Stephen Rassenti

Director, Economic Science Institute and Professor of Economics and Mathematics at Chapman University

Stephen Rassenti is Director of the Economic Science Institute at Chapman University and a Professor of Economics and Mathematics. Dr. Rassenti is known for innovations in the use of computational algorithms in complex auction environments.  His 1982 dissertation examined how to auction airport takeoff and landing slots nationwide while simultaneously observing the complicated logistic constraints of both the airports and the airlines. In conjunction with Dr. Vernon Smith he did pioneering work in the design and implementation of wholesale markets for electric power generation that influenced various implementations of such markets in Australia, New Zealand and stateside. Dr. Rassenti has been the principal investigator on numerous grants sponsored by various public (EPA, EIA, EPRI, FERC, ACC, FCC, Australian NGMC, Singapore GMA, VADEQ, US Navy) and private (MISO, Verizon, First Energy) organizations to investigate fair and efficient systems to allocate scarce resources. He has also consulted broadly. He is currently refocusing his research interests toward the social dynamics affecting individual health care decisions during the life course. He holds a Ph.D. in Systems Engineering from the University of Arizona, after which he worked at Bell Laboratories modeling digital communication systems before returning to academia.