Education
He obtained a Bachelor of Surgery in industrial engineering from Lehigh University (1966), a Master of Surgery from Stanford University (1967), and a Doctor of Philosophy in operations research (1970) also from Stanford University.
He obtained a Bachelor of Surgery in industrial engineering from Lehigh University (1966), a Master of Surgery from Stanford University (1967), and a Doctor of Philosophy in operations research (1970) also from Stanford University.
He has authored two books and nearly 90 journal articles He then worked at the same place, in the Stanford Graduate School of Business, as assistant professor, promoted to associate professor (1973) and full professor (1978). He is currently the Adams Distinguished Professor of Management at Stanford University.
His research focused on stochastic modelling for business and led to influential results in option theory (with David M Kreps, 1980).
Later he studied Brownian network models for logistics and models for optimizing telephone call centers. More recently he has studied dynamic pricing and revenue management.