John C. Liechty
Professor
Dr. Liechty is a Professor at the Smeal College of Business, with a courtesy appointment as a Professor of Statistics at the Eberly College of Science. He is interested in the creation of public goods and the role that universities can play in these efforts. Past initiatives include leading an effort that resulted in a provision in the Dodd-Frank Act of 2010 that creates a new Office in the U.S. Treasury, the Office of Financial Research, which has the mandate to provide better data and analytic tools to the regulatory community in order to safeguard the U.S. financial system. He is a Fellow of the American Statistical Association and a Fellow of the Royal Statistics Society. He has published widely in top academic journals in Marketing, Statistics, Psychology and Finance, including Marketing Science, Journal of Marketing Research, Biometrika, Psychometrika, Journal of Experimental Psychology, Journal of Investment Management and Nature. In addition, he has experience in developing solutions for top Marketing Research firms and Investment Banks. He is an expert in marketing research, computational statistics and high-performance computing, and derivative pricing and asset allocation as well as financial stability. Dr. Liechty has a PhD from the Statistical Laboratory at Cambridge University.
Expertise
Marketing Research, Bayesian Statistics, Financial Systems, Geometry of Life, Economics of Public Goods.
Education
Ph D in Mathematical Statistics, Cambridge University, Cambridge, England, 1998-01-01 MS in Statistics, Brigham Young University, Provo, UT, 1993-01-01 BS in Physics, Brigham Young University, Provo, UT, 1991-01-01
Courses Taught
B A 303 – Marketing
Introduction to customer behavior and research, service/product development, pricing and promotion in diverse and international marketing contexts.
B A 515 – Business Statistics for Contemporary Decision Making
Conceptual understanding of statistics through both numerical and applied approach.
B A 596 – Individual Studies
Creative projects, including nonthesis research, which are supervised on an individual basis and which fall outside the scope of formal courses.
BA 515 – Bus Statistics
This course is designed to meet the entry statistical requirements for any course in the Smeal M.B.A. Program, as well as to provide job applicable skills across the entire business portfolio.
BA 815 – Bus Statistics
Conceptual understanding of statistics through both numerical and applied approach. B A 515 Business Statistics for Contemporary Decision Making (2)A course designed to meet the entry statistical requirements for any course in the Smeal MBA Program, as well as to provide job applicable skills across the entire business portfolio.
BA 815 – Business Statistics
Conceptual understanding of statistics through both numerical and applied approach. B A 515 Business Statistics for Contemporary Decision Making (2)A course designed to meet the entry statistical requirements for any course in the Smeal MBA Program, as well as to provide job applicable skills across the entire business portfolio.
MKTG 342 – Marketing Research
Research approaches, methods, and applications studied as a formal approach to problem solving for marketing decisions.
MKTG 450W – Marketing Management Policies and Programs (W)
Market-oriented problems of the firm; identification and selection of market opportunities; formulation of competitive strategies; marketing policies and programs.
MKTG 496 – Indep Studies
Creative projects, including research and design, which are supervised on an individual basis and which fall outside the scope of formal courses.
MKTG 555 – Marketing Models
Topics in the model building approach to marketing decision making, focusing on current research issues.
MKTG 555 – Mktg Models
Topics in the model building approach to marketing decision making, focusing on current research issues.
MKTG 596 – Individual Studies
Creative projects, including nonthesis research, which are supervised on an individual basis and which fall outside the scope of formal courses.
MKTG 597A – Marketing in Challenging Times (A)
This course focuses on two aspects of Bayesian Statistics: hierarchical model building and inference using the Markov chain Monte Carlo algorithm.
STAT 596 – Individual Studies
Creative projects, including nonthesis research, which are supervised on an individual basis and which fall outside the scope of formal courses.
Selected Publications
Benthall S., Caroll C., David Z., Liechty J. C., Lujan A., McComb C., Skar-Gislinge N. "Simulating Heterogeneous Portfolio Choices and Financial Market Outcomes" Agent-based Modeling and Policy-Making Workshop, 2023-03-01
Yakovlev M. A., Liang K., Zaino C. R., Vanselow D. J., Sugarman A. L., Lin A. Y., La Riviere P. J., Zheng Y., Silverman J. D., Liechty J. C., Huang S., Cheng K. "Quantiative Geometric Modeling of Blood Cells from X-ray Histotomograms of Whole Zebrafish Larvae" eLife, 2023-01-01
Wright I. D., Reimherr M., Liechty J. C. "A Machine Learning Approach to Classification for Traders in Financial Markets" Stat, 2022-03-21
Liechty J. C., Howell J., Ebbes P., Jenkins P. "Gremlins in the Data: Identifying the Information Content of Research Subjects" Journal of Marketing Research, vol. 58, 2021-01-01
Liechty J., Wuyts S. "If I Had a Hedge Fund, I Would Cure Diabetes Endogenous Mechanisms for Creating Public Goods" Science &Nature Business and Economics, vol. 1, 2021-01-01
Rossi M., Liechty J., Huang J. "Return Smoothing and its Implications for Performance Analysis of Hedge Funds" Journal of Finance and Data Science, 2018-12-01
Ebbes P., Liechty J. C., Grewal R. "Attribute Level Heterogeneity" Management Science, vol. 61, 2015-01-01
Tibbits M. M., Groendyke C., Haran M., Liechty J. C. "Automated Factor Slice Sampling" Journal of Computational and Graphical Statistics, vol. 23, 2014-01-01
Allenby G. M., Bradlow E. T., George E. L., Liechty J. C., McCulloch R. E. "Perspectives on Bayesian Methods and Big Data" Customer Needs and Solutions, vol. 1, 2014-01-01
King A., Liechty J. C., Rossi C., Taylor C. "Frameworks for Systemic Risk Monitoring" The Handbook of Systemic Risk, 2012-01-01
Liechty J. C. "Regime Switching Models and Risk Management Tools" The Handbook of Systemic Risk, 2012-01-01
Liechty J. C. "Scientists and Bankers - a New Model Army" Nature, vol. 484, 2012-01-01
Liechty J. C., Foster R. "Financial Hurricanes" Significance, 2011-11-25
Cheng W., Costanzino N., Liechty J. C., Mazzucato A. L., Nistor V. "Closed-form Asymptotics for Local Volatility Models" SIAM Journal on Fiancial Mathematics, vol. 2, 2011-01-01
Liechty J. C., Liechty M. W., Muller P. "MCMC for Constrained Parameter and Sample Spaces" Frontier of Statistical Decision Making and Bayesian Analysis, 2010-01-01
Mendelowitz A. I., Liechty J. C. "New Tools Mean Regulations Will No Longer Be Flying Blind" Financial Times, 2010-01-01
Tibbits M., Haran M., Liechty J. C. "Parallel Multivariate Slice Sampling" Statistics and Computing, vol. 21, 2010-01-01
Liechty J. C., Liechty M. W., Harvey C. R. "Parameter Uncertainty and Asset Allocation" The [Oxford] Handbook of Quantitative Asset Management, 2010-01-01
Harvey C. R., Liechty J. C., Liechty M., Muller P. "Portfolio Selection with Higher Moments" Quantitative Finance, vol. 10, 2010-01-01
Mendelowitz A. I., Liechty J. C. "Financial Regulators Need Better Data" American Banker, 2009-01-01
Liechty J. C., Liechty M. "The Shadow Prior" Journal of Graphical and Computational Statistics, vol. 18, 2009-01-01
Desarbo W., Liechty J. C., Park J. "A hierarchical bayesian multidimensional scaling methodology for accommodating both structural and preference heterogeneity" Psychometrika, vol. 73, 2008-01-01
Liechty J. C., Harvey C., Liechty M. "Bayes vs. resampling: A rematch." Journal of Investment Management, vol. 6, 2008-01-01
Liechty J. C., Netzer O., Toubia O. "Beyond Conjoint Analysis: Advances in Preference Measurement" Marketing Letters, vol. 19, 2008-01-01
Harvey C. R., Liechty J. C., Liechty M. W. "Comments on Bayes vs. Markowitz: a Rematch" Journal of Investment Management, vol. 6, 2008-01-01
Liechty J. C., Chakravarty A., Ding M., Liechty J. "Counting chickens before the eggs hatch: Associating new product development portfolios with shareholder expectations in the pharmaceutical sector" International Journal of Research in Marketing, vol. 25, 2008-01-01
Liechty J. C., Fong D., Huizingh E., De Bruyn A. "Hierarchical Bayesian Conjoint Models Incorporating Measurement Uncertainty" Marketing Letters, vol. 19, 2008-01-01
Liechty J. C., Wedel M., Pieters R. "How Goals Influence the Time Course of Eye Movements Across Advertisements" Journal of Experimental Psychology: Applied, vol. 14, 2008-01-01
Liechty J. C., Lilien G. L., DeBruyn A., Huizingh E. "Offering online recommendations with minimal customer input through conjoint-based decision aids." Marketing Science, vol. 27, 2008-01-01
Lin D. K., McDermott J., Babu G., Liechty J. C. "Data Skeletons: Simultaneous Estimation on Multiple Quantities Massive Streaming Datasets with Applications to Density Estimation" Journal of Statistics & Computing, vol. 17, 2007-01-01
Liechty J. C., Fong D., Desarbo W. "Dynamic Models with Individual Level Heterogeneity: Applied to Evolution During Conjoint Studies" Marketing Science, vol. 24, 2005-01-01
Desarbo W., Fong D., Liechty J. C., Coupland J. C. "Evolutionary Preferences/Utility Functions: A Dynamic Perspective" Psychometrika, 2005-01-01
Ding M., Grewal R. S., Liechty J. C. "Incentive-Aligned Conjoint Analysis" Journal of Marketing Research, vol. 42, 2005-01-01
Desarbo W., Fong D., Liechty J. C., Saxon M. "A Hierarchical Bayesian Procedure for Two-mode Cluster Analysis" Psychometrika, vol. 69, 2004-01-01
Liechty J. C., Liechty M. W., Muller P. "Bayesian Correlation Estimation" Biometrika, vol. 91, 2004-01-01
Montomgery A., Li S., Srinivasan K., Liechty J. C. "Modeling Online Browsing and Path Analysis Using Clickstream Data" Marketing Science, vol. 23, 2004-01-01
Desarbo W., Fong D., Liechty J. C. "Two-mode cluster analysis via hierarchical Bayes procedure" 2003-03-01
Wedel M., Pieters R., Liechty J. C. "Evidence for Covert Attention Switching From Eye-Movements: Reply on Commentaries on Liechty" Psychometrika, vol. 68, 2003-01-01
Liechty J. C., Wedel M., Pieters R. "Global and Local Covert Visual Attention: Evidence from a Bayesian Hidden Markov Market" Psychometrika, vol. 68, 2003-01-01
Liechty J. C., Lin D. K., McDermott J. P. "Single-pass Low-storage Arbitrary Quantile Estimation for Massive Datasets" Statistics and Computing, vol. 13, 2003-01-01
Liechty J. C., Ramaswamy V., Cohen S. "Choice Menus for Mass Customization: An Experimental Approach for Analyzing Customer Demand with an Application to a Web-based Information Service" Jounral of Marketing Research, vol. 38, 2001-01-01
Liechty J. C., Roberts G. O. "Markov Chain Monte Carlo Methods for switching Diffusion Models" Biometrika, vol. 88, 2001-01-01