George Georgiadis Kellogg

CV  |  Publications  |  Working Papers |  Teaching 

Associate Professor of Strategy (with tenure)
Kellogg School of Management
Northwestern University


Curriculum Vitae       Orgs Insights LLM  (NEW!)

Research Interests
Microeconomic Theory, Organization Economics, Industrial Organization

Contact Information
Kellogg School of Management
Office 4223
2211 Campus Drive
Evanston, IL 60208

E-mail: gjgeorgiadis@gmail.com



Short Bio

    I am an applied microeconomic theorist with a focus on organizational economics and industrial organization. At a broad level, my research studies how incentives—predominately financial ones—affect the behaviors of individuals and organizations. One line of research studies how firms can design effective incentive schemes to motivate their employees. Another line analyzes public good provision problems, and specifically, how inefficiencies such as freeriding can be attenuated.
     
    At Kellogg, I teach Strategy and Organizations (STRT 452), an elective MBA course on organizational economics, which offers a microeconomic approach to both the internal organization of firms and its relationship with their rivals' overall strategies. Topics include incentive pay, decentralization (e.g., transfer pricing and coordination issues), purpose-driven organizations, strategic communication, horizontal mergers, and vertical integration. I also teach Data-Driven Theory, a PhD course that familiarizes students with research at the interface of theory and empirics. Topics include contract theory under moral hazard and adverse selection, market design, reinforcement learning (algorithmic pricing), taxation, and social insurance.


Working Papers / Work in Progress

  • Incentives and Selection  (May, 2025)
    with Henrique Castro-Pires

    Abstract: Performance pay schemes influence not only workers' incentives to exert effort but also the skill composition of the workforce. Conventional wisdom suggests that stronger incentives should attract higher-skilled workers. We develop a model where workers differ in skill and outside options, and show that a modification in the incentive contract improves workforce quality only when the percentage increase in high-skill applicants exceeds that of low-skill applicants. Because any across-the-board pay hike can backfire under plausible outside-option distributions, sorting effects cannot be inferred from incentives alone. We derive a sufficient-statistics test: selection improves if and only if the share of applicants who clear a screening test rises. Combining this test with a bonus experiment that isolates effort responses allows the firm to identify the profit-maximizing local adjustment and, with light structure, solve for the globally optimal contract.


Publications

  1. Feedback Design in Dynamic Moral Hazard  [Slides]  [EC'24]  
    with Jeffrey Ely and Luis Rayo
    Econometrica, 2025, 93 (2), 597-621.
  1. Contracting with Moral Hazard
    In the Elgar Encyclopedia on the Economics of Competition, Regulation and Antitrust (ed. Michael Noel)
  1. Robust Contracts: A Revealed Preference Approach  [Slides]  [EC'23]  
    with Nemanja Antic
    Review of Economics and Statistics, Forthcoming
  1. Flexible Moral Hazard Problems  [Slides]  
    with Doron Ravid and Balazs Szentes
    Econometrica, 2024, 92 (2), 387-409.
  1. Optimal Feedback in Contests  [Slides]  [EC'21]
    with Jeffrey Ely, Sina Moghadas Khorasani, and Luis Rayo
    Review of Economic Studies, 2023, 90 (5), 2370-2394.
    Featured in: Kellogg Insight
  1. Optimal Technology Design  [Slides]  [Online Appendix]
    with Daniel Garrett, Alex Smolin, and Balazs Szentes
    Journal of Economic Theory, 2023, 209, 105621.
  1. A/B Contracts  [Slides]  [Zoom Talk]  [Online Appendix]  [Matlab Code]
    with Michael Powell
    American Economic Review, 2022, 112 (1), 267-303.
    Featured in: Kellogg Insight
  1. The Absence of Attrition in a War of Attrition under Complete Information
    with Youngsoo Kim and Dharma Kwon
    Games & Economic Behavior, 2022, 131, 171-185.
  1. Working to Learn  [Slides]
    with Drew Fudenberg and Luis Rayo
    Journal of Economic Theory, 2021, 197, 105347.
  1. Optimal Monitoring Design  [Slides]  [Online Appendix]
    with Balazs Szentes
    Econometrica, 2020, 88 (5), 2075-2107.
    Featured in: Kellogg Insight
  1. Optimal Contracts with a Risk-Taking Agent   [Slides]  [Online Appendix]  [Matlab Code]
    with Daniel Barron and Jeroen Swinkels
    Theoretical Economics, 2020, 15 (2), 715-761.
    Featured in: Kellogg Insight, Bloomberg, and SmartBrief
  1. Collective Choice in Dynamic Public Good Provision   [Slides]
    with Renee Bowen and Nicolas Lambert
    American Economic Journal: Microeconomics, 2019, 11 (1), 243-298.
  1. Deadlines and Infrequent Monitoring in the Dynamic Provision of Public Goods  (Lead article)
    Journal of Public Economics, 2017, 152, 1-12.
  1. Project Contracting Strategies for Managing Team Dynamics  (Not peer-reviewed)
    in Information Exchange in Supply Chain Management (eds. Albert Ha and Christopher Tang), Springer.
  1. Achieving Efficiency in Dynamic Contribution Games    [Slides]
    with Jaksa Cvitanic
    American Economic Journal: Microeconomics, 2016, 8 (4), 309-342.
    Featured in: Kellogg Insight
  1. Projects and Team Dynamics   [Online Appendix]   [Slides]
    Review of Economic Studies, 2015, 82 (1), 187-218.
  1. Project Design with Limited Commitment and Teams   [Slides]
    with Steven Lippman and Christopher Tang
    RAND Journal of Economics, 2014, 45 (3), 598-623.
  1. Optimal Reservation Policies and Market Segmentation
    with Christopher Tang
    International Journal of Production Economics, 2014, 154, 81-99.

  1. The Retail Planning Problem Under Demand Uncertainty   [Slides]
    with Kumar Rajaram
    Production and Operations Management, 2013, 22 (5), 1200-1213.



Teaching & Lecture Notes