Professor of Operations and Information Management
Georgetown University - McDonough School of Business
Ph.D., Operations Research, Weatherhead School of Management, Case Western Reserve University
M.S., Operations Research, Weatherhead School of Management, Case Western Reserve University
M.S., Industrial Management, University of Wisconsin
B.S., Civil Engineering, University of Minnesota
Phone: (202) 687-8008
Facsimile: (202) 687-4031
Professor Kamrad's primary research interest focuses on risk management and decision making problems in the face of uncertainty. Within this broad area, he has principally concentrated on operational risk management issues and related capital investment problems in production and manufacturing operations. The nature of Professor Kamrad's research is interdisciplinary and effectively can be described as the interface between economics, finance and operations. In this sense, one of his key research objectives has been to reconcile operations management with market and process related problems. "Essentially, through bridging such gaps, a more in-depth understanding and a greater economic perception regarding production processes can be achieved that is also strategically valuable to decision makers in this arena."
Professor Kamrad has numerous related articles that address the joint problems of pricing, warranty and supply contracts, risk and profit sharing, and quality decisions within an options/economic framework. For instance, the risk associated with producing items when price uncertainty and system failures can be managed through innovative "warranty" contracts that include the moral hazard implications arising from shared expenditures. In other situations, his research uncovers how purchasing agreements with profit sharing provisions between a manufacturer and its suppliers can help mitigate operating risks arising from purchase quantity variations due to exchange rate uncertainties. In other settings, Professor Kamrad's research demonstrates how production policies can be optimally changed over time to maximize profits when production yields are subject to random variation and demand for the product is uncertain.
Professor Kamrad's broader research interests involve Applied Stochastic Processes; Applied Control Theory and Dynamic Programming; Contingent Claims Analysis; Warranty and Supply Contract valuation; Risk Management problems in Supply Chains; and Inventory modeling. His research has been published in prestigious academic journals, including Management Science; Operations Research; IIE Transactions; Naval Research Logistics; IEEE Transactions on Engineering Management; and the European Journal of Operational Research.
Professor Kamrad joined the Georgetown's Faculty in the Fall of 1991. He teaches at the Executive, Graduate, and Undergraduate levels. His current course offerings include: Real Options Valuation; Operations Research; Productions and Operations Management, Regression Modeling and Analysis; and Decision Analytics.
Dr. Kamrad is a member of the Institute for Operations Research and Management Science (INFORMS); Production and Operations Management Society (POMS). He is also a member of the American Finance Association (AFA), the Institute of Industrial Engineers (IIE), and previously, the American Society of Civil Engineers (ASCE). Dr. Kamrad's consulting experience is equally significant and includes projects in risk management modeling, purchasing and inventory problems, pricing, and forecasting issues.
AREAS OF EXPERTISE:
Professor Kamrad specializes in (real) options pricing and risk management issues in operations. His research interests include applied stochastic processes (probabilistic modeling), contingent claims analysis, flexibility valuation and production and inventory modeling. Professor Kamrad teaches courses in real options; managerial statistics; management science; productions and operations management, regression analysis; and quantitative modeling.
Professor Kamrad's research on analysis and valuation of both financial and real options has been published in journals
such as Management Science, Operations Research, IIE Transactions, European Journal of Operational Research, and IEEE Transactions on Engineering Management.
Professor Kamrad's consulting experience includes projects in risk management (real options), purchasing, inventory, manufacturing operations, pricing and forecasting issues. Professor Kamrad is a member of the Institute for Operations Research and Management Science (INFORMS). He is also a member of the American Finance Association (AFA), the Institute of Industrial Engineers (IIE), the Production and Operations Management Society (POMS), and the American
Society of Civil Engineers.