Pamela M. Schmitt
Professor of Economics, U.S. Naval Academy
Director of Academic Counseling
United States Naval Academy
Department of Economics
589 McNair Rd Stop
Annapolis, Maryland 21402
Phone: (410) 293-6888
Fax: (410) 293-6899
Email: pschmitt@usna.edu
Office: Nimitz 061
Education
B.S., Villanova University,
Mathematics, l995
M.A., Indiana University, Economics, l996
Ph.D., Indiana University, Economics, 2000
Thesis Title: Bargaining on Wages and Competition in Price and Product Quality
Thesis Co-Chairs: James M. Walker
and David R. Schmidt
Experience
Professor, USNA 2011 - present
Director of Academic Counseling, USNA 2011 – present
Associate Professor, USNA 2005-2011
Assistant Professor, USNA, 2000-2005
Associate Instructor, Indiana
University 1996-2000
Areas of Specialization
Experimental Economics
Industrial Organization
Game Theory
Public Economics
STUDENT INFORMATION:
Past Courses:
FE210:
Principles of Economics
FE210Q:
Quantitative Economics, Principles of
FE341:
Microeconomics
FE363 and FE365: Intermediate Macroeconomics
FE431:
Public Finance
FE450: Game Theory
FE460: Public Policy Towards Business Economics
FE461: Industrial Organization
FE486A: Law and Economics
SA475E:
Quantitative Economics Capstone Seminar
FE500: Honors Research
Seminar
PROFESSIONAL INFORMATION:
Publications
Does
everyone accept a free lunch? Decision making under (almost) zero cost
borrowing (with Mike Insler and Jake Compton (USNA
2012)), forthcoming in Research in Experimental
Economics: Financial
Economics, 2013, vol. 16.
Institutions
and Information in Multilateral Bargaining Games: Theory and Experimental
Evidence (with Kurtis Swope, Robert Shupp, and John Cadigan) The
B.E. Journal of
Economic
Analysis & Policy June
2013, 14(1) 485 – 524.
Cooperation
limitations under a one-time threat of expulsion and punishment (with Aaron Lowen) Journal of Socio-Economics
Volume 44, June 2013,
68 – 74.
An Experimental Dynamic
Public Goods Game with Carryover (with Patrick Wayland (USNA 2010), Kurtis
Swope, and John Cadigan)
Journal of Economic Behavior and
Organization,
80(3), (2011) 523 – 531.
The Holdout Problem and Urban Sprawl: Experimental Evidence (with Kurtis Swope, Robert Shupp, and John Cadigan) Journal of Urban Economics, 69 (2011) 72–81.
Contracts, Behavior, and the Land Assembly Problem:
Experimental Evidence" (with Ryan Wielgus (USNA
2009), Kurtis Swope, and John Cadigan)
Research
in Experimental Economics: Experiments
on Energy, the Environment, and Sustainability, 2011, vol. 14, 151-180.
Strategic Entry Deterrence
and Terrorism: Theory and Experimental Evidence (with John Cadigan)
Public Choice, 143(1-2)
2010, 2-33.
An Experimental Study of the
Holdout Problem in a Multilateral Bargaining Game (with Kurtis
Swope, Robert Shupp, and John Cadigan),
Southern Economic
Journal,
76(2) 2009, 444-457.
Personality Preferences in
Laboratory Economic Experiments (with Swope, K.J., Cadigan,
J.,and Shupp, R.) Journal
of Socio-Economics 37 (2008) 998-1009.
Personality
Preferences and Pre-Commitment: Behavioral Explanations in Ultimatum Games
(with Robert Shupp, Kurtis
Swope, and Justin Mayer (USNA 2003)),
Journal of Economic Behavior and Organization. Vol. 66/3-4, 2008, 597-605. Instructions
Social
Position and Distributive Justice: Experimental Evidence (with Swope, K.J., Cadigan, J., and Shupp, R.) Southern Economic
Journal, 74(3) 2008, 811-818. Instructions
The
Performance of Economics Graduates over the Entire Curriculum: The Determinants
of Success with Kurtis J. Swope, Journal
of Economic Education, 37(4), 2006, 387-394.
On
the Role of the Hostage in Ultimatum Bargaining Games (with Robert Shupp, and Kurtis Swope) Journal
of Socio-Economics, 35(3) 2006, 399-411.
Multi-Period
Rent-Seeking Contests with Carryover: Theory and Experimental Evidence (with
Robert Shupp, Kurtis Swope,
and John Cadigan),
Economics of Governance, 5 (3), 2004, 187-211.
On Perceptions of Fairness:
The Role of Valuations, Outside Options, and Information in Ultimatum
Bargaining Games, Experimental Economics,
7 (1), 2004, 49-73.
Instructions
Data
A Vertically Differentiated
Duopoly with Marginal Cost Differentials, International Game Theory Review, 5 (1),
2003, 73-81.
The Impact of a Marginal Cost
Increase on Price and Quality: Theory and Evidence from Airline Market Strikes,
Australian
Economic Papers, 41 (3), 2002, 282-304.
Collective Action With Incomplete
Commitment: Experimental Evidence, (with Kurtis
J. Swope and James M. Walker), Southern Economic
Journal, 66 (4), 2000, 829-854.
Working
Papers –
some papers available at RePEc
“That’s
My Final Offer! A
Laboratory Study of Unanimous-Consent Bargaining with Asymmetry and Credible
Commitment” (with Kurtis Swope
and John Cadigan), revised and resubmitted for publication
“”Open line of credit:”
Under no borrowing constrains, how do young adults
invest?” (with Mike Insler
and Jake Compton (USNA 2012))
“No School Left Behind? The
Competitive Effect of Charter Schools on Traditional Public Schools” (with
Benjamin Currin)
“A
Behavior Model of Multilateral Bargaining and Holdout: Theory and Experimental
Evidence” (with Kurtis Swope, John Cadigan, and Robert Shupp)
“Inequality,
Personality, and the Demand for Fair Outcomes” (with John Cadigan
and Kurtis Swope)
Presentations and Workshops
Southern
Economic Association, November 2011,Washington, D.C. "Information That’s My Final Offer! A Laboratory Study of
Unanimous-Consent Bargaining with Asymmetry and
Credible Commitment " (co-authors Kurtis Swope
and John Cadigan)
Southern
Economic Association, November 2010, Atlanta, GA. "Information,
Institutions, and the Holdout Problem: Theory and Experimental Evidence"
(co-authors Kurtis Swope,
Robert Shupp, and John Cadigan)
Southern
Economic Association, November 2010, Atlanta, GA. "Research on Cooperation
Under Threat of Expulsion” (co-author Aaron Lowen)
Southern
Economic Association, November 2010, Atlanta, GA. "A Dynamic Public Good
Game” (co-authors Patrick Wayland (USNA 2010), Kurtis Swope, and John Cadigan)
Southern
Economic Association, November 2009, San Antonio, TX. "Contracts,
Behavior, and the Land Assembly Problem:
Experimental Evidence" (co-authors Ryan Wielgus
(USNA 2009), John Cadigan,
and Kurtis Swope)
Southern
Economic Association, November 2008, Washington, D.C. "Information,
Institutions, and the Holdout Problem: Theory and Experimental Evidence"
(co-authors John
Cadigan, Robert Shupp, and Kurtis
Swope)
Southern
Economic Association, November 2008, Washington, D.C. “Groupsize,
Competition, and the Holdout Problem" (co-authors John Cadigan,
Robert Shupp, and Kurtis Swope)
Western
Economic Association, July 2008, Honolulu, Hawaii. Presented "A Laboratory
Study of Holdout and Efficiency in a Multilateral Bargaining Game"
(co-authors John Cadigan,
Robert Shupp, and Kurtis Swope)
Villanova University,
March 2008, Villanova, PA. Presented "A Laboratory Study of Holdout and
Efficiency in a Multilateral Bargaining Game" (co-authors John Cadigan, Robert
Shupp, and Kurtis Swope)
Southern
Economic Association, November 2007, New Orleans, LA. "A Laboratory Study
of Holdout and Efficiency in a Multilateral Bargaining Game" (co-authors
John Cadigan,
Robert Shupp, and Kurtis Swope)
Southern Economic
Association, November 2007, New Orleans, LA. "Strategic Entry Deterrence
and Terrorism: Theory and Experimental Evidence" (with John Cadigan)
Southern
Economic Association, November 2007, New Orleans, LA. Presented "Comparing
the Performance of College and High School Students on the Advanced Placement
Economics Exams" (co-author Fekru
Debebe)
Southern
Economic Association, November 2004, New Orleans, LA. Presented “Inequality,
Personality, and the Demand for Fair Outcomes” (coauthored with John Cadigan and Kurtis
Swope)
Southern Economic
Association, November 2003, San Antonio, TX. Presented “On the Role of the
Hostage in Ultimatum Bargaining Games” (coauthored with Robert Shupp and
Kurtis
Swope)
Society
for the Advancement of Behavioral Economics - Annual Meetings July 28
2003, Lake Tahoe, NV. Presented "On the Role of the Hostage in
Ultimatum Bargaining Games"
(coauthored with Robert Shupp
and Kurtis Swope)
Southern
Economic Association, November 2002, New Orleans, LA. Presented “Rent-Seeking
with Expenditure Carry-Over: Theoretical and Experimental Evidence” (coauthored
with
Robert Shupp, Kurtis Swope, and John Cadigan)
Southern
Economic Association, November 2002, New Orleans, LA. Co-presented “Horizontal
and Vertical Product Differentiation: Theory and Evidence from the Minneapolis
Retail
Gasoline Market” (co-author Melanie Stock)
American
Academy of Neurology, May 2001, Philadelphia, PA. Presented “Clinical Pathways
and the Costs of Stroke Care (co-authors Genevieve Schmitt, Matthew Baker,
Marcella
Wozniak and Ruth Parker).
Southern
Economic Association, November 2000, Washington DC. Presented “Ultimatum Games
with Asymmetric Payoffs, Outside Options, and Incomplete Information.”
Southern
Economic Association, November 2000, Washington DC. Presented “Price and
Quality Effects After a Strike: Theory and Evidence from Airline Markets.”
Indiana
University: Workshop in Microeconomics, April 2000. Presented “Ultimatum Games
with Asymmetric Payoffs, Outside Options, and Incomplete Information.”
Southern
Economic Association, November 1999, New Orleans, LA. Presented “Quality and
Price Effects in a Vertically Differentiated Duopoly with Marginal Cost
Differentials.”
Southern
Economic Association, November 1999, New Orleans, LA. Presented “Collective
Action with Incomplete Commitment: Experimental Evidence” (co-authors Kurtis J.
Swope
and James M. Walker).
Indiana
University: Workshop in Microeconomics, April 1999. Presented Quality and Price
Effects in a Vertically Differentiated Duopoly with Marginal Cost
Differentials.”
Indiana
University: Women in Science Research Day, March 1998. Poster presentation and
discussion of “Collective Action with Incomplete Commitment: Experimental
Evidence”
(co-authors Kurtis J. Swope
and James M. Walker).
Indiana
University: Workshop in Political Theory and Policy Analysis, February 1998.
Presented “Collective Action with Incomplete Commitment: Experimental Evidence”
(co-authors
Kurtis J. Swope and James M. Walker).
Honors,
Awards, and Nominations
National
Science Foundation grant #0720696 “RUI: Collaborative Research: Laboratory
Studies of Holdout and Efficiency in Multilateral Bargaining”. Co-PI Kurtis Swope, 2007 –
2011.
1951
Faculty Research Excellence Award Nominee from the Economics Department for the
yard-wide research award, USNA 2007: 2008, 2009, 2010, 2011; honorable mention
2009.
APGAR
Award for Excellence in Teaching, award in recognition of excellence in
teaching at USNA 2003 - 2004, given annually to a junior faculty member or
military instructor.
Nominee
from the Economics Department for the Civilian Faculty Award for Excellence in
Teaching, given in honor of Professor Theodore J. Benac.
This is a yard wide Teaching
Award, USNA 2003 - 2004 and USNA 2002 - 2003.
Nominee
from the Economics Department for the APGAR yard wide Teaching Award for junior
faculty, USNA 2003 - 2004, 2001 - 2002.
Phillip
Saunders Outstanding Associate Instructor Award, award in recognition of
excellence in teaching undergraduate economics, Indiana University, April 2000.
Doctoral
Student Grant-in-Aid of Research Recipient, received December 1999. Competitive
grant for doctoral research for all subject areas at Indiana University.
Fred
Witney Scholarship Award, award in recognition of
excellence in applied microeconomics, Indiana University, April 1999.
Teaching
Excellence Recognition Award, award recognizing outstanding classroom teaching
at Indiana University, Indiana University, April 1999.
Professional
Affiliations (membership dates vary)
1997
Summer Visiting Graduate Student Workshop for Experimental Economics, Economic
Science Laboratory for Research and Education, University of
Arizona, Tucson, AZ, August 1997.
Member, (AEA) American Economic Association
Member, (ESA) Economic Science Association
Member, (SEA) Southern Economic Association
Member, (CAEE) Chesapeake Association of Economic Educators
Member, (CSWEP) The Committee on the Status of Women in the Economics
Profession
ETS
(Educational Testing Service) AP Economics
Chief Reader
Microeconomics; 2013 – 2017
Test Development
Committee 2006 – present; chair 2009 – 2013.
Table Leader 2003, 2005,
2007 – 2010.
Reader 2001 - 2002.
Referee
National Science
Foundation
Games and Economic
Behavior
Economic Inquiry
International Journal of
Industrial Organization
Journal of Behavioral
Economics and Organizations
Journal of Industrial
Economics
Organizational Behavior
and Human Decision Processes
Oxford Economic Papers,
Eastern Economic Journal
Managerial and Decision
Economics
International Game Theory
Review
Australian Economic
Papers
College Board, created activities for AP Special Focus
workbook, 2007, 2008, 2012.
NCEE, created activities for AP economics review workbook, 2001.
Review economics textbooks for Frank and Bernanke’s first and second editions
principle textbook, Shiller's principles text 1997 –
2002, Anderson-Krueger 2012.
Review AP Test Prep Workbook for Pearson Education
Publishing, reviewed Foundations of Economics AP* Edition by Mark Rush to
accompany the Bade and Parkin AP Edition textbook,
2006.
INSTITUTIONAL
INFORMATION
Academy
Committees/Service
Admissions Board 2013 – present.
Faculty
Awards: 1951 Faculty Research Excellence Award Committee, 2012 – 2014.
Division Senior Advisor 2011 – present; Senior
Academic Advisor, 2008 – 2011.
FE210
Validation Coordinator, 2003 – 2010.
SQE
– Quantitative Economics Committee, 2006 – 2009.
Honors Program Advisor 2005 – 2009.
Faculty
Senate Finance Committee, 2003 – 2005.
Member
of the Task Force to study a proposed USNA Child Care Facility, Spring 2005 – Fall 2006.
Faculty
Senator, 2001 – 2003.
FE210
Coordinator, 2001 – 2005.
Student Awards Committee, 2002, 2009.
Plebe
Advisor 2003 – 2006.
Curriculum Review for Economics (Visiting Committee
Review), 2000 – 2001.
London School of Economics Coordinator, 2001 – 2008,
2012.
Honors/Student
Advisor, USNA
2002,
Tyler Forrest “Customer Racial Discrimination in the Professional Sports Card
Market: The Case of League
Majority versus League Minority, University Avenue
Undergraduate Journal of Economics, Vol. VI, N. I (2002-
2003).
2002, Melanie Stock, “Product Differentiation in the
Minneapolis Retail Gasoline Industry.”
2003, David Crabbe, “Vertical Differentiation in the
U.S. Oil Industry and its Impact on Profitability.”
2003,
Justin Mayer, “Ultimatum Bargaining with Pre-commitment: Fairness or
Personality Type?”
2004,
James Light, “An Empirical Investigation of Product Differentiation in the
Retail Gasoline Industry.”
2006, W.
Christopher Crabbe, “Group Self-Enforcement and Conformance to Rules.”
2007,
Christopher Engdahl, “The Impact of Role Reversals
and Average Offers in Ultimatum Bargaining.”
2009, Jake Allen,
“Multi-Period Ultimatum Bargaining.”
2010,
Patrick Wayland, “A Dynamic Public Good Game.”
2011, Christopher Anderson,
“Price Dispersion and Search Cost: How do Frequency of Purchase and “Type” of
Good
Impact
Price Dispersion?” (version submitted for publication)
2012, Benjamin Currin, “No School Left Behind? The Competitive Effect of
Charter Schools on Traditional Public
Schools”
2012 (with Mike Insler)
Jake Compton, “Investment Behavior Without Borrowing
Constraints”