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

operations research Operations research () (U.S. Air Force Specialty Code: Operations Analysis), often shortened to the initialism OR, is a branch of applied mathematics that deals with the development and application of analytical methods to improve management and ...

, 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. in

industrial engineering Industrial engineering (IE) is concerned with the design, improvement and installation of integrated systems of people, materials, information, equipment and energy. It draws upon specialized knowledge and skill in the mathematical, physical, an ...

from

Lehigh University Lehigh University (LU), in Bethlehem, Pennsylvania, United States, is a private university, private research university. The university was established in 1865 by businessman Asa Packer. Lehigh University's undergraduate programs have been mixed ...

(1966), a

M.S. A Master of Science (; abbreviated MS, M.S., MSc, M.Sc., SM, S.M., ScM or Sc.M.) is a master's degree. In contrast to the Master of Arts degree, the Master of Science degree is typically granted for studies in sciences, engineering and medicine ...

from

Stanford University Leland Stanford Junior University, commonly referred to as Stanford University, is a Private university, private research university in Stanford, California, United States. It was founded in 1885 by railroad magnate Leland Stanford (the eighth ...

(1967), and a Ph.D. in

(1970) also from

. He then worked at the same place, in the

Stanford Graduate School of Business The Stanford Graduate School of Business is the Postgraduate education, graduate business school of Stanford University, a Private university, private research university in Stanford, California. For several years it has been the most selective ...

, 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, Canada, Japan, and South Korea. Overview This position is generally taken after earning a doct ...

, 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''. In the ''North American system'', used in the United States and many other countries, it is a position ...

(1973) and full

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

(1978). He is currently the ''Adams Distinguished Professor of Management'' at

. His research focused on stochastic modelling for

business Business is the practice of making one's living or making money by producing or Trade, buying and selling Product (business), products (such as goods and Service (economics), services). It is also "any activity or enterprise entered into for ...

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

logistics Logistics is the part of supply chain management that deals with the efficient forward and reverse flow of goods, services, and related information from the point of origin to the Consumption (economics), point of consumption according to the ...

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, and variable pricing, is a revenue management pricing strategy in which businesses set flexible prices for products or services based on current market de ...

and

revenue management Revenue management (RM) is a discipline to maximize profit by optimizing rate (ADR) and occupancy (Occ). In its day to day application the maximization of Revenue per Available Room (RevPAR) is paramount. It is seen by some as synonymous with ...

. In 2008, Harrison was elected a member of the

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

for fundamental contributions to stochastic networks and financial engineering.

Awards

electee (2008). * 2005 class of

Fellow A fellow is a title and form of address for distinguished, learned, or skilled individuals in academia, medicine, research, and industry. The exact meaning of the term differs in each field. In learned society, learned or professional society, p ...

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 Operations research () (U.S. Air Force Specialty Code: Operations Analysis), often s ...

. *

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 opera ...

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 Engli ...

(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 Operations research () (U.S. Air Force Specialty Code: Operations Analysis), often s ...

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