Kathryn Graddy

Professor of economics

Kathryn Graddy
Alma materPrinceton University 22
Columbia University
Tulane University
Scientific career
InstitutionsBrandeis University
ThesisWho pays more? Essays on bargaining and price discrimination. (1994)
Doctoral advisorOrley Ashenfelter

Kathryn Graddy is a professor of economics and the dean of Brandeis International Business School at Brandeis University. She is the Fred and Rita Richman Distinguished Professor in Economics at Brandeis University. Her research interests include the economics of art, culture, and industrial organization.


Graddy received a BS in mathematics and a BA in Russian language from Tulane University, an MBA from Columbia University, and a PhD in economics from Princeton University. Prior to her position at the University of Oxford, she was appointed as an assistant professor of economics at the London Business School. Afterwards, she was a research fellow at Jesus College and then at Exeter College.[1]

After leaving Oxford, Graddy joined Brandeis University in 2007.[1] She chaired the university's department of economics from 2011 to 2014 and directed the PhD program at Brandeis International Business School (IBS) from 2015 to 2016.[2] In 2013, she was made the Fred and Rita Richman Distinguished Professor in Economics.[3] She was named senior associate dean of IBS in 2016, a position she held until she became dean in 2018.[1]


Graddy discusses competition at the Fulton Fish Market with the CORE Project

Graddy's research interests include the economics of art, culture, and industrial organization.[4] She has been widely quoted in the media as an expert on art auctions and investment in art.[5][6][7]

As a graduate student, Graddy spent a month shadowing a trader at the Fulton Fish Market to analyze competition within fish markets. In her 1995 study, she described how the traders appeared to charge different prices to different ethnic groups, and perfect competition at the market was not apparent.[8][9]

In a 2017 paper co-authored with Princeton University economist Carl Lieberman, the two economists concluded that "artists, in the year following the death of a friend or relative, are on average less creative than at other times of their lives." The results were based on an analysis of thirty-three French Impressionist painters and fifteen American artists born between 1910 and 1920.[10][11] The results, which were featured in the popular press, followed an earlier working paper by Graddy that found that visual artists' creative output suffered during periods of bereavement.[12][13][14]

Selected publications

  • Ashenfelter, Orley; Graddy, Kathryn (September 2003). "Auctions and the Price of Art". Journal of Economic Literature. 41 (3): 763–786. doi:10.1257/002205103322436188.
  • Joshua D. Angrist; Kathryn Graddy; Guido W. Imbens (July 2000). "The Interpretation of Instrumental Variables Estimators in Simultaneous Equations Models with an Application to the Demand for Fish". The Review of Economic Studies. 67 (3): 499–527. doi:10.1111/1467-937X.00141. ISSN 0034-6527. Wikidata Q108879150.
  • Beggs, Alan; Graddy, Kathryn (Autumn 1997). "Declining Values and the Afternoon Effect: Evidence from Art Auctions". The RAND Journal of Economics. 28 (3): 544. doi:10.2307/2556028.
  • Beggs, Alan; Graddy, Kathryn (May 1, 2009). "Anchoring Effects: Evidence from Art Auctions". American Economic Review. 99 (3): 1027–1039. doi:10.1257/aer.99.3.1027.
  • Graddy, Kathryn (1995). "Testing for Imperfect Competition at the Fulton Fish Market". The RAND Journal of Economics. 26 (1): 75. doi:10.2307/2556036.


  1. ^ a b c "Kathryn Graddy named dean of Brandeis University International Business School". Brandeis University. May 1, 2018. Retrieved December 5, 2020.
  2. ^ "Kathryn Graddy receives honorary doctorate in Copenhagen". Brandeis International Business School. March 22, 2018. Retrieved November 17, 2021.
  3. ^ "Kathryn Graddy named the Fred and Rita Richman Distinguished Professor of Economics". Department of Economics Blog. Brandeis University. January 31, 2013. Retrieved November 17, 2021.
  4. ^ "Kathryn Graddy". Brandeis International Business School. Archived from the original on December 5, 2020. Retrieved December 5, 2020.
  5. ^ Rocheleau, Matt (November 27, 2018). "In today's market, could the stolen Gardner art be worth $1 billion?". The Boston Globe. Retrieved May 1, 2021.
  6. ^ Ehrenfreund, Max (May 12, 2015). "Why this Picasso sold for $180 million and what it tells us about the super rich". The Washington Post. Retrieved May 1, 2021.
  7. ^ Carvajal, Doreen (July 13, 2015). "Danh Vo and Bert Kreuk's Legal Battle Pits Artist Against Collector". The New York Times. Retrieved May 1, 2021.
  8. ^ Harford, Tim (June 22, 2007). "What do fish markets teach us about the economy?". Slate. Retrieved December 5, 2020.
  9. ^ "How deep are your pockets?". The Economist. June 30, 2012. Retrieved December 5, 2020.
  10. ^ Jacobs, Tom (December 5, 2017). "Contrary to Cliché, Misery May Inhibit Creativity". Pacific Standard. Retrieved December 5, 2020.
  11. ^ Voon, Claire (December 6, 2017). ""Tortured" Artists Are Actually Less Creative, Study Suggests". Hyperallergic. Retrieved December 5, 2020.
  12. ^ Malvern, Jack (December 24, 2015). "There's no need to suffer for your art". The Times. Retrieved December 5, 2020.
  13. ^ Clark, Nick (December 22, 2015). "An academic has debunked the myth of the tortured artist". The Independent. Retrieved December 5, 2020.
  14. ^ Blakemore, Erin (January 8, 2016). "Grief May Not Make Artists Better". Smithsonian. Retrieved December 5, 2020.

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