Jeroen Swinkels
Jeroen Swinkels

STRATEGY
Richard M. Paget Professor of Management Policy
Professor of Strategy

Print Overview

Jeroen Swinkels is the Paget Professor of Management Policy in the Strategy department at the Kellogg School of Management. He joined Kellogg in 2009, after previous positions at Stanford, Kellogg, and the Olin School at Washington University in St. Louis. He received his PhD in 1990 from Princeton, and his undergraduate degree from Queen’s University in Canada.

Swinkels work has looked, among other things, at the question of how much of the value of an MBA can be traced to signaling versus education, how information is aggregated in auction and other market settings, the efficiency of auctions with many players, the design of incentive contracts with minimum wages, the design of procurement auctions when one vendor is preferred to another, and the evolutionary foundations for self control problems. He has been published in journals including Econometrica, the American Economic Review, the Review of Economic Studies, and the Review of Financial Studies. He is a fellow of the Econometric Society, an associate editor for Econometrica, and has served on boards including the Journal of Economic Theory and Games and Economic Behavior. He was chair of the economics group at the Olin School for 11 years, and received 16 teaching awards while there. His primary teaching is of the core strategy course Business Strategy.



Areas of Expertise
Contract Theory
Economic Theory
Economics of Organizations
Game Theory
Information Economics
  • Recent Media Coverage

    The Economist Intelligence Unit: Executive Briefing--Minimum wage matters: Increasing the minimum wage may not help low-wage workers

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Print Vita
Education
PhD, 1990, Economics, Princeton University, Princeton, NJ
BA (hon.), 1986, Economics, Queen's University, Kingston, Ontario, Canada

Academic Positions
Richard M. Paget Chair in Management Policy, Department of Management and Strategy, Kellogg School of Management, Northwestern University, Evanston, IL, 2009-present
August A. Busch, Jr., Distinguished Professor of Managerial Economics and Strategy, John M. Olin School of Business, Washington University in St. Louis, St. Louis MO, (Also, by courtesy to the Department of Economics after 2006), 1998-2009
Professor of Managerial Economics and Strategy, John M. Olin School of Business, Washington University in St. Louis, St. Louis MO, 1997-1998
Associate Professor of Managerial Economics and Decision Sciences (tenured), J.L. Kellogg Graduate School of Management, Northwestern University, Evanston, IL, 1995-1997
Assistant Professor of Managerial Economics and Decision Sciences, J.L. Kellogg Graduate School of Management, Northwestern University, Evanston, IL, 1992-1994
Assistant Professor of Economics, Stanford University, Stanford CA, 1990-1992

Grants and Awards
Chairs' Core Course Teaching Award, Kellogg School of Management, Northwestern University, 2010-2011
Sidney J. Levy Teaching Award, Kellogg School of Management, 1995-1996
Economic Theory Fellow, Society for the Advancement of Economic Theory, 2011

Editorial Positions
Editorial Board, Theoretical Economics, 2005-Present
Associate Editor, Econometrica, 2005-Present
Associate Editor, Journal of Economic Theory, 2003-2009

 
Print Research
Research Interests
Game theory; auctions and other models of price formation; evolution and learning; job-market signaling; corporate compensation; principal-agent models; procurement.

Articles
Swinkels, Jeroen. Forthcoming. "On the Analysis of Asymmetric First Price Auctions". Journal of Economic Theory.
Swinkels, Jeroen. 2011. On the Near-Optimality of Second Price Mechanisms for a Class of Asymmetric Auctions. Games and Economic Behavior. 72(1): 218-241.
Swinkels, Jeroen, Ohad Kadan and Ian Jewitt. 2008. Moral Hazard with Bounded Payments. Journal of Economic Theory. 143(1): 36-58.
Swinkels, Jeroen and Ohad Kadan. 2007. Stocks or Options? Moral Hazard, Firm Viability and the Design of Compensation Contracts. Review of Financial Studies.
Swinkels, Jeroen and Martin Cripps. 2006. Depth and Efficiency of Large Double Auctions. Econometrica. 74(1): 47-92.
Swinkels, Jeroen and Larry Samuelson. 2006. Information, Evolution and Utility. Theoretical Economics. 1(1): 47-92.
Swinkels, Jeroen and Matthew O. Jackson. 2005. Existence of Equilibrium in Single and Double Private Value Options. Econometrica. 73(1): 93-140.
Swinkels, Jeroen, Klaus Ritzberger and Stefano Demichelis. 2004. The Simple Geometry of Perfect Information Games. International Journal of Game Theory.
Swinkels, Jeroen and Larry Samuelson. 2003. Evolutionary Stability with Lexicographic Preferences. Evolutionary Stability with Lexicographic Preferences. 44(2): 332-342.
Swinkels, Jeroen, Leo Simon and William Zame. 2002. Communication and Equilibrium in Discontinuous Games of Incomplete Information. Econometrica. 70(5): 1711-1740.
Swinkels, Jeroen. 2001. Efficiency of Large Private Value Auctions. Econometrica. 69(1): 37-68.
Swinkels, Jeroen and Wolfgang Pesendorfer. 2000. Efficiency and Information Aggregation in Auctions. American Economic Review. 90(3): 499-525.
Swinkels, Jeroen and Leslie M. Marx. 2000. Order Independence for Iterated Weak Dominance: Corrigendum. Games and Economic Behavior. 31(2): 324-329.
Swinkels, Jeroen. 1999. Asymptotic Efficiency for Discriminatory Private Value Auctions. Review of Economic Studies. 66(3): 509-528.
Swinkels, Jeroen. 1999. Education Signalling with Pre-emptive Offers. Review of Economic Studies. 66: 949-970.
Swinkels, Jeroen, George Mailath and Larry Samuelson. 1997. How Proper is Sequential Equilibrium?. Games and Economic Behavior. 18: 193-218.
Swinkels, Jeroen and Leslie M. Marx. 1997. Order Independence for Iterated Weak Dominance. Games and Economic Behavior. 18: 219-245.
Swinkels, Jeroen and Wolfgang Pesendorfer. 1997. The Loser's Curse and Information Aggregation in Common Value Auctions. Econometrica. 65: 1247-1282.
Swinkels, Jeroen, George Mailath and Larry Samuelson. 1994. Normal Form Structures in Extensive Form Games. Journal of Economic Theory. 64: 325-371.
Swinkels, Jeroen. 1993. Adjustment Dynamics and Rational Play in Games. Games and Economic Behavior. 5: 455-484.
Swinkels, Jeroen, George Mailath and Larry Samuelson. 1993. Extensive Form Reasoning in Normal Form Games. Econometrica. 6: 273-302.
Swinkels, Jeroen. 1992. Evolution and Strategic Stability: from Maynard Smith to Kohlberg and Mertens. Journal of Economic Theory. 57: 333-342.
Swinkels, Jeroen. 1992. Evolutionary Stability with Equilibrium Entrants. Journal of Economic Theory. 57: 306-332.
Swinkels, Jeroen, Roger Myerson and Gregory B. Pollock. 1991. Viscous Population Equilibria. Games and Economic Behavior. 3: 101-109.
Working Papers
Kadan, Ohad and Jeroen Swinkels. March 2013. A Calculus Proof of Proposition 1 in “On the Moral Hazard Problem Without the First-Order Approach”.
Swinkels, Jeroen and Sofia Moroni. 2013. "A New Class of Non-Existence Examples for the Moral Hazard Problem".
Swinkels, Jeroen, Ohad Kadan and Phil Reny. 2010. "Existence of Optimal Mechanisms in Principal-Agent Problems".
Swinkels, Jeroen. 2013. "Comparing First and Second Price Auctions with Multiple Insiders and Outsiders".
Swinkels, Jeroen and Ohad Kadan. 2013. "Minimum Payments and Induced Effort in Moral Hazard Problems".
Swinkels, Jeroen and Ohad Kadan. 2013. "Moral Hazard, Incentives and Markets".
Swinkels, Jeroen and Ohad Kadan. 2011. On the Moral Hazard Problem without the First-Order Approach.
Swinkels, Jeroen and Ohad Kadan. 2010. Moral Hazard, Minimum Wages, and Market Outcomes.
Swinkels, Jeroen. 2009. First and Second Price Mechanisms in Procurement and Other Asymmetric Auctions.
Cases
Busse, MeghanJeroen Swinkels and Greg Merkley. 2011. Enterprise Rent-A-Car. Case 5-311-508 (KEL612).

 
Print Teaching
Full-Time / Part-Time MBA
Business Strategy (MGMT-431-0)

This course counts toward the following majors: Management & Strategy

Strategy is the set of objectives, policies and resource commitments that collectively determine how a business positions itself to create wealth for its owners. This course introduces students to principles and conceptual frameworks for evaluating and formulating business strategy. Topics include the boundaries of the firm, the analysis of industry economics, strategic positioning and competitive advantage, and the role of resources and capabilities in shaping and sustaining competitive advantages.

Executive MBA
Frameworks for Strategic Analysis (MGMTX-430-A)
Frameworks for Strategic Analysis explores economic principles of business strategy and develops an analytic framework for identifying and evaluating alternative strategies.

Foundations for Strategy Formulation (MGMTX-431-0)
Foundations for Strategy Formulation explores economic principles essential for the formulation and evaluation of strategy. Topics include industry analysis, strategic positioning and the boundaries of the firm.