The Seal of Caldwell College

Prof. Anatoly Kandel, Ph.D.

                                    Professor of Business

                                    The Ruane-Toohey Chair in Economics

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Office: Student Center, room# 4238
Campus Extension: 3450
E-mail Address: 

Spring 2010  OH M 10:00-11:00, 6:00-7:00; W 2:00-3:00, 6:00-7:00; R 6:00-7:00.



Ph.D. in Economics, Columbia University, New York, 2000.

M.Phil. in Economics, Columbia University, New York, 1994.

Ph.D. in Economics, Institute of World Economy and International Relations, Moscow, 1972.

M.Phil. in Political economy, Leningrad State University, Leningrad, 1969.


Professional Affiliations

American Economic Association, Strategic Management Society, Academy of Management


Teaching Interests

Managerial economics, Strategic Management, Microeconomics, Decision analysis.

Design and development of new courses.


Research Interests

Strategy process, Decisions under Uncertainty, Ill structured decision problems, Competitive analysis and performance.   


Latest Publications

Entrepreneurship: Getting Nonnormality Right, in A-P. Refenes, Ed, Quantitative Methods in Finance, Dardanosnet, 2004 (with E. Tsionas).


Hayek’s Knowledge Problem: a Reconsideration, in Progress in Macroeconomic Research, Vol. 12, 2008.


Latest Presentations

Strategic Process: Ex ante Blindness and Recursive Non-computability. The 26th International Conference of Strategic Management Society, Vienna, Austria, October 2006.


A Fallacy of the Outcome Effect Hypothesis. The 4th Conference on Performance Measurement and Management Control. Nice, France, September 2007.


Tango of Strategy and Intuition under Uncertainty. The 27th International Conference of Strategic Management Society, San Diego, CA, October 2007. This paper was included in the ten best papers of the Conference.


Intuition and Strategic Decision Rationality. The 2008 Academy of Management Conference, Anaheim, CA, June 2008. 


Tacit Knowledge, Intuition, and Strategic Process by CEOs (with M. Kriger). The 28th International Conference of Strategic Management Society, Cologne, Germany, October 2008. 


Implicit Learning and Intuitions are Intrinsic to Strategic Choices under Complexity (with M. Kriger and B. Duarte). The 2nd Israel Strategy Conference, Tel Aviv, December 2008.


The Discovery and Creation of Superior Strategic Opportunities in Information Industries (with M. Kriger and B. Duarte). The 29th International Conference of Strategic Management Society, Washington, DC, October 2009. 


Strategic Reasoning under Uncertainty. The 3rd Israel Strategy Conference, Beer-Sheba, December 2009.


Papers and presentations under review

Differential Models of Managerial Probabilistic Reasoning.

Perspectives on Uncertainty-Reducing Strategies.

Creation of New Markets as Strategic Entrepreneurship (with B. Duarte).




BU245 Decision Analysis

BU400 Quantitative Financial Economics

BU452 Intermediate Microeconomics

BU455 Financial Economics

BU694 Managerial Economics



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