Keith J. Crocker

Color portrait of Keith J. Crocker

Professor, The William Elliott Chaired Professor of Insurance and Risk Management, Department Head of Risk Management

Department Risk Management
Office Address 355B Business Building
Phone Number 814-865-4172
Email Address ist@psu.edu

Download Photo Personal Website


Professor Keith J. Crocker joined the Smeal College of Business in 2003 as the William Elliott Chaired Professor of Insurance and Risk Management. He holds a B.A. from Washington and Lee University in mathematics and economics, and an M.S. and a Ph.D. from Carnegie Mellon University in economics. Prior to his current position at Penn State, Professor Crocker was the Waldo O. Hildebrand Professor of Risk Management and Insurance, and Professor of Business Economics and Public Policy, at the University of Michigan Business School. His previous experience includes appointments as Professor of Economics at The Pennsylvania State University, where he taught courses in law and economics, microeconomics, and industrial organization, as Assistant Professor in Economics Department at the University of Virginia, and as staff economist at the Federal Trade Commission.

Expertise

Professor Crocker has served as an expert witness in cases involving antitrust and insurance concerns, including captive taxation and workers compensation. His research interests have focused primarily on contracting issues, with a particular emphasis on the role of transaction costs, adverse selection, and moral hazard in the design of agreements. Professor Crocker's current topics of research include the examination of tax and accounting fraud, claims fraud in the context of insurance settlements, and the role of job attachment in the design of optimal employer-sponsored health insurance policies.

Education

Ph D, Economics, Carnegie Mellon University, 1981

MS, Economics, Carnegie Mellon University, 1978

BA, Mathematics and Economics, Washington and Lee University, 1976

Courses Taught

BA 533 – Econ for Mgrs (2)
An introduction to the tools of economic decision making and a consideration of firm, industry, and global economic influences on economic desicion making.

B A 597D – Advanced Microeconomic Theory
taught two week module

B A 533 – Economics for Managers (2)
An introduction to the tools of economic decision making and a consideration of firm, industry, and global economic influences on economic desicion making.

Selected Publications

Crocker K. J., Letizia P., "Optimal Policies for Recovering the Value of Consumer Returns." Production and Operations Management, 2014.
Crocker K. J., Snow A., "The Theory of Risk Classification." Handbook of Insurance, (Springer), 2013, Invited.
Crocker K. J., Snow A., "Multidimensional Screening in Insurance Markets with Adverse Selection." Journal of Risk and Insurance, vol. 78, 2011, pp. 287-307.
Crocker K. J., Snow A., "Background Risk and the Performance of Insurance Markets under Adverse Selection." Geneva Risk and Insurance Review, vol. 33, 2008, pp. 137-160.
Crocker K. J., Moran J., "Stable relations." Leader's Edge, 2008.
Crocker K. J., Slemrod J., "The Economics of Earnings Manipulation and Managerial Compensation." RAND Journal fo Economics, 2007, pp. 698-713.

Editorships

Geneva Risk and Insurance Review, Editorial Board, January 2013 - Present
Journal of Risk and Insurance, Editor, January 2013 - Present
Journal of Economics and Business, Editorial Board, January 2010 - Present
Journal of Risk and Insurance, Co-Editor, January 2010 - December 2012
Geneva Risk and Insurance Review, Co-Editor, January 2002 - January 2012