William Schulze recognized as 2020 Fellow of the Association of Environmental and Resource Economists

William Schulze

William Schulze, visiting professor and co-director, Center for Behavioral Economics and Decision Research

William Schulze, visiting professor and co-director of the Behavioral Economics and Decision Research Center, has been elected as a 2020 Fellow for outstanding contributions to the advancement of the profession of environmental and resource economics.

At a glance:

Award received

2020 Fellow

Awarding body

Association of Environmental and Resource Economists (AERE)

Recipient

William Schulze, visiting professor and co-director of the Behavioral Economics and Decision Research Center (BEDR), Charles H. Dyson School of Applied Economics and Management

About William Schulze

Schulze obtained a PhD from the University of California, Riverside.

His research interests span topics in behavioral, public, energy, and environmental economics. His research record has received over 12,800 Google Scholar citations. More importantly, Schulze has made foundational contributions during multiple eras of the field. In the mid-1970s, as the field was organizing, Schulze provided several theoretical and methodological advances that remain important today, including a paper that illustrates the theory of optimal extraction. His work in this early era also helped build the foundation of modern nonmarket valuation, where Schulze and his co-authors introduced ideas related to incentive compatible designs and validity assessment. As the field matured he was an early innovator in using experiments to understand the performance of valuation methods.

Professor Schulze specializes in behavioral, public, energy and environmental economics. Early in his career he focused on theoretical issues in the new field of environmental and resource economics, including efficient ways to regulate emissions and management of non-renewable resources. Later as the field matured, his work focused on ways to measure the benefits and costs of environmental improvement. This empirical research revealed that many of the underlying assumptions of economic theory were inconsistent with actual behavior when people faced risks or situations involving loss. He was an early adopter of using methods from experimental and behavioral economics to attempt to develop a basic understanding of human behavior essential to improving economic policy and institutions.

About the award

AERE announced the 2020 Fellows acknowledged for their significant contributions to the advancement of the profession of environmental and resource economics. The award, established in 2005, honors recipients at the AERE Summer Conference, usually held in early June. To be considered for this prestigious award, individuals must be nominated through a submissions that outlines their contributions to the field that warrant the award.

“I am delighted that Bill received designation as a Fellow of the Association of Environmental and Resource Economists,” stated Harry Kaiser, PhD., Gellert Family Professor and associate dean for academic affairs at the Charles H. Dyson School of Applied Economics and Management. “He has long been a world-renowned leader of environmental economics, a mentor to countless graduate students and professionals in the field, and a fantastic colleague. Bill is very deserving of this high honor.”

According to Schulze’s nomination letter, his contributions go far beyond his publication record:

“His research record alone does not convey the enormous contribution Schulze has made to the research output of other faculty members and to graduate and undergraduate students. In 1994, he founded the Laboratory for Experimental Economics and Decision Research, and developed courses built around students undertaking hands-on experiments in economic decision-making in the lab. While today many programs have such lab-based courses in experimental and behavioral economics, this was extremely rare when Schulze launched this at Cornell University. His creativity and vision—indeed, courage—to develop a new method of hands-on instruction caught on quickly.”

“Schulze is clearly one of the founders of the field of environmental economics. He was an early pioneer of using economic theory and methods to study a wide range of questions related to natural resource use and environmental protection that essentially spawned our field. The breadth and depth of his contributions over the past decades are truly remarkable.”

Learn more about Professor William Schulze

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