Who is Susan Athey?
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Susan Athey is undeniably one of the most notable contributors to
the field of economics in the 21st century. Born
in Boston, Athey began her undergraduate studies at Duke University when she
was just 16. Athey initially pursued a dual-degree in mathematics and computer
science, but was led to economics through a research position studying the
effects of regulation on government contractor behavior. Athey went on to earn a Ph.D. from the
Stanford Graduate School of Business. Compelled to understand how firms could
better approach risky business decisions, Athey’s groundbreaking dissertation
developed a model that analyzed risk on a highly-detailed level to devise
specified strategies on how firms could manage these risks more effectively.
Determined to cultivate precision amidst a theory-driven field,
Athey developed a knack for applying mathematical models to complex economic
behaviors that often had the reputation of being unquantifiable. Highly sought after in her post-graduate
years, Athey was offered positions at nearly two dozen of the most prestigious
universities in the US. Her resume boasts teaching positions at MIT, Stanford,
and Harvard. In 2013, Athey came full circle, accepting a teaching position
back at Stanford University Graduate School of Business where she is currently
a professor of the economics of technology.
The broad scope of Athey’s
research interests are representative of her comprehensive skill set and
extensive knowledge of economics. Right now, Athey’s research is focused on the
economics of the internet; she is passionate about big data, online
advertising, and cyber security. An article written by May Wong and published
in Stanford News on August 3, 2017 highlights a paradoxical discovery Athey recently made after studying over 3,000 MIT undergraduates. Athey’s findings reveal that
the level of security people say they prefer is inconsistent with the measures they are willing
to take to obtain that security. Essentially, when it comes to the internet,
regardless of your security preferences, most people do what is convenient. The
implications of these findings have the power to shape the next era of
policymakers when it comes to protecting US citizens in a digital age.
I don’t even need to get into
Athey’s extensive list of awards and acknowledgements; the impact of her
presence in economics is obvious. Athey has already left an impressive stamp in
the field and her legacy is far from over. I think a key feature of Athey is
her ability to synthesize diverse topics together with economics at the core
of it all. This ability likely stems from her impressive platform of
undergraduate training, combined with an innate aptitude that should not be
discounted. The work Athey has done in industrial organization is the most
direct link to this Econ 490 course, but I would argue that the way Athey
conducts much of her research can be used to exemplify the topics we
will discuss in this course. As someone who has held integral roles in huge,
global corporations like Microsoft and Expedia, Athey clearly knows a thing or
two about the economics of organizations.
While I was unaware of Susan
Athey before this class, I’m glad my alias has introduced me to this inspiring
and intelligent female. In other economics courses I’ve taken, we tend to focus
on tried theories from old, dead guys. It was refreshing to learn about a
current figure who is stepping outside the walls of theory, observing the
trends of an evolving society, and applying innovative practices like
econometrics and machine learning to quantify these behaviors. I would enjoy discussing
her further if any of her published works are within the scope of the economics
of organizations as this course covers it.
References:
Regarding your last paragraph, at present I don't plan to have us cover any of Athey's work, as the Milgrom and Roberts textbook for the course was published before Athey got her PhD. That said, I welcome you to read some of here "In The Media" pieces, which should be accessible to you. You might then choose to blog on one or two of those as an alternative to blogging to the prompt I give. That is perfectly okay, as long as you can tie the piece to our course in some fashion.
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