About this Fellow
Between 1967 and 1998 I was a member of the finance faculty of London Business. From 1998 to 2001 I served as Special Advisor to the Governor of the Bank of England, and am currently Emeritus Professor at LBS. I have held visiting appointments at the University of California, Berkeley, University of Hawaii, University of British Columbia, and Australian Graduate School of Management, University of New South Wales. I hold honorary doctorates from London University and Technical University of Lisbon. I have served as President of the European Finance Association and as a director of the American Finance Association, and have been a member of the board of a number of financial institutions. My publications are largely in the area of asset management and corporate finance,and include the textbook Principles of Corporate Finance (with Stewart Myers and Franklin Allen (McGraw-Hill, 12th ed, 2016).
- Emeritus Professor, London Business School
- Professor of Finance, London Business School University of London, 1974 - 1997
- Emeritus Professor, London Business School, London Business School University of London, 2001
Microeconomic theory; the foundations of welfare and public economics, social and collective choice, quotas and rationing, the theory of market and general equilibrium.
Theoretical econometrics and economic statistics; moment condition models, model selection and nonnested tests, specification tests, bias reduction and asymptotic approximations, survey nonresponse, survey-based estimation of expectations and national ac
Game theory and its application to the evolution of social norms, learning and innovation, theories of distributive justice, and the design of legislative systems.
Applied microeconometrics with an emphasis on structural modelling of individual behaviour; intra-household decision making; demand analysis; accounting for heterogeneity; survey design