Tom Gilligan

Senior Visiting Scholar
Bio & Writings CV/Resume

Tom Gilligan is a Clinical Professor of Finance in the McCombs School of Business and a Senior Scholar in the Salem Center at the University of Texas. His previous appointments include Director and Senior Fellow at the Hoover Institution on War, Revolution, and Peace (Stanford University) and Dean of the McCombs School of Business (University of Texas). He also served various professorial and administrative roles at the Marshall School of Business (University of Southern California) and as a staff economist in the Council of Economic Advisers (Office of the President, the White House). His fields of academic expertise include economics and the politics of regulation. He currently serves on the board of directors of KB Home (NYSE:KBH) and Southwest Airlines (NYSE:LUV).


McCombs School of Business, University of Texas

Clinical Professor of Finance and Senior Scholar, Salem Center
September 2021 – present

Hoover Institution, Stanford University

Senior Fellow September, 2020 – September 2021
Tad and Dianne Taube Director, September 2015 – September, 2020

McCombs School of Business, University of Texas

Dean, Centennial Chair in Business Education Leadership, and Professor of
Finance, September 2008 – September 2015

Marshall School of Business, University of Southern California

E. Morgan Stanley Chair in Business Administration and Professor of Finance and Business Economics, February 2006 – September 2008
Interim Dean and Robert R. Dockson Deans Chair in Business Administration, February 2006 – April 2007
Vice Dean for Undergraduate and Doctoral Education, July 2004 – February 2006
Chair, Department of Finance and Business Economics, June 2000 – June 2003
Assistant, Associate, and Full Professor of Finance and Business Economics, June 1987 –September 2008. Taught a variety of courses at the undergraduate, MBA, and Ph.D. levels, including Managerial Economics, Economic Analysis for Business Decision-Making, Business and Government, Economics of Pricing, Compensation, and Control, and Business and Its Non-market Environment. Participated in research seminars in the Department of Finance and Business Economics and the School of Law.

J.L. Kellogg School of Management, Northwestern University

Visiting Professor of Management and Strategy. Taught an MBA level course entitled Business and Its Non-market Environment. Participated in research seminars in the Strategy Department. June 1995 – June 1996

Graduate School of Business, Stanford University

Visiting Professor of Business Economics. Taught multiple sections of an MBA level course entitled Business and Its Non-market Environment and a Ph.D. level course on political economy. June 1989 – June 1990 as well as the Spring Quarter 1994

California Institute of Technology

Assistant Professor of Economics. Taught undergraduate and Ph.D. level courses in economics and political economy. Participated in departmental research seminars. June 1984 – June 1987

Council of Economic Advisers, The White House

Staff Economist. Aided in the economic analysis of contemporary policy
issues for White House Staff. Helped in the preparation of the Economic
Report of the President, 1983. July 1982 – July 1983

Military Service

United States Air Force, June 1972 – June 1976. AFSC 203xx, Russian Linguist


University of Oklahoma. B.A. (with honors). August 1976 – August 1979
Washington University in St. Louis. Ph.D. August 1979 – August 1984

Fellowships and Honors

Cortez E.M. Ewing Congressional Fellowship, Summer, 1978
Honors Washington University Graduate Fellowship, Academic Year 1979 -1980
Clifford Hardin Doctoral Fellowship, Academic Year 1983 -1984
Hoover Institution National Fellowship, Academic Year 1989 – 1990
Award for the Best Article in Economic Inquiry, 1993
Marshall MBA Core Program Golden Apple Teaching Award, 2000
USC Parents Association Teaching and Mentoring Award Nominee, 2006
USC Marshall Dean’s Award for Community, 2007

Editorial Duties

Co-Editor, Journal of Law, Economics, and Organization (2001 – 2006), Business and Politics (1999 – 2007), Journal of Economics and Management Strategy (1998 – 2005), and Asia-Pacific Journal of Accounting and Economics (1996-2007). Referee for over two dozen other journals

Areas of Interest

Microeconomics, applied price theory, industrial organization, antitrust economics, public choice and policy, non-market environment of business

Personal Info

DOB August 21, 1954. Married 1979, three children. Enjoy golf, general aviation, and recreational boating.

Refereed Articles

“Public Choice Principles of Redistricting,” (with John Matsusaka) December 2006, Public Choice.

“Lemons and Leases in the Used Business Aircraft Market,” October 2004, Journal of Political Economy.

“Fiscal Policy, Legislature Size, and Political Parties: Evidence from State and Local Governments in the First Half of the 20th Century,” (with John Matsusaka) March 2001, National Tax Journal.

“Saints and Markets: Activists and the Supply of Credence Goods,” (with Tim Feddersen) Spring 2001, Journal of Economics and Management Strategy.

“Structural Constraints on Bias Under the Efficient Partisan Gerrymander,” (with John Matsusaka), July 1999, Public Choice.

“Statistical Causality and Strategic Behavior in Industrial Markets,” (with Subrata Sarkar) June 1998, Journal of Economics and Management Strategy.

“Specialization Decisions within Committee,” (with Keith Krehbiel) Spring 1997, Journal of Law, Economics, and Organization.

“Systematic Deviations from Constituency Interests: The Role of Legislative Structure and Political Parties in the States,” (with John Matsusaka), July 1995, Economic Inquiry.

“Slicing the Federal Net Spending Pie: Who Wins, Who Loses, and Why?” (with Cary Atlas, R.J. Hendershott, and Mark Zupan) June 1995, American Economic Review.

“The Gains-from-Exchange Hypothesis of Legislative Organization,” (with Keith Krehbiel) August 1994, Legislative Studies Quarterly.

“Imperfect Competition and Basing-Point Pricing,” June 1993, Economic Inquiry. (Selected as the Best Article in Volume XXXI).

“Information and the Allocation of Legislative Authority,” March 1991, Journal of Institutional and Theoretical Economics.

“Imperfect Competition and Basing-Point Pricing: Evidence from the Softwood Plywood Industry,” December 1992, American Economic Review.

“Performance of an Institutionalized Legislature,” September 1991, Political Analysis.

“The Economic Incidence of the Interstate Commerce Act of 1887: A Theoretical and Empirical Analysis of the Shorthaul Pricing Constraint,” (with William Marshall and Barry Weingast) Summer 1990, Rand Journal of Economics.

“The Organization of Informative Committees by a Rational Legislature,” (with Keith Krehbiel) October 1990, American Journal of Political Science.

“Asymmetric Information and Legislative Rules with Heterogeneous Committees,” (with Keith Krehbiel) May 1989, Journal of Political Science.

“Regulation and the Theory of Legislative Choice: The Interstate Commerce Act of 1887,” (with William Marshall and Barry Weingast) April 1989, Journal of Law and Economics.

“Complex Rules and Congressional Outcomes: An Event Study of Energy Tax Legislation,” August 1988, Journal of Politics.

“Collective Decision-Making and Standing Committees: An Information Rationale for Restrictive Amendment Procedures,” (with Keith Krehbiel) August 1987, Journal of Law, Economics, and Organization.

“Tobin’s Q and the Structure-Performance Relationship: A Reply,” (with William Marshall and Michael Smirlock) December 1986, American Economic Review.

“The Competitive Effects of Resale Price Maintenance,” Winter 1986, Rand Journal of Economics.

“Tobin’s Q and the Structure-Performance Relationship,” (with William Marshall and Michael Smirlock) December 1984, American Economic Review.

“Scale and Scope Economies in the Multiproduct Banking Firm,” (with William Marshall and Michael Smirlock) August 1984, Journal of Monetary Economics.

“An Empirical Study of Joint Production and Scale Economies in Commercial Banking,” (with William Marshall and Michael Smirlock) June 1984, Journal of Banking and Finance.

“Predation and Cross-Subsidization in the Value-Maximizing Multiproduct Firm,” (with Michael Smirlock) July 1983, Southern Economic Journal.

“Customs Unions with Nontraded Goods in Interconnected Markets: A Geometrical Analysis,” (with Eden Yu) March 1983, Keio Economic Studies.

Other Publications

Review of The Food Manufacturing Industries by John M. Connor, et. al., July 1985, Southern Economic Journal.

Review of Who Profits: Winners, Losers, and Government Regulation by Robert Leone, December 1987, Journal of Economic Literature.

“Collective Choice without Procedural Commitment,” (with Keith Krehbiel) 1989, in Models of Collective Choice in Politics edited by Peter Ordeshook. Ann Arbor, Michigan University Press.

Microeconomic Cases and Applications (with Anthony Marino and Mark Zupan) 1992, New York, Harper Collins.

Review of Signaling Games in Political Science by Jeffrey S. Banks, May 1993, Public Choice.

“Industrial Concentration,” 1993, in Fortune’s Encyclopedia of Economics edited by David R. Henderson. New York, Warner Books.

Review of Elections and Trust by William Bianco, September 1995, American Political Science Review.

“Monopoly and Antitrust,” 1998, in The Handbook of Technology and Management edited by Richard Dorf. Boca Rotan, CRC Press, Inc.

“Oakmont Country Club,” July 1999, a teaching case published by South-Western College Publishing, ISBN 0-324-03152-1.

“Money and Politics in the Contemporary Congress,” August 2000, Business and Politics.

Review of Antitrust Law: Economic Theory and Common Law Evolution by Keith N. Hylton, 2005, Journal of Economic Literature.

Edited American Exceptionalism in a New Era, June 2018, Hoover Institution Press.

“Google’s Monopoly, and the Case Against It, Looks Surprisingly Like Stanford Oil’s,” October 2020, The Daily Caller.