CURRICULUM
VITAE
PETER E. ROSSI
(February 2010)
Date of Birth: November 25, 1955
Citizenship: United States
Business address:
Booth School of Business
University of Chicago
Room 353
5807 South Woodlawn Ave
Chicago, Illinois 60637
773/702-7513
fax: 773/834-2081
email: peter.rossi@chicagobooth.edu
Education:
B.A., 1976, Oberlin College (Mathematics and History).
M.B.A., 1980, Graduate School of Business, The University of Chicago
(Management Science)
Ph.D., 1984, Graduate School of Business, The University of Chicago
(Econometrics).
Dissertation Title: "Specification and Analysis of Econometric Production
Models."
Fellowships, Honors, and Grants
Phi Beta Kappa Zeta of Ohio,
elected 1975.
University of Chicago Fellowship, 1978-1980.
G.M. Fellowship, University of Chicago, 1980-1981.
Kellogg Research Chair, Northwestern University, 1983-84.
NSF grant, SES-8510193, "Comparison of Non-nested Production Models,"
1985-1987.
1987 Savage Prize for best dissertation in Bayesian Econometrics and Statistics
I. B. M. Scholar, Graduate School of Business, University of Chicago, 1988-89.
Bozell, Jacobs, Kenyon and Eckhardt Faculty Scholar, Graduate School of
Business, University of Chicago, 1994-95.
Elected Fellow, American Statistical Association, June 1998.
1999 Mitchell Prize for Best Applications Paper in Bayesian Statistics,
for "Estimating Price Elasticities with Theory-based Priors (with A.
Montgomery),"
awarded by American Statistical Association, Bayesian Statistics Section.
2000 Arthur Kelly Faculty Price, GSB, U of Chicago,
(awarded bi-annually for service to school).
"Bayesian Analysis of Stochastic Volatility Models" named one of most
influential articles
in twentieth anniversary issue of Journal of Business and Economic
Statistics (2002).
Named Fellow, Journal of Econometrics, 2001
Areas of Research Interest
Marketing: Brand Choice, Target
Marketing, Price Promotions, Consumer Heterogeneity, Couponing, Search Theory,
Direct Marketing
Econometrics: Hypothesis testing in systems of equations, non-nested
hypothesis-testing procedures, Bayesian methods, limited dependent variable
models, non-parametric time series methods.
Microeconomics: cost and production economics, dynamic factor demand, and
demand analysis applied to individual consumer expenditure data.
Positions Held:
Analyst, Abt Associates Inc., 1976-1977.
Consultant, SRI International Inc., 1978.
Research Assistant, University of Chicago, 1979-1981.
Lecturer in Managerial Economics, Kellogg Graduate School of Management,
Northwestern University, 1981-1983.
Assistant Professor of Managerial Economics, Kellogg Graduate School of
Management, Northwestern University, 1983- 86.
Visiting Assistant Professor of Econometrics and Statistics, Graduate School of
Business, The University of Chicago, 1985-1986.
Assistant Professor of Econometrics and Statistics, Graduate School of
Business, The University of Chicago, 1986- 1990.
Associate Professor of Econometrics and Statistics, Graduate School of
Business, The University of Chicago, 1990- 1994.
Professor of Marketing, Econometrics and Statistics, Graduate School of
Business, University of Chicago, 1994- 1997.
Joseph T. and Bernice S. Lewis Professor of Marketing and Statistics, Booth School of
Business, University of Chicago, 1997- present.
Consultant for RFG Options, Harris Bank, Hull Trading, GE Capital, Ernst and
Young, KPMG Peat Marwick, Abbott Labs, Department of Defense, Booz Allen and
Hamilton, Arthur Andersen, Kestnbaum and Company, Oliver, Wyman and Co.
Expert Witness for various legal proceedings involving statistical analysis,
survey sampling, marketing and pricing, valuation of lost personal and business
income, franchise rights, patent infringement, bio-statistics and job
discrimination. Law firms involved include: Ross and Hardies, Rudnick and
Wolfe, Seyfarth and Shaw, Sidley and Austin, Winston and Strawn, Arnold, White
and Durkee, Hinshaw and Culbertson, Kirkland and Ellis, Cravath, Swaine and
Moore, Mayer, Brown and Platt, Howrey and Simon, Bryan Cave LLP, and Latham and Watkins.
Publications:
"A Model for Trade-Up and Change in Considered Brands,” with G. M. Allenby and M. J. Garratt, Marketing Science, Vol. 29, No. 1, January-February 2010, pp. 40-56.
"Do Switching Costs Make Markets Less Competitive?” and "Commentaries and Rejoinder to Shin and Sudhir and to Cabral" with G. J. Hitsch and J. P. Dubé, Journal of Marketing Research, Vol. XLVI, August 2009.
"Both Network Effects and Quality are Important", Journal of Marketing Research, forthcoming (2009).
"Bayesian Analysis of Random Coefficient Logit Models Using Aggregate Data," with R. Jiang and P. Manchanda, Journal of Econometrics, Vol.149, April 2009, pp. 136-148.
"Choice Models in Marketing: Economic Assumptions, Challenges and Trends," with S. Chandukala, J. Kim, T. Otter, and G. Allenby, Foundations and Trends in Marketing, forthcoming.
"Teaching Bayesian Statistics to Marketing and Business Students," with G. Allenby, The American Statistician, August 2008, Vol. 62, No. 3, 195-198.
“A Semi-Parametric Bayesian Approach to the Instrumental Variable Problem,” with T. Conley, C. Hansen and R. McCulloch, Journal of Econometrics, 144 (2008) 276–305.
"Category Pricing with State Dependent Utility," with J. P. Dubé, G. J. Hitsch, and M. Vitorino, Marketing Science, Vol. 27, No. 3, May–June 2008, pp. 417–429.
"The Role of Retail Competition and
Retail Strategy as Drivers of Promotional Sensitivity," with P. Boatwright
and S. Dhar, (2004), Quantitative Marketing and Economics, 2, 169–190.
"Bayesian analysis of stochastic volatility models
with fat-tails and correlated errors," with E. Jacquier
and N. Polson (2004), Journal of Econometrics, 122, 185-212 .
"Bayesian Statistics and Marketing"with
G. Allenby (2003), Marketing Science, 22, 304-329.
"Why Don't Prices Rise During
Periods of Peak Demand?" with J. Chevalier and A. Kashyap (2003), AER, 93(1),
15-37.
"Modeling Consumer Demand for
Variety," with G. Allenby and J. Kim (2002), Marketing Science, 21,
229-250.
"Overcoming Scale Usage
Heterogeneity: a Bayesian Hierarchical Approach," with G. Allenby and Z.
Gilula (2001), Journal of the American Statistical Association 96, 20-31
"Bayesian Analysis of the
Multinomial Probit Model with Fully Identified Parameters," with R.
McCulloch (2000), Journal of Econometrics, 99, 173-193.
"Statistics and Marketing,"
with G. Allenby (2000), Journal of the American Statistical Association
65, 635-638.
"Making Sense of Scanner Data,"
with P. Delurgio and D. Kantor (2000), Harvard Business Review
(March-April 2000), 24.
"Account-Level Modeling for Trade
Promotion: An Application of a Constrained Parameter Hierarchical Model"
with Peter Boatwright and Robert McCulloch (1999), Journal of the American
Statistical Association , 94, 1063-1073.
"Estimating Price Elasticities with
Theory-Based Priors," with A. Montgomery (1999), Journal of Marketing
Research 36, 413-423.
"Marketing Models of Consumer
Heterogeneity" with G. Allenby (1999), Journal of Econometrics,
89, 57-78.
"Similarities in Choice Behavior
Across Product Categories" with A. Ainslie (1998), Marketing
Science, 17, 91-106.
"On the Taxation of Capital
Income," Journal of Economic Theory (1997), 73, 93-117(with L.
Jones and R. Manuelli).
"The Value of Purchase History Data in Target Marketing," Marketing Science (1996), 15,
321-340 (with G. Allenby and R. McCulloch).
Modelling Stock Market Volatility:
Bridging the Gap to Continuous Time
(1996), San Diego: Academic Press.
"Bayes Factors for Testing the
Equality of Covariance Matrix Eigenvalues", Modelling and Prediction (1996),
W. Johnson (ed), New York: Springer, 305-314.
"Modelling the Distribution of Price
Sensitivity and Implications for Optimal Retail Pricing," with B. Kim and
R. Blattberg, Journal of Business and Economics Statistics (1995), 13,
291-304.
"Hierarchical Modelling of Consumer
Heterogeneity: An Application to Target Marketing," Case Studies in
Bayesian Statistics (1995), Kass and Singpurwalla (eds), New York: Springer
Verlag., 323-350.
"Determinants of Store-level Price
Elasticity," (with S. Hoch, B. Kim and A. Montgomery), Journal of
Marketing Research (1995), 32, 17-29.
"Advances in Random Utility
Models," (with Joel Horowitz, et al), Marketing Letters (1994), 5,
311-322.
"Bayesian Analysis of Stochastic
Volatility Models," (with N. Polson and E. Jacquier), invited article with
discussion, Journal of Business and Economic Statistics (1994), 12 ,
371-418.
"Purchase Frequency, Sample
Selection and Price Sensitivity," (with B. Kim), Marketing Letters
(1994), 5, 57-68.
"An Exact Likelihood Analysis of the
Multinomial Probit Model," (with R. McCulloch), Journal of Econometrics
(1994), 64, 207-240.
"A Marginal-Predictive Approach to
Estimating Household Parameters," (with G. Allenby), Marketing Letters
(1993) 4, 227-239.
"Nonlinear Dynamic Structures,"
(with A. R. Gallant and G. Tauchen), Econometrica (1993) 61, 871-908.
"Optimal Taxation in Models of
Endogenous Growth," (with L. Jones and R. Manuelli), Journal of
Political Economy (1993), 485-517.
"A Bayesian Approach to Estimating
Household Parameters," (with G. Allenby), Journal of Marketing Research
(1993) XXX, 171-182.
"Bayes Factors for Nonlinear
Hypotheses and Likelihood Distributions," (with R. McCulloch) Biometrika
79 (1992).
"Stock Prices and Volume,"
(with A. R. Gallant and G. Tauchen), Review of Financial Studies 5
(1992), 199-242.
"Quality Perceptions and Asymmetric
Switching Between Brands" (with G. Allenby), Marketing Science 10
(1991), 185-204.
"Posterior, Predictive, and
Utility-Based Approaches to Testing the Arbitrage Pricing Theory," (with
R. McCulloch), Journal of Financial Economics 28 (1991), 7-38
"A Bayesian Approach to Testing the
Arbitrage Pricing Theory," (with R. McCulloch), Journal of Econometrics
49 (1991), 141-168.
"There is No Aggregation Bias: Why
Macro Logit Models Work," (with G. Allenby) Journal of Business and
Economic Statistics 9 (1991), 2-14.
"Econometric Theory Interview
with Arnold Zellner," Econometric Theory 5 (1989), 287-317.
"Comparison of Dynamic Factor Demand
Models," in Austin Symposia in Economics: Dynamic Econometric Models
(1987), Cambridge: Cambridge University Press.
"Discussion: 'Statistical Properties
of Generalized Method of Moments Estimates Using Financial Market Data'," Journal
of Business and Economic Statistics 4 (1986), 417-419.
"Evaluating the Methodology of
Social Experiments," in The Income Maintenance Experiments edited
by J. Peckman, Boston: Federal Reserve Bank of Boston (with A. Zellner).
"Comparison of Functional Forms in
Production," Journal of Econometrics 30 (1985) 345-361.
"Bayesian Analysis of Dichotomous
Quantal Response Models," (with A. Zellner) Journal of Econometrics
25 (1984), 365-394.
"Asymptotic Search Behavior Based on
the Weibull Distribution," Economics Letters 3 (1979), 211-213.
"The Cost of Search and Rational
Random Behavior," Economics Letters 3 (1979), 5-8.
"The Independence Transformation of
Specific Substitutes and Specific Complements," Economics Letters 2
(1979), 299-301.
"Body Time and Social Time: Mood
Patterns by Menstrual Cycle Phase and Day of the Week" (with A. S.
Rossi), Social Science Research 6 (1977), 273-308.
Working Papers are available on SSRN
PhD Students (year)
Eric Gyhsels (84), Professor of
Economics, University of North Carolina
Greg Allenby (88), Kurtz Professor of
Marketing, Ohio State University
Eric Jacquier (91), Associate Professor
of Finance,
HEC Montreal
Byung-Do Kim (92), Professor of
Marketing, Seoul National University
Alan Montgomery (94), Associate Professor
of Marketing, CMU
Peter Boatwright (98), Assistant
Professor of Marketing, CMU
Andrew Ainslie (98), Associate Professor
of Marketing, UCLA
Renna Jiang (09), Assistant Professor of Marketing, UC Davis
Professional Activities
Associate Editor, Journal of Business
and Economic Statistics (1986- 1988)
Associate Editor, Journal of Econometrics,
1987 - 1995.
Member, Editorial Board Marketing
Science, 1994 -2003.
Member, Editorial Board, Journal of
Marketing Research, 1998- .
Associate Editor, Journal of American
Statistical Association (applications section), 1995 – 2001.
Chair, Business and Economics Section,
American Statistical Association, 1995.
Seminar Leader, NBER/NSF Seminar on
Bayesian Inference in Econometrics, 1995-1998.
Member, Savage Award Committee, ASA,
1995-2000.
Member, Advanced Research Forum Program
Committee, AMA, 2000-2003.
Founding Editor (with Rajiv Lal), Quantitative
Marketing and Economics
Referee for Econometrica, Journal
of Econometrics, Journal of Political Economy, Journal of the
American Statistical Association, American Statistician, Econometric
Theory, Journal of Applied Econometrics, Journal of Business,
Marketing Science, Review of Financial Studies, Review of
Economics and Statistics, Management Science, Journal of
Marketing Research, Journal of the Royal Statistical Society.
Chicago Booth Service Activities
Director, Strategic Marketing Management
(short course exec ed program), 96-
Elected member, Dean’s Search Committee,
96.
Elected member, Dean’s Policy Committee,
96-.
Chair of Recruiting, Marketing Group,
96-00, 01-03, 05-.
Course Scheduler, Marketing Group, 96-
00.
Founder, Kilts Center for Marketing