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September 2006
VALERIE Y. SUSLOW
Stephen M. Ross School of Business
University of Michigan
701 Tappan Street
Ann Arbor, MI 48109-1234
(734) 763-4510/ Fax (734) 936-0279
suslow@umich.edu
EDUCATION
Ph.D. (Economics) Stanford University 1984
B.A. (Economics)
University of California at Berkeley 1979
(Highest Distinction)
PROFESSIONAL EXPERIENCE
Appointments at Stephen M. Ross School of Business:
Associate Professor 1992 - present
Program Director, August 2001 - present
Quantitative Skills Workshop, Executive MBA Program
Academic Director, Sept. 1995 - July 1999
Evening MBA Program
Program Director, April 1994 - August 1995
Quantitative Skills Workshop, MBA Program
Assistant Professor 1984 - 1992
Other Professional Appointments :
Editorial Board, Senior Editor
Antitrust Law Journal
April 2002 - present
Editorial Board
Journal of Industrial
August 2005 - present
Organization Education
Visiting Professor
Politecnico di Milano, Italy
May 2004 & April 2005
Visiting Professor
INSEAD, France
January - February 2000
Senior Economist
Law & Economics
January - July 1995
Consulting Group (Berkeley, CA)
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PROFESSIONAL EXPERIENCE (cont.)
Other Professional Appointments (cont.) :
Faculty Research Fellow
National Bureau of Economic Research 1991 - 1997
(Industrial Organization Program)
Hoover Institution Fellow
Stanford University
1987 - 1988
Visiting Assistant Professor
Brown University., Economics Dept. Jan. - June 1984
PUBLICATIONS AND RESEARCH
Articles:
"The Economic Impact of the U.S. Export Trading Company Act" (with Margaret Levenstein), Antitrust Law
Journal , Symposium on Empirical Antitrust, forthcoming 2007. (Current version available as Ross School
of Business Working Paper Series, No. 1036; http://ssrn.com/abstract=924381. )
"What Determines Cartel Success?" (with Margaret Levenstein), Journal of Economic Literature, Vol. 54,
March 2006: 43-95.
"Empirical Evidence from Inter-war International Cartels" Industrial and Corporate Change , Vol. 14, No. 5,
2005: 705-744.
"The Changing International Status of Export Cartel Exemptions" (with Margaret Levenstein), American
University International Law Review , Vol. 20, No. 3, 2005: 785-828.
"International Price-Fixing Cartels and Developing Countries: A Discussion of Effects and Policy
Remedies" (with Margaret Levenstein), Antitrust Law Journal , Vol. 71, No. 3, 2004: 801-852.
"International Cartel Enforcement: Lessons from the 1990s" (with Simon Evenett and Margaret Levenstein),
World Economy: Special Global Trade Policy Issue , Vol. 24, No. 9, September 2001: 1221-1245.
"Preconditions for Private Restraints on Market Access and International Cartels" (with Simon Evenett),
Journal of International Economic Law , Vol. 3, No. 4, December 2000: 593-631.
"Oligopoly Pricing with Capacity Constraints," with Timothy Bresnahan, Annales d'Economie et Statistique ,
Vol. 15/16, Juillet-Decembre 1989: 267-290.
"Short-run Supply with Capacity Constraints," with Timothy Bresnahan, Journal of Law and Economics ,
Vol. 32, No. 2 (Pt. 2), October 1989: S11-S42.
"Commitment and Monopoly Pricing in Durable Goods Models," International Journal of Industrial
Organization , Vol. 4, No. 4, December 1986: 451-460.
"Estimating Monopoly Behavior with Competitive Recycling: An Application to Alcoa," RAND Journal of
Economics , Vol. 17, No. 3, Autumn 1986: 389-403.
"Inventories as an Asset: The Volatility of Copper Prices," with Timothy Bresnahan, International
Economic Review , June 1985: 409-424.
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Book Chapters:
"Studies of Cartel Stability: A Comparison of Methodological Approaches" (with Margaret Levenstein), in
Peter Grossman, editor, How Cartels Endure and How They Fail: Studies of Industrial Collusion , United
Kingdom: Edward Elgar, 2004: 9-52.
Comment on "The Roles of Marketing, Product Quality, and Price Competition in the Growth and
Composition of the U.S. Anti-Ulcer Drug Industry, " by Berndt, Bui, Reiley, and Urban, in The Economics of
New Goods , T. Bresnahan and R. Gordon, eds., National Bureau of Economic Research, Studies in Income
and Wealth, Vol. 58, 1997: 322-328.
"Measuring Quality Change in Pharmaceutical Markets: Hedonic Price Indexes for Anti-Ulcer Drugs," in
Competitive Strategies in the Pharmaceutical Industry , R. Helms, ed., American Enterprise Institute,
Washington, D.C., 1996: 49-72.
Book Reviews:
Review of Antitrust and the Formation of the Postwar World , by Wyatt Wells (2002), Journal of Economic
History , Vol. 62, No. 4, December 2002: 1168-1170.
Review of Applied Industrial Organization: Towards a Theory-Based Empirical Industrial Organization , K.
Aiginger and J. Finsinger, eds. (1994), Journal of Economic Literature , Vol. 35, March 1997: 163-165.
Review of From Monopoly to Competition: The Transformations of Alcoa, 1888-1986 , by George D. Smith
(1988), Science Magazine , Vol. 244, May 19, 1989: 841-842.
Working Papers and Manuscripts:
"International Cartels: Prevalence and Policy Treatment in Different Epochs" (with Margaret Levenstein),
Issues in Competition Law and Policy , edited by Wayne Dale Collins (American Bar Association, Antitrust
Section), forthcoming 2007.
"Higher Prices from Entry: Pricing of Brand-Name Drugs" (with Jeff Perloff and Paul Seguin), August
2006.
"Determinants of International Cartel Duration and the Role of Cartel Organization" (with Margaret
Levenstein), April 2006.
International Cartels In Global Markets (with Simon Evenett and Margaret Levenstein), Cambridge
University Press, forthcoming.
"Cartels" (with Margaret Levenstein), entry in The New Palgrave Dictionary of Economics , 2
nd
ed. (Steven
Durlauf and Lawrence Blume, eds.), Palgrave Macmillan Ltd., forthcoming.
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Reports Prepared for Official Agencies:
"Private International Cartels and Their Effect on Developing Countries" (with Margaret Levenstein),
background paper for World Bank's World Development Report 2002 , January 2001.
"Assessment of Empirical Literature on Cartels and Market Access: An Economic Analysis" (with Simon
Evenett) commissioned by International Competition Policy Advisory Committee (Department of Justice,
Antitrust Division), October 1999.
"The Theory and Practice of Commodity Producers' Associations: With Special Reference to Coffee ( El
Negocio Cafetero Ante el Mercado Libre: Informe de la Comisi贸n Mixta para el Estudio del Caf茅,
Colombia) ," (with Mary Bohman, Lovell Jarvis, and Dan Sumner), commissioned by Comisi贸n Mixta,
March 1994.
Pedagogical Publications:
Invited lecture, "Entry Deterrence Strategies," contributed to inaugural issue of Journal of Industrial
Organization Education , published by the Berkeley Electronic Press, forthcoming 2006.
Microeconomics: Study Guide (with Jonathan Hamilton), Prentice Hall, 3rd ed. (1995), 4th ed. (1998), 5th ed.
(2000), 6th ed. (2005) accompanying Microeconomics , by Robert Pindyck and Daniel Rubinfeld.
Quantitative Skills Interactive - Multimedia CD-ROM Education Program (with Eugene Anderson, Paul
Seguin, and David Wright), published by Graduate Management Admission Council and Irwin/Mc-Graw
Hill, September 1997.
AWARDS AND HONORS
Distinguished Honorable Mention from the Jerry S. Cohen Award Selection Committee for outstanding
antitrust scholarship, June 2005, for the article (co-authored with Maggie Levenstein) "Contemporary
International Cartels and Developing Countries: Economic Effects and Implications for Competition Policy,"
Antitrust Law Journal , Vol. 71, No. 3, 2004: 801-852.
Victor L. Bernard Faculty Award for Leadership in Teaching, 2004.
John M. Olin National Fellowship, Hoover Institution, Stanford University, 1987-1988
Great Distinction in General Scholarship, Certificate of Distinction (finalist for University medal), UC
Berkeley, 1979
Highest Honors, Department of Economics, UC Berkeley, 1979
Phi Beta Kappa, 1978
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RESEARCH GRANTS
Export Cartel Exemptions and the Export Trading Act of 1982 , The International Development Research
Centre of Canada, December 2003 - April 2005 (with Margaret Levenstein). (Part of a larger project
"Promoting Competitive Markets in Developing Economies," Simon Evenett, principal investigator.)
Contemporary International Cartels , University of Michigan Business School (Larger Grant Research
Funds), December 2002 - June 2005.
Globalization and Competition: The Impact of International Cartels on Trade, Incomes, and Development ,
Center for International Business Education (Award for Faculty Research in International Business), 2003-
2005 (with Margaret Levenstein).
International Cartels in Integrating National Markets , Center for International Business Education, May -
September 2002 (with Margaret Levenstein).
Market Approaches to Environmental Issues in Transitional Economies from the Perspective of the Firm ,
Center for International Business Education, April - September 1998 (with Lynda Oswald).
Market Approaches to Environmental Issues in Transitional Economies from the Perspective of the Firm ,
William Davidson Institute, 1996-99 (with Lynda Oswald).
Product Differentiation and Competition in Pharmaceutical Markets , Warner-Lambert, Inc., 1990-1991.
International Cartel Stability , Office of Vice-President for Research, University of Michigan, 1987-1988.
PROFESSIONAL ACTIVITIES
Papers Delivered at Conferences:
"Determinants of International Cartel Duration and the Role of Cartel Organization" (with Margaret
Levenstein), International Industrial Organization Conference, Boston (MA), April 8, 2006.
"The Economic Impact of the U.S. Export Trading Company Act" (with Margaret Levenstein), Promoting
Competitive Markets in Developing Economies workshop, Buenos Aires, Argentina, March 5, 2005.
"International Cartels Then and Now" (with Margaret Levenstein) National Bureau of Economic Research,
Development of the American Economy, July 26, 2004.
"Contemporary International Cartels and Developing Countries: Economic Effects and Implications for
Competition Policy," Politecnico di Milano, Milan, Italy, May 11, 2004.
"Contemporary International Cartels and Developing Countries: Economic Effects and Implications for
Competition Policy," International Agricultural Trade Research Consortium, Annual General Meeting,
Theme Day: "Market Structure, Competition, and International Trade," San Antonio, December 2003.
"International Cartels Price-Fixing Cartels and Developing Countries: A Discussion of Effects and Policy
Remedies" (with Margaret Levenstein), International Industrial Organization Conference, Boston, April
2003.
"International Cartels in the 1990s: Implications for Theory and Policy," Southern Economic Association
conference, New Orleans, November 2002.
"International Cartels in the 1990s: Implications for Theory and Policy" (with Margaret Levenstein),
University of Massachusetts, Amherst, Economics Department, April 2002.
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Papers Delivered at Conferences (cont.) :
"International Cartels in the 1990s: Implications for Theory and Policy" (with Margaret Levenstein), Yale
School of Management, Micro/Strategy seminar, April 2002.
"International Cartels in a Global Economy," International Competition Policy Advisory Committee
roundtable hearings, November 1998.
"A Hedonic Pricing Analysis of Ulcer Drugs," American Enterprise Institute, conference on Competitive
Strategies in the Pharmaceutical Industry, October 1993.
"A Hedonic Pricing Analysis of Ulcer Drugs," American Economic Association meetings, January 1993.
"Cartel Contract Duration: Empirical Evidence from International Cartels," Cliometric Society Meetings
(within ASSA meetings), January 1992.
"Measuring Competition in Pharmaceutical Markets, " National Bureau of Economics Research, Summer
Institute 1991, Workshop on Topics in Industrial Organization, July 1991.
"Oligopoly Pricing with Capacity Constraints," Western Economic Association Meetings, July 1990.
"Oligopoly Pricing with Capacity Constraints," North American Winter Econometric Society Meetings,
December 1989.
Stability in International Cartels: An Empirical Survey," North American Winter Econometric Society
Meetings, December 1988.
"Dynamic Demand and Market Power Over the Business Cycle" (with Timothy Bresnahan), National Bureau
of Economic Research, Productivity Program Meeting, March 1987.
"Estimating Monopoly Behavior with Competitive Recycling," North American Winter Econometric Society
Meetings, December 1985.
Workshop Presentations:
Carleton University, Canada (Economics), Department of Justice (Antitrust Division), Federal Trade
Commission, Hoover Institution at Stanford University, London Business School (Economics), Northwestern
University (Economics), RAND Corporation, UC Berkeley (Agricultural and Resource Economics); UC
Davis (Business School), UCLA (School of Public Health), University of Chicago (Law and Economics
Workshop; Industrial Organization Workshop), University of Illinois (Economics), University of Michigan
(Ross School of Business), University of Toronto (Economics), Stanford University (Economics),
Washington University (Economics)
Referee for:
American Economic Review, Antitrust Law Journal, Canadian Journal of Economics, Contemporary Policy
Issues, Economic Inquiry, International Economic Review, International Journal of Industrial Organization,
Journal of Applied Economics, Journal of Economic Behavior & Organization, Journal of Economics and
Business, Journal of Economics and Management Strategy, Journal of Environmental Economics and
Management, Journal of Industrial Economics, Journal of Law and Economics, Journal of Political
Economy, National Science Foundation, RAND Journal of Economics , Review of Economics and Statistics ,
Review of Industrial Organization, Southern Economic Journal
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External Activities:
Expert: International price-fixing investigation, chemicals industry (July - August 2005).
Consultant: International price-fixing investigation, paper industry (December 2003 - March 2005).
Consultant: European merger investigation, music industry (March - April 2004).
Consultant: International price-fixing investigation, vitamins industry (February - September 2002).
Consultant: Australian price-fixing investigation, cement industry (March - June 2001).
Expert: U.S. Department of Justice, Antitrust Division, aluminum mergers investigation (1999-2000).
Peer reviewer for United States Department of Agriculture investigation of fed-cattle procurement (February-
May, 1999).
Expert: Exclusionary tactics investigation, waste management industry (1992-1993)
TEACHING
Degree Courses Taught :
Undergraduate: Applied Microeconomics (1984-86; core course coordinator 1984-86)
Industrial Organization (1984)
Business and Government (1984-85; course coordinator 1984-85)
MBA:
Applied Microeconomics (1986, 1988-2001, 2003-4; core course coordinator 1988, 1991,
1993-94, 1997-98, 2003-4)
Competitive Tactics (1990, 1992, 1996, 2001, 2003, 2005)
Competitive Tactics & Competition Policy (2004)
Microeconomics: International MBA Program, Politecnico di Milano, Italy (5 modules in
May 2004, 3 modules in April 2005)
Prices & Markets: MBA Program, INSEAD, France (January-February 2000)
Applied Microeconomics, Global MBA Program (Hong Kong, 1996)
Executive MBA: Economics of Business (2001 - present)
PhD:
International Cartels in a Global Market (2005)
Non-Degree Courses & Workshops Taught :
MBA
Quantitative Skills Workshop, MBA Program, 1994-2005
Quantitative Skills Workshop, Executive MBA Program, 2001-present
Executive Education
AT Kearney MBA Essentials Program , 2000-2004
Public Utility Executive Program, July 1993
Financial Engineering Program Applied Microeconomics, 2006
University of Michigan
"The First Day of Class," New Faculty Orientation, 1992-1995
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SERVICE AND COMMITTEES
University Committees :
President's Task Force on Purchasing Ethics and Policies (May 2003 - April 2004)
Rackham Graduate School, Divisional Board for Social Sciences and Education, Rackham Faculty Grant and
Fellowship Program, 1993-1994 (chair in 1994).
Business School Committees:
Admissions and Career Development Advisory Committee, 1998-2001
Classroom Design Subcommittee, 2005-present
Curriculum & Teaching Committee, 1995 - 2005
Executive MBA Advisory Committee, 2001-present
Executive MBA Feasibility Study Committee, 1999-2000
Grievance Board Panel, 2005-2006
MBA Review Team (later the Professional Degree Program Review Committee), 1992-93, 1995-2001
Part-Time Programs Development Group, 2005-2006
Part-Time Programs Task Force, 2004-2005
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