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Most importantly, he gave them a North Star to look up to and live by.įamily was Bobby’s greatest passion and highest priority, followed by his economics work, bridge, mathematics, pinball, pens, poker, and giraffes. Together, Bobby and Ginny created four children and raised two nephews who collectively produced 11 children, all of whom received Bobby’s powerful wisdom, guidance, genetics, and unconditional love and support. Princeton University estimates that over 1,200 of the world’s leading policymakers owe their microeconomic training to Professor Bobby Willig.īut Bobby considered his greatest accomplishment to be the product of his collaboration with Ginny Mason, his loving wife of 49 years. He taught microeconomics in the economic department’s large 101 introductory course, and a popular mid-level course on industrial organization, but his most impactful teaching was to generations of Masters of Public Affairs students. He was also elected a Fellow of the Econometric Society just eight years after his Ph.D.Īt Princeton University, Bobby brought his real-world experience and contagious passion to undergraduate and graduate classrooms for over four decades.
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He was a co-editor of both The Handbook of Industrial Organization and Can Privatization Deliver?: Infrastructure for Latin America and Second Generation Reforms in Infrastructure Services, and served on the editorial boards of the American Economic Review, the Journal of Industrial Economics, and the MIT Press Series on Regulation. His influential paper “Consumer’s Surplus without Apology” opened the door for the welfare analysis of imperfectly competitive markets.
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This idea of “contestable” markets has had a lasting impact on the field and the analysis remains unsurpassed to this day.īobby is also the author of the book Welfare Analysis of Policies Affecting Prices and Products, and he wrote over 80 articles in professional economics and law literatures. His most cited work is his seminal 1982 book, Contestable Markets and the Theory of Industry Structure with William Baumol and John Panzar. He was qualified by numerous courts, regulatory bodies, and arbitrators as an expert witness in the fields of microeconomics and industrial organization and their areas of application such as competition policy, pricing, costing, valuation, intellectual property, and contractual relations. After leaving the Department of Justice, he continued his public service by advising state, federal, and international agencies on welfare-enhancing economic regulation. Bobby’s influence forever put economic analysis at the center of merger matters for the US Government. In that role, he was critical to the development of the DoJ/FTC Horizontal Merger Guidelines, which define how the antitrust authorities of the federal government analyze mergers.
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Over his long and distinguished career, Bobby has been the influencer or driver of many of the most important regulatory and antitrust events of the past 50 years.įrom 1989 to 1991, Bobby served as the Deputy Assistant Attorney General for Economics in the Antitrust Division of the United States Department of Justice. Along with partners Janusz Ordover, Jon Orszag, and Meg Guerin-Calvert, he founded Compass Lexecon, the largest economic consulting firm in the world.
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Bobby’s research and teaching specialized in the fields of industrial organization, regulation, antitrust, and welfare theory.īobby consulted for the Federal Trade Commission, the Organization for Economic Cooperation and Development, the Inter-American Development Bank, the World Bank, diverse national governments, and numerous private clients. He taught for 43 years at the School of Public and International Affairs and the Economics Department at Princeton University, and served as the Faculty Chair of the Master’s Program in Public Affairs.
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After just five years, he was recruited to join the faculty of Princeton University as a full professor. He began his career at Bell Labs in Princeton, becoming Supervisor in the prestigious Economics Research group. in Economics and an M.S in Operations Research from Stanford University, and an A.B. Department of Justice, passed away on Octoin Ewing, NJ.īobby was born in Brooklyn, NY, and received his Ph.D. Robert (Bobby) Willig, Professor Emeritus of Economics and Public Affairs at Princeton University, and former Deputy Assistant Attorney General for Economics of the U.S.
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