Robert Miller

About

Robert Miller is the Richard M. Cyert and Morris DeGroot Professor of Economics and Statistics at the Tepper School of Business. His academic role encompasses teaching and research in the fields of economics and strategy. As a faculty member at Carnegie Mellon University, he contributes to the school's focus on integrating business, technology, and analytics, aligning with the institution's strategic vision to lead in these areas.

Research topics

• Finance
• Economics
• Business
• Computer Science
• Econometrics
• Microeconomics
• Industrial organization
• Marketing
• Public economics
• Accounting

Selected publications

• Winning by Default: Why is There So Little Competition in Government Procurement?

  The Review of Economic Studies · 2021 · 87 citations

  Senior authorCorresponding

  Abstract Government procurement contracts rarely have many bids, often only one. Motivated by the institutional features of federal procurement, this article develops a principal-agent model where a buyer seeks sellers at a cost and negotiates contract terms with them. The model is identified and estimated with data on IT and telecommunications contracts. We find the benefits of drawing additional sellers are significantly reduced because the procurement agency can extract informational rents fr…

  PublisherDOI

• CCP Estimation of Dynamic Discrete Choice Models with Unobserved Heterogeneity

  Research Showcase @ Carnegie Mellon University (Carnegie Mellon University) · 2018-01-01 · 74 citations

  preprintSenior author

  We adapt the Expectation-Maximization (EM) algorithm to incorporate unobserved hetero- geneity into conditional choice probability (CCP) estimators of dynamic discrete choice problems. The unobserved heterogeneity can be time-invariant, fully transitory, or follow a Markov chain. By exploiting finite dependence, we extend the class of dynamic optimization problems where CCP estimators provide a computationally cheap alternative to full solution methods. We also develop CCP estimators for mixed d…

  PublisherDOI

• Identifying and Testing Models of Managerial Compensation

  The Review of Economic Studies · 2015-01-22 · 64 citations

  articleOpen accessSenior author

  We develop a pure moral hazard model, and a closely related hybrid one, where there are both hidden actions and hidden information, to derive the restrictions from optimal contract theory that characterize set identification. In pure moral hazard models, the expected utility of managers is equalized across states, whereas in a hybrid model the optimal contract equates the expected utility of truth telling with the expected utility of lying. These restrictions are testable. Our identi…cation anal…

  PublisherOA PDFDOI

• Identifying dynamic discrete choice models off short panels

  Journal of Econometrics · 2019-10-29 · 41 citations

  articleSenior authorCorresponding
  PublisherDOI

• Was Sarbanes–Oxley Costly? Evidence from Optimal Contracting on CEO Compensation

  Journal of Accounting Research · 2022 · 29 citations

  Senior authorCorresponding

  ABSTRACT This paper investigates the effects of regulatory interventions on contracting relationships within firms by examining the impacts of the Sarbanes–Oxley (SOX) Act on CEO compensation. Using panel data of the S&P 1500 firms, it quantifies welfare gains from a principal–agent model with hidden information and hidden actions. It finds that SOX: (1) reduced the conflict of interest between shareholders and their CEOs, mainly by reducing shareholder loss from CEOs deviating from their go…

  PublisherDOI

Recent grants

• Design, Data and Biostatistics Core

  NIH · $5.4M · 2004–2030

• Collaborative Research: Applications of CCP estimation to dynamic discrete choice models with unobserved heterogenity

  NSF · $154k · 2007–2010

• NIH Grant R01AG011687

  NIH · $6.0M · 2010

Frequent coauthors

• Maurice Lev

  Hadassah Medical Center

  364 shared

• Constantine J. Tatooles

  Mount Sinai Hospital

  257 shared

• Saroja Bharati

  Rush University Medical Center

  246 shared

• Hugh A. McAllister

  University of Liverpool

  244 shared

• Milton H. Paul

  NHS Greater Glasgow and Clyde

  150 shared

• Glenn C. Rosenquist

  Children's National

  144 shared

• Milton Weinberg

  101 shared

• H. Gunther Bucheleres

  Presbyterian St. Luke's Medical Center

  100 shared

Similar researchers at Carnegie Mellon University

• Denise Rousseauh-76
• David Krackhardth-54
• R. Ravih-54