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The U.S. Naval Academy
Pamela M. Schmitt

Pamela M. Schmitt

Director of Academic Advising
Professor of Economics, U.S. Naval Academy
United States Naval Academy
 Department of Economics
 Nimitz Library 228B 
Annapolis, Maryland 21402 

Phone: (410) 293-1595 
Fax: (410) 293-6899
Email: pschmitt@usna.edu
Office: Nimitz 228B

Curriculum Vita

Education

Experience

  • Professor, USNA 2011 - present
  • Director of Academic Advising, USNA 2011 – present
  • Associate Professor, USNA 2005-2011 
  • Assistant Professor, USNA, 2000-2005 
  • Associate Instructor, Indiana University 1996-2000

Areas of Specialization

Student Information

Current Course:

FE486A: Law and Economics

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

  1. That’s My Final Offer! A Laboratory Study of Unanimous-Consent Bargaining with Asymmetry and Credible Commitment (with Kurtis Swope and John Cadigan), Journal of Behavioral and Experimental Economics, April 2014, vol. 49, 44 – 53.
  2. Does everyone accept a free lunch? Decision making under (almost) zero cost borrowing (with Mike Insler and Jake Compton (USNA 2012)), Research in Experimental Economics: Financial Economics, 2013, vol. 16, 145 -170.
  3. 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. 
  4. Cooperation limitations under a one-time threat of expulsion and punishment (with Aaron Lowen) Journal of Socio-Economics Volume 44, June 2013, 68 – 74.
  5. 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.
  6. The Holdout Problem and Urban Sprawl: Experimental Evidence (with Kurtis Swope, Robert Shupp, and John Cadigan) Journal of Urban Economics, 69 (2011) 72–81.
  7. Contracts, Behavior, and the Land Assembly Problem: Experimental Evidence" (with Ryan Wielgus (USNA 2009), Kurtis Swope, and John Cadigan)
  8. Research in Experimental Economics: Experiments on Energy, the Environment, and Sustainability, 2011, vol. 14, 151-180.
  9. Strategic Entry Deterrence and Terrorism: Theory and Experimental Evidence (with John Cadigan) Public Choice, 143(1-2) 2010, 2-33.
  10. 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.
  11. Personality Preferences in Laboratory Economic Experiments (with Swope, K.J., Cadigan, J.,and Shupp, R.) Journal of Socio-Economics 37 (2008) 998-1009.
  12. 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
  13. 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
  14. 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.
  15. 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.
  16. 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.
  17. 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
  18. A Vertically Differentiated Duopoly with Marginal Cost Differentials, International Game Theory Review, 5 (1), 2003, 73-81.
  19. 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.
  20. 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

  1. “Open line of credit:” Under no borrowing constrains, how do young adults invest?” (with Mike Insler and Jake Compton (USNA 2012))
  2. “No School Left Behind? The Competitive Effect of Charter Schools on Traditional Public Schools” (with Benjamin Currin)
  3. “A Behavior Model of Multilateral Bargaining and Holdout: Theory and Experimental Evidence” (with Kurtis Swope, John Cadigan, and Robert Shupp)
  4. “Inequality, Personality, and the Demand for Fair Outcomes” (with John Cadigan and Kurtis Swope)

Presentations and Workshops

  1. 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)
  2. 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)
  3. Southern Economic Association, November 2010, Atlanta, GA. "Research on Cooperation Under Threat of Expulsion” (co-author Aaron Lowen)
  4. Southern Economic Association, November 2010, Atlanta, GA. "A Dynamic Public Good Game” (co-authors Patrick Wayland (USNA 2010), Kurtis Swope, and John Cadigan)
  5. 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)
  6. 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)
  7. Southern Economic Association, November 2008, Washington, D.C. “Groupsize, Competition, and the Holdout Problem" (co-authors John Cadigan, Robert Shupp, and Kurtis Swope)
  8. 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)
  9. 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)
  10. 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)
  11. Southern Economic Association, November 2007, New Orleans, LA. "Strategic Entry Deterrence and Terrorism: Theory and Experimental Evidence" (with John Cadigan)
  12. 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)
  13. Southern Economic Association, November 2004, New Orleans, LA. Presented “Inequality, Personality, and the Demand for Fair Outcomes” (coauthored with John Cadigan and Kurtis Swope)
  14. 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)
  15. 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)
  16. 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)
  17. 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)
  18. 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).
  19. Southern Economic Association, November 2000, Washington DC. Presented “Ultimatum Games with Asymmetric Payoffs, Outside Options, and Incomplete Information.”
  20. Southern Economic Association, November 2000, Washington DC. Presented “Price and Quality Effects After a Strike: Theory and Evidence from Airline Markets.”
  21. Indiana University: Workshop in Microeconomics, April 2000. Presented “Ultimatum Games with Asymmetric Payoffs, Outside Options, and Incomplete Information.”
  22. Southern Economic Association, November 1999, New Orleans, LA. Presented “Quality and Price Effects in a Vertically Differentiated Duopoly with Marginal Cost Differentials.”
  23. 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).
  24. Indiana University: Workshop in Microeconomics, April 1999. Presented Quality and Price Effects in a Vertically Differentiated Duopoly with Marginal Cost Differentials.”
  25. 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).
  26. 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

  1. National Science Foundation grant #0720696 “RUI: Collaborative Research: Laboratory Studies of Holdout and Efficiency in Multilateral Bargaining”. Co-PI Kurtis Swope, 2007 – 2011.
  2. 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.
  3. 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.
  4. 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.
  5. Nominee from the Economics Department for the APGAR yard wide Teaching Award for junior faculty, USNA 2003 - 2004, 2001 - 2002.
  6. Phillip Saunders Outstanding Associate Instructor Award, award in recognition of excellence in teaching undergraduate economics, Indiana University, April 2000.
  7. Doctoral Student Grant-in-Aid of Research Recipient, received December 1999. Competitive grant for doctoral research for all subject areas at Indiana University.
  8. Fred Witney Scholarship Award, award in recognition of excellence in applied microeconomics, Indiana University, April 1999.
  9. 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

Other Professional Activities

  • ETS (Educational Testing Service) AP Economics
    • Chief Reader Microeconomics; 2014 – 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”
    • 2014, Brian Holloway “Determining the Income Elasticity of Demand for Food Bank Output 1998-2003”
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