203.432.6160

James L. Frank Professor of Accounting, Economics, and Finance

Professor Shyam Sunder is a world-renowned experimental economist and accounting theorist. His research contributions include financial reporting, dissemination of information in security markets, statistical theory of valuation, and design of electronic markets. He is a pioneer in the fields of experimental finance and experimental macroeconomics. He has published five books and more than 140 articles in leading journals of accounting, economics, and finance, as well as in popular media. Before joining Yale SOM in 1999, he taught at Carnegie Mellon (Richard M. Cyert Professor of Management & Economics), the University of Minnesota (Honeywell Professor of Accounting), and the University of Chicago.

Achievements and Awards
President, American Accounting Association, 2006-2007
Distinguished Lecturer, Center for Computational Finance and Economic Agents, University of Essex, UK.
Distinguished International Visiting Lecturer, American Accounting Association, 2000
Presidential Research Lecturer, American Accounting Association, 1999
Notable Contributions to Accounting Literature Award, American Institute of CPA's and American Accounting Association, 1982 and 1998
Chair, Faculty Organization and Senate, Carnegie Mellon University, 1997-98
Director of Research, American Accounting Association, 1988-90
Member, Founding Executive Committee, Economic Science Association
Alpha Kappa Psi Foundation National Accounting Award, 1982
Manuscript Award, American Accounting Association, 1975

Sponsored Research
National Science Foundation
International Business Machines
Intel
Microsoft

Boards
Academy for Government Accountability, 2006-
American Accounting Association, 2005-
International Association for Accounting, Education, and Research, 2006-2007
World Computer Exchange, 2000-
GMex, Inc., 1999-2001
Carnegie Mellon University Board of Trustees, 1997-98
Financial Executives Institute, Pittsburgh Chapter, 1995-99
Economic Science Association

Editorships
Editorial Board:
Journal of Accounting and Public Policy
Experimental Economics
Indian Accounting Review
Computational & Mathematical Organization Theory

Selected Books
Japanese Style of Business Accounting (with H. Yamaji, ed.), Greenwood Press, 2000

Japan: Why It Works, Why It Doesn't (with J. Mak, S. Abe and K. Igawa, eds.), University of Hawaii Press, 1998

Theory of Accounting and Control, Thomson, 1997

Kigyou Kaikei no Keizaigakuteka Bunseke (in Japanese, Economic Analysis of Business Accounting), Chyuou Keizaisya, 1996

Experimental Methods: A Primer for Economists (with D. Friedman), Cambridge, 1994

Selected Book Chapters
"Economizing Principle in Accounting Research" (with R. Antle, P.J. Liang, F. Gjesdal, eds.) Essays in Accounting Theory in Honour of Joel S. Demski, Springer, 2007

"Comments on Romila Thapar's 'Is Secularism Alien to Indian Civilization?'" in T. N. Srinivasan, ed. The Future of Secularism, Oxford University Press, 2007

Selected Articles
"Price Bubbles Sans Dividend Anchors: Evidence from Laboratory Stock Markets" (with S. Hirota), Journal of Economic Dynamics and Control, Vol. 31, No. 6, 1875-1909, June, 2007

"Uniform Financial Reporting Standards: Reconsidering the Top-Down Push" The CPA Journal, March, 2007

"Economic Theory: Structural Abstraction or Behavioral Reduction" History of Political Economy, Vol. 38, Annual Supplement 1, 322-342, 2006

"Regulation and the Marketplace" (with K. Jamal and M. Maier), Regulation, Vol. 26 No. 4, Winter 2003-2004

"Markets as Artifacts: Aggregate Efficiency from Zero-Intelligence Traders" (with M.E. Augier and J.G. March), Models of a Man: Essays in Memory of Herbert A. Simon, Cambridge, MA: MIT Press, 2004

"Double Auction Dynamics: Structural Effects of Non-Binding Price Controls" (with D. K. Gode), Journal of Economic Dynamics and Control, 28:9, 2004

"Rethinking the Structure of Accounting and Auditing," Indian Accounting Review, Vol. 7 No.1, 2003

"Are Unmanaged Earnings Always Better for Shareholders?" (with A. Arya and J. Glover), Accounting Horizons, Vol. 17, Supplement 2003

"Privacy in E-Commerce: Development of Reporting Standards, Disclosure and Assurance Services in an Unregulated Market" (with K. Jamal and M. Maier) Journal of Accounting Research, Vol. 41, No. 2, 2003

"Markets for attention: Will postage for email help?" (with R.E. Kraut, J. Morris, R. Telang, D. Filer, and M. Cronin), Proceedings of the 2002 ACM Conference on Computer Supported Cooperative Work, New Orleans, LA. New York, NY: ACM Press

"Knowing What Others Know: Common Knowledge, Accounting and Capital Markets," Accounting Horizons, Vol. 16 No. 4, 2002

"Regulatory Competition among Accounting Standards within and across International Boundaries," Journal of Accounting and Public Policy, 2002

"Why Not Allow the FASB and IASB Standards to Compete in the U.S.?" (with R. Dye), Accounting Horizons, Vol. 15, No. 3, 257-71, September 2001

"Using Experimental Data to Model Bargaining Behavior in Ultimatum Games" (with H. Lin), April 2001

"Tracking the Invisible Hand: Convergence of Double Auctions to Competitive Equilibrium" (with A. D. Bosch), Computational Economics, 2000

"Earnings Management and the Revelation Principle" (with J. Glover and A. Arya), Review of Accounting Studies, 1998

"The Japanese Economy in U.S. Eyes: From Model to Lesson," Education About Asia, 1998

"Accounting and the Firm: A Contract Theory," Indian Accounting Review, 1997

"What Makes Markets Allocationally Efficient?," Quarterly Journal of Economics, 1997

"Security Markets and Accounting Standards: Lessons from Research," The Chinese Accounting Review, 1997

"Ideas and Work of Richard M. Cyert" (with R.H. Day), Journal of Economic Behavior and Organization, 1996

"Bayesian Equilibrium in Double Auctions Populated by Biased Heuristic Traders," Journal of Economic Behavior and Organization, 1996

Working Papers
"Regulation, Competition and Independence in a Certification Society: Certification of Financial Reports vs. Baseball Cards" (with K. Jamal) 

"Econometrics of Fair Values"

"Everyone-a-Banker or the Ideal Credit Acceptance Game: Theory and Experimental Evidence" (with J. Huber and M. Shubik)

"Risky Curves: From Unobservable Utility to Observable Opportunity Sets" (with D. Friedman)

"Pricing Electronic Mail to Solve the Problem of Spam" (with R.E. Kraut, R. Telang, and J. Morris)

"A Simple Institution for Learning Competitive Equilibrium" (with S. Crockett and S. Spear)

"Convergence of Double Auctions to Pareto Optimal Allocations in Edgeworth Box" (with D.K. Gode and S. Spear)

"Value of the Firm: Who Gets the Goodies?"

Education
PhD Carnegie Mellon University, 1974
MS Carnegie Mellon University (Industrial Administration), 1972