Distinguished Fellow Award

Kenneth Hendricks, University of Wisconsin

Prof. Kenneth Hendricks is Laurits R. Christensen Distinguished Chair in Economics, University of Wisconsin-Madison. Prof. Hendricks's contributions to the field of industrial organization are numerous and deep. He is particularly known for his important work developing and estimating models of bidding behavior in auctions. His work addresses many practical challenges that arise in using auctions as an allocation mechanism such as detecting collusion among auction participants, strategic bidding in common value first price auctions where some bidders have potentially superior information, or joint bidding by auction participants. In addition to his work on auctions, Prof. Hendricks's theoretical and empirical work studies such diverse topics as the demand for music and the role of informational externalities in investment decisions.  His work contributes to our understanding of hub and spoke networks, characterizing markets in which air carriers choose both routes and prices in monopoly and competitive settings.

Prof. Hendricks has taught and mentored many students and junior faculty. His engagement with colleagues has contributed to the lasting industrial organization excellence of each economics department where he has been a faculty member. Anyone who has ever talked to Prof. Hendricks about a research paper knows that the intensity of his attention and advice is unmatched. In addition to his distinguished research record, Professor Hendricks has provided substantial service to the economics profession in general and the Industrial Organization Society in particular, serving as President of the IOS from 2018 to 2019.