معرفی
Steven Gjerstad is a Presidential Fellow at the Economic Science Institute within The George L. Argyros College of Business and Economics at Chapman University, Orange, California. His research integrates experimental economics with real-world financial crises, focusing on housing bubbles, market efficiency, and balance sheet dynamics. Contact details include Wilkinson Hall 119 and phone (714) 628-7282.
Education:
- Bachelor of Science, University of Minnesota - Twin Cities
- Master of Arts, University of Minnesota - Twin Cities
- Ph.D., University of Minnesota - Twin Cities
Gjerstad specializes in experimental validation of economic theories, particularly price adjustment in exchange economies and parallels between historical financial crises (e.g., 1929 vs. 2008). His work examines how household and bank balance sheets drive economic cycles, often collaborating with Nobel laureate Vernon L. Smith. He applies time series econometrics to experimental data, investigating slow convergence to equilibrium and policy implications for banking regulation.
His 2009-2021 publications reveal consistent focus on experimental market mechanisms and financial instability. Key trends include analyzing housing bubbles through historical lenses, advocating for bondholder-led bank reorganization over bailouts, and exploring individual rationality in asset markets. Much of his output appears in high-impact journals like Economic Theory and PNAS, alongside public commentary in the Wall Street Journal and international media.
No scientific awards, fellowships, or medals are documented in the provided materials.
There is no mention of graduate students advised or research grants administered in the source texts.
As a core member of Chapman University's Economic Science Institute, Gjerstad conducts experimental research on market behavior and financial systems. The institute functions as his primary research hub, facilitating collaborations on laboratory-based economic analysis and contributing to broader academic discourse through conference presentations and scholarly networks.
