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Managerial Economics & Decision Sciences

Associate Professor of Managerial Economics & Decision Sciences

Portrait of James Schummer, Faculty at the Kellogg School of Management

James Schummer joined Kellogg in 1997 after earning his PhD in Economics from the University of Rochester. He is an expert in game theory, axiomatic resource allocation, and mechanism design.  These fields help to examine how organizations can design rules and systems that lead to better outcomes when individuals have their own incentives and private information.

Professor Schummer's research focuses on how to allocate scarce resources in ways that are both effective and strategically robust. His work explores questions such as: How should auctions be designed when bidders value combinations of assets? How can airport landing slots be reassigned efficiently over time? How should digital platforms set pricing rules in matching markets? And how can waiting lists or classification systems — such as those used in transplant organ allocation — be structured to balance fairness, efficiency, and incentives? More recently, he has studied how information should be allocated when privacy constraints matter.

Professor Schummer has taught throughout Kellogg's programs, including the Full-Time MBA, Evening & Weekend MBA, Executive MBA, Executive Education, and PhD programs. He regularly teaches Business Analytics and Managerial Economics, and has also taught am MBA elective in Pricing as well as a doctoral course on matching markets. He has served as his department's Director of Graduate Studies for nearly two decades.

About James
Research interests
  • Game Theory
  • Mechanism Design
  • Market Design
  • Collective Decision-making.
Teaching interests
  • Probability and statistics; microeconomics; pricing; matching (PhD).
  • PhD, 1997, Economics, University of Rochester
    MA, 1995, Economics, University of Rochester
    BS, 1992, Finance, Pennsylvania State University
  • Associate Professor of Managerial Economics and Decision Sciences, Kellogg School of Management, Northwestern University, 2004-present
    Assistant Professor of Managerial Economics and Decision Sciences, Kellogg School of Management, Northwestern University, 1997-2004
    Graduate Teaching Fellow, University of Rochester, 1996-1997
  • Associate Editor, Games and Economic Behavior, 2020
    Associate Editor, Mathematical Social Sciences, 2009-2020

Managerial Economics (MECNX-430-0)

Managerial Economics introduces the economic principles of pricing. It provides an overview of methods to estimate sensitivity of buyers to price, the trade-off between margin and volume, price discrimination and pricing in competitive environments.