David A. Wells Professor of Political Economy
M.A. Columbia University (1975)
Ph.D. Columbia University (1976)
Areas of Expertise
- Industrial organization
- Applied microeconomics
- Economic development
ECON 111 LECIntroduction to Economics and Its Applications (not offered 2021/22)
ECON 214 / ENVI 212 / POEC 214 TUTThe Economics and Ethics of CO2 Offsets (not offered 2021/22)
ECON 228 / ENVI 228 TUTWater as a Scarce Resource (not offered 2021/22)
- Advisory Committee on Shareholder Responsibility
Fields of Specialization
“The Impact of Rent Controls in Non-Walrasian Markets: an Agent-Based Modeling Approach,” with Stephen C. Sheppard et al., Journal of Regional Science, August 2006, 455-492.
“The Distributional Impact of Housing Discrimination in a non-Walrasian Setting,” with Stephen C. Sheppard et al., Journal of Housing Economics, July 2005.
Ralph Bradburd (with Raquel Alfaro and John Briscoe), “Reforming Former Public Monopolies: Water Supply,” in Nancy Birdsall, Carol Graham, and Richard Sabot, eds., Beyond Trade-offs: Market Reforms and Equitable Growth in Latin America, (Inter-American Development Bank, Brookings Institution Press, 1998).
“Privatization of Natural Monopoly Enterprises: The Regulation Issue: Reply,” Review of Industrial Organization, December 1996.
“Privatization of Natural Monopoly Enterprises: The Regulation Issue” Review of Industrial Organization, June, 1995.
Book Review of Empirical Studies in Industrial Organization: Essays in Honor of Leonard W. Weiss, Review of Industrial Organization, April 1994.
“Wealth in Higher Educational Institutions,” with Duncan Mann, Journal of Higher Education, July/August 1993.
“Bilateral Distortion in Self-Selection Problems,” with P. Srinagesh and Hui-Wen Koo. Journal of Industrial Economics, June 1992.
“Internal Rent Capture and The Profits-Concentration Relation,” with Thomas Pugel and Katrina Pugh. Review of Economics and Statistics, August 1991.
“Can Small Firms Find and Defend Strategic Niches? A Test of the Porter Hypothesis,” with David R. Ross. Review of Economics and Statistics, May 1989.
“Quality Distortion by a Discriminating Monopolist,” with P. Srinagesh. American Economic Review, March 1989.
“A General Measure of Multidimensional Inequality,” with David R. Ross. Oxford Bulletin of Economics and Statistics, November 1988.
“The Empirical Determinants of Vertical Integration,” with Richard E. Caves, Journal of Economic Behavior and Organization, April 1988.
“Transaction Cost Influences on the Adjustment of Industries’ Prices and Outputs,” with Richard E. Caves, Review of Economics and Statistics, November 1987.
“A Closer Look at the Effect of Market Growth on Industries’ Profits,” Review of Economics and Statistics, November 1982 (with Richard E. Caves).
“Price-Cost Margins in Producer Goods Industries and ‘The Importance of Being Unimportant,'” Review of Economics and Statistics, August 1982.
“Organizational Costs, ‘Sticky Equilibria,’ and Critical Levels of Concentration,” Review of Economics and Statistics, February, 1982 (with A. Mead Over, Jr.). Reprinted in Industrial Organization and Public Policy, John Craven, ed., Kluwer-Nijhoff Publishing, 1982.
“Advertising and Market Concentration: A Re-examination of Ornstein’s Spurious Correlation Hypothesis,” Southern Economic Journal, October 1980.
“A Model of the Effects of Conglomeration and Risk Aversion on Pricing,” Journal of Industrial Economics, June 1980.
“Conglomerate Power Without Market Power: The Effects of Conglomeration on a Risk-Averse Quantity Adjusting Firm,” American Economic Review, June 1980.
“The Impact of Federal Section 8 Rental Housing Assistance: A non-Walrasian Simulation Analysis, with Stephen C. Sheppard et al.
Selected Work Experience
Consultant, The Robin Hood Foundation, 2008-10
Member, Governor’s Economic Development Council, Commonwealth of Massachusetts, 2000-2001
Board of Advisors, BCI II Venture Capital Fund, 1999-2003
Senior Economic Policy Advisor–New Zealand Dairy Group, 1995-1999
Consultant– World Bank, various occasions, 1990-1995
U.S. Federal Trade Commission Line of Business Program, 1984-1992
Visiting Scholar, Department of Economics, Harvard University, 1983-84
Consultant– U.S. Congress, Office of Technology Assessment, Health Program, 1983