, (1997) (Baylor); Kelly Lear-Nordby (1998) (LECG); Kaushik Mukhopadhaya (1999) (Emory) ; Sooyoung Song (2000) ( Chung-Ang finance, Seoul, Korea); Jinwon Ahn (2005) (Presidential Commission on Policy Planning, Korea); Barick Chung (2007) (Chinese U. of Hong Kong), In Hyeock (Ian) Lee (Western Kentucky University); Manu Raghav (2007) (Depauw); Changmin Lee (2008) (Samsung Res.Inst. Finance). Kevin Woon-am Seok (2011) (Hanyang U.).

    Miscellaneous
  • Born: 1958 in Urbana, Illinois.
  • U.S. citizen.
  • Married to Dr. Helen Choi Rasmusen, D. Mus., Royal College of Music.
  • Home Address: Eric Rasmusen, 2810 Dale Court, Bloomington, Indiana 47401. Cell: (812) 345-8573.
  • Emergency contact: Mary Beale (sister),760-942-4402 (California).
  • Erdos number: 5 (Connell-Farb-Lubotzky-Alon-Erdos, Janssen-Sierksma-Doignon-Fishburn-Erdos, and Ayres-Rowat-Beardon-Lehner-Erdos) SAT:(750+730)/1600. LSAT: 800/800.
  • Languages: English, some French.
  • Church: Trinity Reformed Church, Bloomington, Indiana.
  • National Science Foundation Ph.D. Fellowship, 1980-1983.
  • L&EC Law Institute for Economists, 1986.
  • Associate editor, Journal of Economics and Management Strategy, 1995-1999.
  • Lecturer, judicial institutes, George Mason Law and Economics Center, 3+ times; political science institutes, 3 times.
  • Director, Indiana Association of Scholars, 1998-2013.
  • Director, Lighthouse Christian Academy, 2010-2013.
  • Director, American Law and Economics Association, 2002-2005.
  • Treasurer, CCFL, 2021-present.
  • Chair, Committee A on Academic Freedom of the Indiana Conference (that is, the state-level organization) of the American Association of University Professors (AAUP), 2020-present.

  • Director and Chairman, Communications Committee, MIT Free Speech Alliance (MFSA), 2021-present.

    Other Publications-- Various

    "Naked Exclusion: A Reply" (with J. Mark Ramseyer and John Wiley), the American Economic Review, 90: 310-311 (March 2000). In ascii or pdf. We have a longer version in ascii).

    BOOK REVIEWS:

    1. "Review of Game Theory and the Social Contract: Volume 1, Playing Fair" by Ken Binmore, Journal of Economic Literature, 33: 1979-1980 (December 1995). In ascii or pdf.
    2. "Review of COMPETITION, COMMITMENT, AND WELFARE by Kotaro Suzumura," Journal of Economic Literature, 34: 1374-1376 (September 1996). In ascii or pdf.
    3. "Review Discussion: Game Theory and the Law" (with Kenneth Dau- Schmidt, Michael Alexeev, Jeffrey Stake and Robert Heidt), Law and Society Review, 31: 613-629 (1997). In html or pdf.
    4. "Review of Timur Kuran, Private Truths, Public Lies: The Social Consequences of Preference Falsification," The Journal of Economic Behavior and Organization. (1998) 33: 309-311. In ascii or pdf.
    5. "Review of Coasean Economics: Law and Economics and the New Institutional Economics edited by Steven Medema," Journal of Economic Literature, 36: 2171-2174 (December 1998). In tex or pdf .
    6. "Review of Stahler, E: Economic Games and Strategic Behaviour: Theory and Application," Journal of Economics(Zeitschrift fur Nationalokonomie), 71(3): 322-324 (October 2000). https://www.rasmusen.org/published/Rasmusen_00.JITE.stahler.pdf.
    7. "Review of Mario Ferrero: The Political Economy of Indo-European Polytheism: How to Deal with Too Many Gods" Journal of Economics(Zeitschrift fur Nationalokonomie), (2023). https://www.rasmusen.org/published/Rasmusen-2023-polytheism_Zeitschrift.pdf.
    AMICUS BRIEFS
    1. "Brief of Amicus Curiae Eric Rasmusen In Support of Respondents in 22-555 and Petitioners in 22-277, NetChoice v. Paxton," United States Supreme Court (2024). https://www.supremecourt.gov/DocketPDF/22/22-555/298407/20240123110046414_Rasmusen%20Amicus%20Brief%20Filing.pdf.

    2. "Amicus Curiae Brief of Eric Rasmusen in Support of Appellants, Members of the Licensing Board v. Planned Parenthood," Indiana Supreme Court. https://www.rasmusen.org/published/2022_abortion_amicus_brief.pdf.

    3. "Brief for Law and Economics Scholars as Amici Curiae in Support of Reversal, Emilee Carpenter, LLC D/B/A Emilee Carpenter and Emilee Carpenter v. Letitia James, in Her Official Capacity as Attorney General of New York et al.," Second Circuit, case 22-75. I merely gave edits for this, rather than being principal author. 2022_Emilee_amicus_Rasmusen.pdfFILE-STAMPED.pdf.

    4. "Brief for Law and Economics Scholars as Amici Curiae in Support of Petitioners, 303 Creative v. Elenis," cert petition, U.S. Supreme Court. I merely gave edits for this, rather than being principal author. https://www.rasmusen.org/published/2021_303creative_amicus_rasmusen.pdf.

    5. In re Flynn" D.C. Circuit, "Brief Amicus Curiae of Professor Eric Rasmusen in Support of Petitioner." http://rasmusen.org/published/Rasmusen-2020-InReFlynn-Rasmusen-amicus.pdf.

    6. Mersino v. Sebelius 6th Circuit, No. 13-1944 (factors in granting a preliminary injunction in an Obamacare mandate case, 2013) http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2311834 .
      The Meaning of 'Value' for Gift and Estate Tax Donee Limitations in Tax Code 26 U.S.C. 6324(B): An Amicus Brief for Marshall v. Commissioner," (2013) http://ssrn.com/abstract=2261914 .p>
    7. Barnes v. Indiana, "Brief of John Wesley Hall, K. Babe Howell, Eric Rasmusen, Steven Russell, and Ronald S. Sullivan as Amici Curiae in Support of Appellant's Petition for Rehearing," Indiana Supreme Court, Case No. 82S05-1007-CR-343, (legality of resistance to illegal police entry, 2011). http://www.rasmusen.org/published/rasmusen-2011-Barnes-Amicus.doc .

    LAWSUITS
  • Rasmusen v. White, 970 F. Supp. 2d 807 (N.D. Ill. 2013) . https://www.govinfo.gov/content/pkg/USCOURTS-ilnd-1_10-cv-06171/pdf

  • New York State ex rel. Eric Rasmusen v. Citigroup, 75 N.Y.S.3d 903 (2018) https://www.rasmusen.org/citigroup/

    MAGAZINE, NEWSPAPER, WEBZINE, SUBSTACK (but not Ras-Stack) ARTICLES

    1. "What MIT President Kornbluth Should Do: I believe she's really for free speech, not Hamas, but she needs to prove it," Heterodox STEM, https://hxstem.substack.com/p/what-mit-president-kornbluth-should?utm_campaign=email-post&r=fjeib&utm_source=substack&utm_medium=email (December 14, 2023).
    2. "Lessons for the Cancelled," Heterodox STEM, https://hxstem.substack.com/p/lessons-for-the-cancelled? (May 22, 2023).
    3. "Remembering the Reichstag Fire," The Unz Review, https://www.unz.com/article/remembering-the-reichstag-fire/ (January 17, 2021).
    4. "What Makes Tim Keller Uncomfortable," Out of Our Minds, https://warhornmedia.com/2018/01/03/makes-tim-keller-uncomfortable/ (January 3, 2018).Translated into Spanish by Nathan Anderson as "Lo Que Incomoda a Tim Keller," Esperanza en lo Invisible, http://esperanzaenloinvisible.net/lo-incomoda-tim-keller/ (January 22, 2018).
    5. "Questions Nobody Is Asking about Jeffrey Epstein," The Unz Review, http://www.unz.com/article/questions-nobody-is-asking-about-jeffrey-epstein/#new_comments (September 2, 2019).
    6. "Bloomington versus Belmont: School Vouchers and Economic Diversity," American Greatness, https://amgreatness.com/2017/06/13/bloomington-versus-belmont-school-vouchers-economic-diversity/ (June 13, 2017).
    7. "Another Perspective on Roy Moore," Washington Times, https://www.washingtontimes.com/news/2017/dec/7/details-about-roy-moore-paint-a-more-ambiguous-sto/ (December 7, 2017).
    8. "Conventional Artillery and Nuclear Missiles in North Korea," RealClearDefense (May 12, 2017), http://www.realcleardefense.com/articles/2017/05/12/conventional_artillery_and_nuclear__missiles_in_north_korea_111363.html.
    9. "Auction Long-Distance Service for the Undecided," (with Ivan Png) The Wall Street Journal, (29 May 1985).
    10. "Minimum Wage, Maximum Controversy: Raising Lowest Pay Rate Could Hurt Economy," (with Ivan Png) Los Angeles Times, IV-3 (Sunday 10 January 1988).
    LETTERS
    1. "Letter: Must Homeowners Lose Wealth When House Prices Fall?" The Economists' Voice, 3(4): Article 8, http://www.bepress.com/ev/vol3/iss4/art8 (2006).
    2. "Letter: What Economists Can Contribute to the Global Warming Debate," The Economists' Voice, 5(3) Article 2. Http://www.bepress.com/ev/vol5/iss3/art2 (2008).
    3. "Letter: Research Economist Support for the Stimulus Bill," The Economists' Voice, 6(3): Article 6 http://www.bepress.com/ev/vol6/iss3/art6 (February 2009).

      Reviews of Games and Information

      1. Canning, David (1989) "Optimal Bidding," Times Higher Education Supplement no. 867, June 16, 1989, p. 22.
      2. Shin, Hyun Song (1989)"Games and Information: An Introduction to Game Theory," Economic Journal, 99: 864--865 (September 1989).
      3. Hare, Paul (1990)"ERIC RASMUSEN, Games and Information: An Introduction to Game Theory," Scottish Journal of Political Economy, 37: 111--112, (February 1990).
      4. Ayres, Ian (1990)"Playing Games with the Law," Stanford Law Review, 42: 1291-1317 (May 1990).
      5. Hipel, Keith (1990)"BOOK REVIEW: Rasmusen, Eric, Games and Information. An Introduction to Game Theory, Basil Blackwell, Oxford, 1989," Theory and Decision, 29: 161--163 (September 1990).
      6. Schimmelpfennig, Jorg (1990)"RASMUSEN, ERIC: Games and Information: An Introduction to Game Theory, Oxford: Basil Blackwell 1989. 352 pp. $25.00," Kyklos, 43: 689--690 (1990).
      7. Borland, Jeff (1991) " Games and Information: An Introduction to Game Theory , by Eric Rasmusen (Basil Blackwell, Oxford, 1989), pp. 352. $ A65," Economic Record, 67: 175 (June 1991).
      8. Leiniger, Wolfgang (1991) "Games and information: An introduction to game theory," International Journal of Industrial Organization, 9(3): 474--476 (September 1991).
      9. Mason, Charles F. (1991) "Games and information: A Review," Review of Industrial Organization, 6(3): 317-319 (January 1991).

      Research in Progress (some in early drafts; conclusions may change; some may never be finished)

      1. "Why Bother with Risk Management when Idiosyncratic Risk Doesn't Matter? http://www.rasmusen.org/papers/risk_aversion.pdf

      2. "Ostracism in Japan" with J. Mark Ramseyer. http://www.rasmusen.org/papers/ostracism.pdf.

      3. "Splitting a Pie: Mixed Strategies in Bargaining under Complete Information," with Christopher Connell. http://www.rasmusen.org/papers/mixedpie.pdf

      4. Market Failure and Government Failure: The Regulation of Business. book draft http://www.rasmusen.org/regulation.

      5. "Understanding Shrinkage Estimators: From Zero to Oracle to James-Stein." http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2675681.

      6. "The Concealment Argument: Why No Conclusive Evidence or Proof for God's Existence Will Be Found" http://rasmusen.org/papers/conceal-rasmusen.pdf.

      7. "How Covid-19 Infects Our Brains: The Idols of the Forum," http://www.rasmusen.org/papers/4idols-forum600.docx.

      8. "The Political Economy of Epidemic Control: Fixing the CDC," (with J. Mark Ramseyer) http://www.rasmusen.org/papers/cdc.doc.

      9. "Hitler's Rise to Power As a Coordination Game"

      10. "Stalin's Rise to Power As a Multi-Round Noisy Duel"

      11. "The Indiana Litigation Trust: How to Donate Lawsuit Proceeds to Charity to Minimize Taxes"

      12. "Writing, Reading, and Speaking in the Age of the Internet."

       

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