John Michael Harrison (born 1944) is an American researcher, known for his contributions to the theory of

operations research Operations research ( en-GB, operational research) (U.S. Air Force Specialty Code: Operations Analysis), often shortened to the initialism OR, is a discipline that deals with the development and application of analytical methods to improve dec ...

, in particular stochastic networks and

financial engineering Financial engineering is a multidisciplinary field involving financial theory, methods of engineering, tools of mathematics and the practice of programming. It has also been defined as the application of technical methods, especially from mathe ...

. He has authored two books and nearly 90 journal articles. He obtained a

B.S. A Bachelor of Science (BS, BSc, SB, or ScB; from the Latin ') is a bachelor's degree awarded for programs that generally last three to five years. The first university to admit a student to the degree of Bachelor of Science was the University of ...

industrial engineering Industrial engineering is an engineering profession that is concerned with the optimization of complex processes, systems, or organizations by developing, improving and implementing integrated systems of people, money, knowledge, information an ...

from

Lehigh University Lehigh University (LU) is a private research university in Bethlehem, Pennsylvania in the Lehigh Valley region of eastern Pennsylvania. The university was established in 1865 by businessman Asa Packer and was originally affiliated with the Ep ...

(1966), a

M.S. A Master of Science ( la, Magisterii Scientiae; abbreviated MS, M.S., MSc, M.Sc., SM, S.M., ScM or Sc.M.) is a master's degree in the field of science awarded by universities in many countries or a person holding such a degree. In contrast to ...

from Stanford University (1967), and a

Ph.D. A Doctor of Philosophy (PhD, Ph.D., or DPhil; Latin: or ') is the most common degree at the highest academic level awarded following a course of study. PhDs are awarded for programs across the whole breadth of academic fields. Because it is a ...

(1970) also from Stanford University. He then worked at the same place, in the

Stanford Graduate School of Business The Stanford Graduate School of Business (also known as Stanford GSB) is the Postgraduate education, graduate business school of Stanford University, a Private university, private research university in Stanford, California. For several years it ...

, as

assistant professor Assistant Professor is an academic rank just below the rank of an associate professor used in universities or colleges, mainly in the United States and Canada. Overview This position is generally taken after earning a doctoral degree and gene ...

, promoted to

associate professor Associate professor is an academic title with two principal meanings: in the North American system and that of the ''Commonwealth system''. Overview In the '' North American system'', used in the United States and many other countries, it is ...

(1973) and full

professor Professor (commonly abbreviated as Prof.) is an academic rank at universities and other post-secondary education and research institutions in most countries. Literally, ''professor'' derives from Latin as a "person who professes". Professor ...

(1978). He is currently the ''Adams Distinguished Professor of Management'' at Stanford University. His research focused on

stochastic modelling :''This page is concerned with the stochastic modelling as applied to the insurance industry. For other stochastic modelling applications, please see Monte Carlo method and Stochastic asset models. For mathematical definition, please see Stochast ...

for business and led to influential results in option theory (with David M. Kreps, 1980). Later he studied Brownian network models for

logistics Logistics is generally the detailed organization and implementation of a complex operation. In a general business sense, logistics manages the flow of goods between the point of origin and the point of consumption to meet the requirements of ...

and models for optimizing telephone call centers. More recently he has studied

dynamic pricing Dynamic pricing, also referred to as surge pricing, demand pricing, or time-based pricing, is a pricing strategy in which businesses set flexible prices for products or services based on current market demands. Businesses are able to change pri ...

and

revenue management Revenue management is the application of disciplined analytics that predict consumer behaviour at the micro-market levels and optimize product availability, leveraging price elasticity to maximize revenue growth and thereby, profit. The primar ...

. In 2008, Harrison was elected a member of the

National Academy of Engineering The National Academy of Engineering (NAE) is an American nonprofit, non-governmental organization. The National Academy of Engineering is part of the National Academies of Sciences, Engineering, and Medicine, along with the National Academy of ...

for fundamental contributions to stochastic networks and financial engineering.

Awards

electee (2008). * 2005 class of

Fellow A fellow is a concept whose exact meaning depends on context. In learned or professional societies, it refers to a privileged member who is specially elected in recognition of their work and achievements. Within the context of higher education ...

s of the

Institute for Operations Research and the Management Sciences The Institute for Operations Research and the Management Sciences (INFORMS) is an international society for practitioners in the fields of operations research (O.R.), management science, and analytics. It was established in 1995 with the merger of ...

. *

John von Neumann Theory Prize The John von Neumann Theory Prize of the Institute for Operations Research and the Management Sciences (INFORMS) is awarded annually to an individual (or sometimes a group) who has made fundamental and sustained contributions to theory in operati ...

2004 *

Frederick W. Lanchester Prize The Frederick W. Lanchester Prize is an Institute for Operations Research and the Management Sciences prize (U.S. $5,000 cash prize and medallion) given for the best contribution to operations research and the management sciences published in Engl ...

(best research publication) 2001 *

INFORMS The Institute for Operations Research and the Management Sciences (INFORMS) is an international society for practitioners in the fields of operations research (O.R.), management science, and analytics. It was established in 1995 with the merger of ...

Expository Writing Award 1998

Selected publications

* ''A Method for Staffing Large Call Centers'', Mfg. & Service Operations Mgt., 2005 * ''A Broader View of Brownian Networks'': Annals of Applied Probability, 2003 * ''Brownian Motion and Stochastic Flow Systems'', Wiley and Sons, 1985 * ''Martingales and Stochastic Integrals in the Theory of Trading'' Stochastic Processes, 1981 * ''Martingales and Arbitrage in Multiperiod Securities Markets'' Journal of Economic Theory, 1979

References

External links

Biography of J. Michael Harrison
from the Institute for Operations Research and the Management Sciences {{DEFAULTSORT:Harrison, J. Michael Lehigh University alumni Stanford University alumni American operations researchers Stanford University Graduate School of Business faculty Fellows of the Institute for Operations Research and the Management Sciences Members of the United States National Academy of Engineering John von Neumann Theory Prize winners Living people 1944 births