1966-70, AB (Hons) in Mathematics, University of Michigan; 1978, MS in Statistics and 1979, PhD in Business, Stanford University. 1972-75, Consulting Actuary, Nelson and Warren Inc. Kellogg Graduate School of Management, Northwestern University: 1979-81, Assistant Professor; 1981-82, Associate Professor; 1982-83, Professor. 1982-83, Visiting Professor, Yale University; 1983-85, Professor of Economics and Management; 1985-87, Williams Brothers Professor of Management Studies and Professor of Economics. 1986-87, Ford Visiting Professor of Economics, University of California (Berkeley). Since 1987, Professor of Economics, Stanford; 1989-91, Director, Stanford Institute for Theoretical Economics; since 1993, Shirley R. and Leonard W. Ely Jr Professor of Humanities and Sciences. Numerous professional activities and affiliations. Author. Recipient of awards, fellowships, grants and other honours.