Michael R. Baye
- Professor of Business Economics & Public Policy
- Bert Elwert Professorship in Business
- Adjunct Professor of Economics, COAS
- PhD, Purdue University, 1983
- MS, Purdue University, 1981
- BS, Texas A&M University, 1980
- Bert Elwert Professor of Business, Kelley School of Business, Indiana University, 1997-present
- Director, Bureau of Economics, Federal Trade Commission, 2007-2008
Awards, Honors & Certifications
- Outstanding Researcher, Kelley School of Business, 1999-2000; 2003-2004, 2009-2010
- Teaching Excellence Award, Kelley School of Business, 1997-1998; 1998-1999; 1999-2000
Industrial Organization, Microeconomics, Game Theory, E-Commerce, Antitrust
Michael Baye is the Bert Elwert Professor of Business at Indiana University’s Kelley School of Business. He served as the Director of the Bureau of Economics at the US Federal Trade Commission during 2007 and 2008. Michael has won numerous awards for his outstanding teaching and research. His academic research focuses mainly on pricing strategies and their impact on consumer welfare and firm profits in both online and traditional markets. He has published over 75 articles and books on topics that include mergers, auctions, patents, advertising, information, game theory, online markets and other areas related to antitrust and consumer protection. Additionally, his academic research on pricing strategies in online markets has been featured in The Wall Street Journal, Forbes, and The New York Times. Michael has lectured and spoken at conferences and academic institutions throughout North America and Europe, and has held visiting appointments at Cambridge, Oxford, Erasmus University, Tilburg University, and the New Economic School in Moscow. In addition to his extensive academic publications and practical antitrust experience, he has also served on numerous editorial boards in economics as well as marketing.
Baye, Michael R., Babur De Los Santos and Matthijs R. Wildenbeest (2015), "Searching for Physical and Digital Media: The Evolution of Platforms for Finding Books," NBER's Economics of Digitization, ed. by S. Greenstein, A. Goldfarb, and C. Tucker. University of Chicago Press, 137-165.Read Abstract ››
- Michael R. Baye and Jeffrey T. Prince (2014), Managerial Economics and Business Strategy (8th Edition), McGraw-Hill.
De los Santos, Babur I., Michael R. Baye, and Matthijs Wildenbeest (2013), "The Evolution of Product Search," Journal of Law, Economics & Policy, 9:2, 201-221.
Baye, Michael R., Dan Kovenock, and Casper G. de Vries (2012), “The Herodotus Paradox,” Games and Economic Behavior, Vol. 74, pp. 399-406. Read Abstract ››
Michael R. Baye, Dan Kovenock, and Casper G. de Vries, “Contests with Rank-Order Spillovers,” Economic Theory, Vol. 51 (2012), pp. 315-350. Read Abstract ››
Baye, Michael R., Xiaxun Gao, and John Morgan, “On the Optimality of Clickthrough Fees in Online Markets,” Economic Journal, Vol. 121, (November 2011), pp. 340-367. Read Abstract ››
Michael R. Baye and Joshua D. Wright, “Is Antitrust Too Complicated for Generalist Judges? The Impact of Economic Complexity and Judicial Training on Appeals,” Journal of Law and Economics, Vol. 54, No. 1 (February 2011), pp. 1-24. Read Abstract ››
Michael R. Baye, J. Rupert Gatti, Paul Kattuman, and John Morgan, "Clicks, Discontinuities, and Firm Demand Online," Journal of Economics & Management Strategy, Vol. 18, No. 4 (Winter 2009), pp. 935-975. Read Abstract ››
Michael R. Baye and John Morgan, “Brand and Price Advertising in Online Markets,” Management Science, Vol. 55, No. 7 (July 2009), pp. 1139-1151. Read Abstract ››
Michael R. Baye, John Morgan, and Patrick Scholten, "Information, Search, and Price Dispersion," Chapter 6 in Handbook in Economics and Information Systems Volume 1 (T. Hendershott, Ed.), Amsterdam: Elsevier, 2006. Read Abstract ››
Michael R. Baye, Dan Kovenock, and Casper G. de Vries, "Comparative Analysis of Litigation Systems: An Auction Theoretic Approach," Economic Journal, Vol. 115 (July 2005), pp. 583-601. Read Abstract ››
Michael R. Baye, John Morgan, and Patrick Scholten, “Price Dispersion in the Small and in the Large: Evidence from an Internet Price Comparison Site,” Journal of Industrial Economics, Vol. 52, No. 4 (December 2004), pp. 463-496. Winner of the Journal of Industrial Economics “Best Article Prize,” 2005. Read Abstract ››
Maria Arbatskaya and Michael R. Baye, "Are Prices 'Sticky' Online? Market Structure Effects and Asymmetric Responses to Cost Shocks in Online Mortgage Markets," International Journal of Industrial Organization, Vol. 22, No. 10 (2004), pp. 1443-1462. Read Abstract ››
Michael R. Baye and John Morgan, "Price Dispersion in the Lab and on the Internet: Theory and Evidence," Rand Journal of Economics, Vol. 35, No. 3 (Autumn 2004), pp. 446-449. Read Abstract ››
Michael R. Baye and Heidrun H. Hoppe, "The Strategic Equivalence of Rent-Seeking, Innovation, and Patent-Race Games," Games and Economic Behavior, Vol. 44 (2003), pp. 217-226.
Michael R. Baye and John Morgan, "Winner-Take-All Price Competition," Economic Theory, Vol. 19 (2002), pp. 271-282. Read Abstract ››
Michael R. Baye and John Morgan, "Information Gatekeepers on the Internet and the Competitiveness of Homogeneous Product Markets," American Economic Review, Vol. 91, No. 3 (June 2001), pp. 454-474. Read Abstract ››
Michael R. Baye and Onsong Shin, “Strategic Behavior in Contests: Comment,” American Economic Review, Vol. 89, No. 3 (June 1999), pp. 691-693.
Michael R. Baye, Dan Kovenock, and Casper G. de Vries, “The All-Pay Auction with Complete Information,” Economic Theory, Vol. 8 (1996), pp. 291-305.
Michael R. Baye, Keith Crocker, and Jiangdong Ju, "Divisionalization, Franchising, and Divestiture Incentives in Oligopoly,” American Economic Review, Vol. 86 (March 1996), pp. 223-236. Read Abstract ››
Michael R. Baye and Dan Kovenock (1994), “How to Sell a Pickup Truck: Beat-or-Pay Advertisements as Facilitating Devices,” International Journal of Industrial Organization, Vol. 12, No. 1, pp. 21-33.
Michael R. Baye, Guoqiang Tian, and Jianxin Zhou, “Characterizations of the Existence of Equilibria in Games with Discontinuous and Nonquasiconcave Payoffs,” Review of Economic Studies, Vol. 60 (October 1993), pp. 935-948. Read Abstract ››
- Michael R. Baye, Dan Kovenock, and Casper G. de Vries, “Rigging the Lobbying Process: An Application of the All-Pay Auction,” American Economic Review, Vol. 86 (March 1993), pp. 289-294.
Michael R. Baye, Dan Kovenock, and Casper G. de Vries, “It Takes Two-to-Tango: Equilibria in a Model of Sales,” Games and Economic Behavior, Vol. 4 (1992), pp. 493-510.
Bernard van Praag and Michael R. Baye, “The Poverty Concept when Prices are Income-Dependent,” Journal of Econometrics, Vol. 43 (1990), pp. 153-166.
Paul M. Anglin and Michael R. Baye, “Information, Multiprice Search, and Cost-of-Living Index Theory,” Journal of Political Economy, Vol. 95 (December 1987), pp. 1179-1195. Read Abstract ››
- Michael R. Baye, “A Note on Price Stability and Consumers' Welfare,” Econometrica, Vol. 53 (January 1985), pp. 213-217.
Michael R. Baye. “Price Dispersion and Functional Price Indices,” Econometrica, Vol. 53 (January 1985), pp. 217-223. Read Abstract ››