Gary D. Eppen is the Ralph and Dorothy Keller Distinguished Service Professor of Operations Management, Emeritus, and former deputy dean for part-time programs at the University of Chicago Booth School of Business. Eppen joined Chicago Booth in 1964 as an assistant professor of industrial administration.
Eppen served as associate dean for six years, director of the International Business Exchange Program for fourteen years, associate dean for PhD studies for seven years, director of the Executive MBA Program for five years, and deputy dean for part-time programs for three years.
Eppen has published across a wide field of subjects: accounting, finance, marketing, purchasing, operations and optimization theory. His paper "Effects of Centralization on Expected Costs in a Multi-Location Newsboy Problem," Management Science 1979 was selected as one of the 50 most influential papers in the first 50 years of Management Science. He is also coauthor of the now-classic texts: Quantitative Concepts for Management: Decision Making without Algorithms; and Introductory Management Science.
He currently serves as an independent director of Hub Group, Inc., and on the advisory board of the Power Cat Group, LLC. He held the position of director of Landauer Inc. from 1992 until 2007.
Eppen earned a PhD in operations research from Cornell University in 1964, a master of science in industrial engineering from the University of Minnesota in 1960, a bachelor of science from the University of Minnesota in 1958, and an associate in arts degree in pre-engineering from Austin Junior College in 1956.
Eppen was awarded the Francqui Medal by the Katholieke Universiteit Leuven in 1979. He was awarded an honorary doctor of economics by the Stockholm School of Economics in May 1998.
Foundations of Econometrics Amsterdam: North-Holland (1976).
Financial Reporting by State and Local Government Units Chicago: University of Chicago Press (1977) (with Sidney Davidson, David O. Green, Walter Hellerstein, and Roman L. Weil).
Prescriptions for Working Statisticians New York: Springer-Verlag (1988).
Elementary Bayesian Statistics United Kingdom: Edward Elgar (1997) (by Gordon Antelman, edited with Robert McCulloch).
“Estimation of Multimagazine Readership,” Journal of Business 31 (1958) 235-42. (with Seymour Banks).
“Use of Tolerance Limits in Missile Evaluation,” Proceedings of the Statistical Techniques in Missile Evaluation Symposium, Virginia Polytechnic Institute, Blacksburg (1958) 43-52.
“The Fitting of Straight Lines When Both Variables are Subject to Error,” Journal of the American Statistical Association, 54 (1959) 173-205 (reprinted in Readings in Econometric Theory, J.M. Dowling and F.R. Glahe (eds.) Boulder CO: Colorado Associated University Press (1970) and in the Bobbs-Merrill Reprint Series in Economics as Econ-195).
“Least Squares Estimation in Finite Markov Processes,” Psychometrika 24 (1959)137-44.
“Bounds on the Expectation of a Convex Function of a Multivariate Random Variable,” Annals of Mathematical Statistics 30 (1959) 743-46.
“Inequalities for Stochastic Linear Programming Problems,” Management Science 6 (1960) 197-204.
“Determinantal Methods in Latent Class Analysis,” Psychometrika 25 (1960) 183-98.
“On the Solution of Two-Stage Linear Programs Under Uncertainty,” Proceedings of the Fourth Berkeley Symposium on Mathematical Statistics and Probability, Vol. 1, Berkeley: University of California Press (1961) 165-76 (with George B. Dantzig).
“Parameter-Free and Nonparametric Tolerance Limits: The Exponential Case,” Technometrics 4 (1962) 75-95 (with Leo A. Goodman).
“Methods of Solution of Linear Programs Under Uncertainty,” Operations Research 10 (1962) 463-71.
“More on Length of Confidence Intervals,” Journal of the American Statistical Association 57 (1962) 586-9.
“Dual Variables in Two-Stage Linear Programming Under Uncertainty,” Journal of Mathematical Analysis and Applications 6 (1963) 97-119.
“Tests of Homogeneity for Correlated Samples,” Journal of the American Statistical Association 58 (1963) 97-119.
“Linear Programming Under Uncertainty,” in R.L. Graves and P. Wolfe (eds.) Recent Advances in Mathematical Programming, New York: McGraw-Hill (1963) 103-110.
“On the Efficiency of Three-Stage Least Squares Estimation,” Econometrica 32 (1964) 51-6 (reprinted in Simultaneous Equation Estimation, Carl F. Christ (ed.) England: Edward Elgar Publishing (1994)).
“Instrumental Variables in Factor Analysis,” Psychometrika 29 (1964) 105-13.
“Spurious Correlation Due to Deflating Variables,” Econometrica 32 (1964) 652–5.
“Admissible Communalities in Factor Analysis,” Psychometrika 30 (1965) 455-8.
“Approximate Confidence Intervals for the Reliability of Series and Parallel Systems,” Technometrics 7 (1965) 495-503.
“Statistical Notes on Cloud-Seeding Projects,” Weather and Climate Modification, Vol. II. Washington, D.C.: National Academy of Sciences, National Research Council Publication No. 1350 (1966) 184-91.
“Statistical Estimation Procedures for the 'Burn In' Process,” Technometrics 10 (1968) 51-62 (with F. Proschan, R. Barlow, and E. Scheuer).
“Latent Structure,” International Encyclopedia of the Social Sciences New York: MacMillan and Free Press, Vol. 9 (1968) 33-8. (see also International Encyclopedia of Statistics New York: MacMillan (1978) 499-505).
“Models, Games and Data Banks: Implications for Data Collection,” A New Measure of Responsibility for Marketing, K. Cox and B.M. Enis (eds.) Chicago: American Marketing Association (1968) 236-8.
“Uncertainty,” Systems Analysis and Policy Planning, E.S. Quade and W.I. Boucher (eds.) New York: American Elsevier (1968) 81-96.
“Efficiency of the Sample Mean When Residuals Follow a First Order Stationary Markoff Process,” Journal of the American Statistical Association, 63 (1968) 1237-46 (with J. Chipman, J.W. Pratt, and K.R. Kadiyala).
“Approximate Confidence Regions for Constraint Parameters,” Multivariate Analysis II, P.R. Krishnaiah (ed.) New York: Academic Press (1969) 261-86 (with Ingram Olkin).
Comments on R.L. Basmann paper, in Frontiers of Quantitative Economics, Vol. II, M.D. Intriligator and D.A. Kendrick (eds.) Amsterdam: North Holland (1974) 276-81.
Comment on K.S. Palda paper, in Journal of Law and Economics 18 (1975) 773-4.
“Optimal Initial Conditions for a Simulation Problem,” Operations Research 24 (1976) 572-7.
“Some Comparisons of the Use of Empirical and Lognormal Distributions in Option Evaluation,” Proceedings of the Seminar on the Analysis of Security Prices, University of Chicago: Center for Research in Security Prices, 22 (1977) 155-68 (reprinted in G. Gastineau, The Stock Options Manual, Second Edition, New York: McGraw-Hill (1979) 324-31).
“Why Simulations Are an Unreliable Test of Option Strategies,” Financial Analysts Journal 35 (1979) 61-76 (with Gary Gastineau).
“New Methods of Telephone Interviewing: A&S/CATI,” Proceedings XXXII ESOMAR Congress (1979) 189-200 (with I. Roshwalb and L. Spector).
“On Conjoint Analysis and Quantal Choice Models,” Journal of Business 53 (1980) S37-44.
S&P 500 Stock Index Futures Evaluation Tables, Financial Analysts Journal 39 (1983) 68-76 (with Gary Gastineau) (reprinted in F.J. Fabozzi and G.M. Kipnis, Stock Index Futures, Homewood, IL: Dow Jones-Irwin (1984) 99-110).
Some Comments on the CBOE Call Options Index, Financial Analysts Journal 40 (1984) 58-67 (with Gary Gastineau).
“Options on Stock Indexes and Stock Index Futures: Pricing Determinants, Role in Risk Management, and Option Evaluation, in F.J. Fabozzi and G.M. Kipnis,” Stock Index Futures Homewood, IL: Dow Jones-Irwin (1984) 278-86 (with F.J. Fabozzi and Gary Gastineau).
Comment on Freedman-Navidi paper, Statistical Science 1 (1986) 28-30.
“On Biblical Censuses,” Journal of Official Statistics 2 (1986) 561–9.
Comment on Hodges paper, Statistical Science 2 (1987) 282-86.
“Pricing Determinants, Role in Risk Management, and Option Evaluation for Options on Stock Indexes and Stock Index Futures, in F.J. Fabozzi and G.M. Kipnis,” The Handbook of Stock Index Futures and Options Homewood, IL: Dow Jones-Irwin (1989) 158-70 (with F.J. Fabozzi and Gary Gastineau).
“A Comparison of the Likelihood Ratio, Wald, and Rao Tests,” L.J. Gleser, M.D. Perlman, S.J. Press, and A.R. Sampson, eds. Contributions to Probability and Statistics New York: Springer-Verlag (1989) 465-71.
“Bayesian Analysis with Incompletely Specified Prior Distributions,” S. Geisser, J.S. Hodges, S.J. Press, and A. Zellner, eds. Bayesian and Likelihood Methods in Statistics and Economics Amsterdam: North-Holland (1989) 423-36.
“Probability, Uncertainty, and Risk,” The International Journal of Evidence & Proof (1997) 74-8.
“We’ve Learned Inference About the Mean; What Should We Learn Next?” STATS (2000) 3-7.
"On Sampling Design Issues When Dealing With Zeros," Journal of Survey Statistics and Methodology 1 (2013) 144-70 (with Benjamin King).