Profile Information

Profile

Bobby McCormick was born and grew up, begrudgingly and somewhat, a Southerner, but it was a long time ago. He knows, and even likes, some Yankees. He graduated Clemson University, combined with a two-year interruption for military service as 1LT in the U.S. Army (which served him well). With a great deal of luck he earned the Ph.D in Economics from Texas A&M University in 1978. He has managed to finagle appointments at the University of Rochester, Virginia Tech, Universidad Francisco Marroquin (Guatemala), CIMBA (Asolo Italy), and, of course, Clemson University. Amazingly, he was named BB&T Scholar and Director of the BB&T Center for Economic Education at Clemson. In 2002, he was recognized as Senior Fellow at Property Environment Economy Research Center in Bozeman, MT, a position he has managed to hold on to until this day, but who knows what tomorrow holds as they may yet come to their senses. In a mild vote counting fraud, not dissimilar to the 2000 Presidential Election mess, he won several Clemson University teaching awards, The Prince Innovative Teacher of the Year (1998), the Alumni Professor of the Year (2000), the MBA Professor of the Year (several occasions), and the National Scholars Mentor Award (2004 and 2006). He has served inauspiciously as consultant to a number of U.S. and foreign governmental agencies, the U.S. Congress and several state legislatures. He refuses to be held accountable for the actions of any of these bodies. Bobby is currently an associate editor of the Journal of Corporate Finance and previously the Southern Economic Journal. Bobby enjoys consulting these days in corporate financial affairs, litigation matters, golf economics, entrepreneurship, organizational structure and architecture, business planning and development, and financial valuation. He does a fair amount of environmental consulting, particularly in the arena of ecosystem services valuation. His scholarly research covers a rather broad spectrum in the area of microeconomics including the areas of antitrust, public choice, regulation, sports and economics, managerial and financial economics, environmental economics, and general microeconomic theory. Other stuff he has written that hardly anyone reads covers managerial economics, energy and gambling markets, and the regulatory environment. Bobby loves the smell of wood chips and sawdust, the whir of his bicycle pedals, hunting, kayaking, all things Montana, and the sublime perfectness of Edisto Beach. He has been known to attend a Clemson football game on occasion. An old family farm in south Georgia restores his soul and reminds him of wonderful, youthful days gone by where he learned to pulpwood, sawmill, cut calves, hay, and drive a tractor. He has two mildly grown up sons who light each day, and he is married to his love, Ms. Valerie Jean DeVries McCormick who, in addition to being his wife, saves him huge sums by also being his therapist.

Research Interests

• Sports and Economics
• Property rights and environmental economics
• Leadership
• Entrepreneurship
• Climate Change adaptation

Research Publications

• "Standing on the Shoulders of the Giant Armen Alchian," 2014, forthcoming Journal of Corporate Finance, with Mike Maloney.
• "The Sex Ratio and the Out-Of-Wedlock Birth Rate In The United States during World War II," International Journal of Social Science Studies, (2013), with Melissa Yeoh and Mason Gerety.
• "The Private Provision of Public Goods: An Analysis of Homes on Golf Courses," Journal of Private Enterprise, 27(2) Spring 2012: 103-120 with Frank Limehouse and Melissa Yeoh.
• "Chivalry in golf? Significant tee ratios," Public Choice (2010) 142:323-34, with Bob Tollison.
• "The Demand for Environmental Quality: An Application of Hedonic Pricing in Golf." Journal of Sports Economics (June 2010) 11: 261-28, with Frank Limehouse and Peter Melvin.
• The Everglades: An Economic Evaluation of Ecosystem Services, prepared for Everglades Foundation, July 2010 with M. Lindsay, R. Clement, D. Fischer, and R. Watson.
• Habitat Farming Enterprise Program Economic Remuneration, Initiative for Rural Innovation & Stewardship Committee of the North Central Washington Resource Conservation and Development Council, with Reed Watson, February 2009.
• "Crime on the Court, Another Look: Reply to Hutchinson and Yates." Journal of Political Economy 115(3) (June 2007):520-21, with Robert D. Tollison.
• "More Inconvenient Truths." in Hoover Digest 2 (2007), with Terry L. Anderson.
• "A Theory of Commodity Bundling in Final Product Markets: Professor Hirshleifer Meets Professor Becker." International Review of Law and Economics (June 2006), with William Shughart and Robert D. Tollison.
• "The Relationship Between Net Carbon Emissions and Income." in You Have to Admit It's Getting Better-The Environment That Is. Palo Alto: Hoover Press, 2004 ed. by Terry L. Anderson.
• "Carbon Emissions, Carbon Sinks, and Global Warming." in Agricultural Policy and the Environment. Rowman and Littlefield (2003), ed. by R. Meiners and B. Yandle, with Joshua Utt and Walker Hunter.
• "Racial Integration as Innovation: Evidence from Sports Leagues," American Economic Review (March 2002):16-26, with Brian Goff and Robert D. Tollison.
• "The Response of Workers to Wages: Evidence from Foot Races." Journal of Sports Economics (June 2000): 99-122, with Michael T. Maloney.
• "Why Do Black Basketball Players Work More For Less Money?" Journal of Economic Behavior and Organization (February 2001):201-219, with Robert D. Tollison.
• "On Legislatures and Legislative Wage Efficiency." in Public Choice Companion (2000), edited by W. Shughart, with Chad Turner.
• "Smoking, Insurance, and Social Costs." Regulation (Summer 1997):33-37, with Robert D. Tollison and Richard Wagner.
• "Stranded on the Road to Electricity Competition." Forum for Applied Research and Public Policy 12(3) (Fall 1997):18-21.
• "Economic Principles of Contractor Compensation." Journal of Management in Engineering, with William E. Howard and Lance Bell, 1997.
• "Customer Choice, Utilities Loss: Stranded Cost Recovery in the Deregulation of the U.S. Electric Power Industry." Natural Resources Journal (Winter 1997):59-124, with Michael T. Maloney and Raymond Sauer.
• "A Financial Market Event Study of the MFJ Restrictions in the Telecommunications Industry." Managerial and Decision Economics 16 (1995): 401-425, with Michael T. Maloney. Reprinted in Richard Higgins & Paul Rubin, Deregulating Telecommunications, Wiley: New York, 1995, pages 123-48.
• "Private and Public Choices in Public Education: An Investigation of Trustee Effects." Public Choice 78 (1994):219-230, with Cora Moore and Bruce Yandle.
• "Managerial Decision Making and Capital Structure." Journal of Business 66(2) (April 1993):189-217, with Michael T. Maloney and Mark Mitchell.
• "An Examination of the Role that Intercollegiate Athletic Participation Plays in Academic Achievement: Athletes' Feats in the Classroom." Journal of Human Resources 28(3) (Summer 1993): 555-570, with Michael T. Maloney. Reprinted in The International Library of Critical Writings in Economics, ed. by A. Zimbalist and R. Woods, Elgar Press, 2000.
• "Preaching Matters." Journal of Economic Behavior and Organization 21 (1993):235-50, with Jody Lipford and Robert D. Tollison. Reprinted in Trade in the Pre-Modern Era 1400-1700, Edward Elgar Ltd: Chentenham UK, edited by Douglas Irwin, 1994.
• "Some Evidence on the Alchian and Allen Theorem: The Third Law of Demand?" Economic Inquiry XXXI(3) (July 1993):383-93, with Eric Bertonazzi and Michael T. Maloney.
• "Intrafirm Profit Opportunities: Evidence from Professional Basketball." pgs. 3-36 in Advances in the Economics of Sports, vol. 1, ed. by Gerald Scully, New York:JAI Press, 1992, with Robert Clement.
• "The Review Process in Economics: Some Empirical Findings." Review of Economics and Statistics LXXIIA (1990):v-xvii, with David Laband and Michael T. Maloney. Reprinted in Economics Alert, No. 2, March 1993, pp. 5-8.
• El Analisis Economico De Lo Politico, Instituto de Estudios Economicos, 1990, with James M. Buchanan and Robert D. Tollison.
• "Athletics and Academics: A Model of University Contributions." in Sportometrics, ed. by Brian Goff and Robert D. Tollison, College Station: Texas A&M University, 1990, pages 193-206, with Maurice Tinsley.
• "Coaching Team Production." Economic Inquiry (April 1989):287-304, with Robert Clement. Reprinted in Sportometrics, ed. by Brian Goff and Robert Tollison, College Station: Texas A&M University, 1990, pages 75-92.
• "A Review of the Economics of Regulation: The Political Process." in Regulation and the Reagan Era, ed. by Roger Meiners and Bruce Yandle, Washington: Holmes and Meier, 1988, pages 16-40.
• "Excess Capacity, Cyclical Production, and Merger Motives: Some Evidence from the Capital Markets." Journal of Law and Economics 31(2) (October 1988):321-50, with Michael T. Maloney.
• "University Governance: A Property Rights Perspective." Journal of Law and Economics (October 1988):423-42, with Roger Meiners. Reprinted in Contracts in academia editor M.M. Yurevich, Higher School of Economics, Moscow, 2011, translated into Russian.
• "The Disinterest in Deregulation: Reply." American Economic Review 78(1) (March 1988):284, with William Shughart II and Robert D. Tollison.
• "Athletics Versus Academics? Evidence From SAT Scores." Journal of Political Economy 95(5) (October 1987):1103-16, with Maurice Tinsley. Reprinted in Sportometrics, ed. by Brian Goff and Robert D. Tollison, College Station: Texas A&M University, 1990, pages 179-192.
• "Crime and Income Distribution in a Basketball Economy." International Review of Law and Economics 6 (June 1986):115-24, with Robert Tollison. Reprinted in Sportometrics, ed. by Brian Goff and Robert Tollison, College Station: Texas A&M University, 1990, pages 295-310.
• "The Disinterest in Deregulation: Reply." American Economic Review 76(3) (June 1986):564-65, with William Shughart II and Robert D. Tollison.
• "Inflation, Regulation, and Financial Adequacy." in Electric Power: Deregulation and the Public Interest, ed. by John Moorhouse, San Francisco: Pacific Research Institute for Public Policy, 1986, pages 135-160.
• "The Disinterest in Deregulation." American Economic Review 74 (December 1984):1075-79, with William Shughart II and Robert D. Tollison.
• "On the Recovery of Sunk Costs." Journal of Business 57(4) (October 1984):417-42, with Kenneth French.
• "Economic Regulation, Competitive Governments, and Specialized Resources." Journal of Law and Economics 27 (October 1984):329-38, with Michael T. Maloney and Robert D. Tollison.
• "Crime on the Court." Journal of Political Economy 92 (April 1984):223-35, with Robert D. Tollison. Reprinted in Sportometrics, ed. by Brian Goff and Robert D. Tollison, College Station: Texas A&M University, 1990, pages 59-74.
• "The Strategic Use of Regulation: A Review of the Literature." in The Political Economy of Regulation: Private Interests in the Regulatory Process, ed. by Robert Rogowsky and Bruce Yandle, Washington: Federal Trade Commission, March 1984, pp. 13-32.
• "Regulators as an Interest Group." in Public Choice II, ed. by James Buchanan and Robert D. Tollison, Ann Arbor: University of Michigan Press, 1983, with Mark Crain.
• "The Economic Organization of the English East India Company." Journal of Economic Behavior and Organization 4 (1983):1-17, with Gary Anderson and Robert D. Tollison. Reprinted in Trade in the PreModern Era, 1400-1700, edited by Douglas Irwin, London: Edward Elgar Publishing Ltd. 1994.
• "A Theory of Cost and Intermittent Production." Journal of Business 56(2) (April 1983):139-53, with Michael T. Maloney.
• "A Positive Theory of Environmental Quality Regulation." Journal of Law and Economics 25(1) (April 1982):99-123, with Michael T. Maloney. Reprinted in The International Library of Environmental Economics and Policy, Ashgate Publishing LTD., 2003. Reprinted in The Political Economy of Environmental Regulation, Harvard U. Press, 2004, ed. by R. Stavins.
• "Why are Inflation Rates Different Across Countries." in Inflation, the Sheltered Sector and the Use of Resources, ed. by Karl Brunner, Rochester: Center for Research in Government Policy and Business, 1982.
• "Economics and Metrology: Give 'Em and Inch and They'll Take a Kilometer." International Review of Law and Economics 1 (1981):207-21, with Roger Faith and Robert D. Tollison.
• "The Internalization of Social Costs." in Analysis of Consumer Policy, ed. by Robert D. Tollison, Philadelphia: Wharton Applied Research Center, 1981.
• "Achieving Cartel Profits Through Unionization: Reply." Southern Economic Journal 47(4) (April 1981):1162-64, with Michael T. Maloney and Robert D. Tollison.
• "Wealth Transfers in a Representative Democracy: Theory and Evidence." in Toward a Theory of the Rent Seeking Society, ed. by James Buchanan, Robert D. Tollison, and Gordon Tullock, College Station: Texas A&M Press, 1980, with Robert D. Tollison.
• "Achieving Cartel Profits through Unionization." Southern Economic Journal 46(2) (October 1979):628-34, with Michael T. Maloney and Robert D. Tollison.
• "Rent Seeking Competition in Political Parties." Public Choice 34 (1979):5-14, with Robert D. Tollison.
• "The Cost of Voting: It's Fiscal Impact on Government." Public Choice 34 (1979):271-84, with Richard McKenzie.
• "Legislators as Unions." Journal of Political Economy 86(1) (February 1978):63-78, with Robert D. Tollison. Reprinted in Public Choice II, ed. by James Buchanan and Robert D. Tollison, Ann Arbor: University of Michigan Press, 1983.
• Managerial Economics. 2d edition, Englewood Cliffs, NJ: Prentice Hall (forthcoming), with F. Limehouse.
• Managerial Economics. Englewood Cliffs, NJ: Prentice Hall, 1993.
• Politicians, Legislation, and the Economy: An Inquiry into the Interest Group Theory of Government. Boston: Martinus Nijhoff, 1981, with Robert D. Tollison.
• U.S. Economic Freedom Index: 2004 Report, Pacific Research Institute and Forbes, 2004, with L. Macquillan and Ying Huang.
• Economic Freedom in America's 50 States: A 1999 Analysis. Indianapolis: The State Policy Network, January 1999, with John Byars and Bruce Yandle.
• An Analysis of Potential New Tax Revenues on Video Poker Operations in South Carolina. Greenville, SC: Collins Entertainment, January 1999.
• The Economic Impact of the Video Poker Industry in South Carolina. Greenville, SC: Collins Entertainment, August 1998.
• Customer Choice, Consumer Value: An Analysis of Retail Competition in American's Electric Industry. Washington: Citizens for a Sound Economy Foundation, Volumes I and II, 1997, with Michael T. Maloney and Raymond Sauer.

Links

• Property and Environment Research Center
• academia.edu