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Ajay Agrawal

Ajay Agrawal

    Ajay Agrawal

    Peter Munk Professor of Entrepreneurship 
    Professor of Strategic Management

    Degrees: PhD in Strategy & Business Economics, University of British Columbia
    Visiting Scholar, PhD dissertation research, Massachusetts Institute of Technology (MIT)
    M.Eng./MBA, University of British Columbia,
    MBA program Visiting Scholar, London Business School
    BSc, University of British Columbia
    Email: Send an email to Ajay Agrawal

    Bio

    Ajay Agrawal is the Peter Munk Professor of Entrepreneurship at the University of Toronto's Rotman School of Management, where he conducts research on the economics of artificial intelligence, science policy, entrepreneurial finance, and the geography of innovation. Professor Agrawal is also a research associate at the National Bureau of Economic Research, founder of  the Creative Destruction Lab, and cofounder of NEXT Canada (including The Next 36 and NEXT AI). 

    Academic Positions

    2014-present  Professor; Rotman School of Management, University of Toronto
    2008-2014  Associate Professor; Rotman School of Management, University of Toronto
    2003-2008  Assistant Professor; Rotman School of Management, University of Toronto
    2001-2003  Assistant Professor; Queen's School of Business, Queen's University
    2008-present  Research Associate; National Bureau of Economic Research
    1998  Lecturer; Sauder School of Business, University of British Columbia

    Non-Academic Positions

    2012-present  Founder and Academic Director;Creative Destruction Lab at Rotman School of Management
    2010-present  Cofounder and Academic Director;NEXT Canada (including The Next 36 and NEXT AI)

    Selected Publications - Papers

    • How stars matter: Recruiting and peer effects in evolutionary biology; with J. McHale, A. Oettl; Research Policy; 2017
    • What to Expect From Artificial Intelligence; with J. Gans, A. Goldfarb; MIT Sloan Management Review; 2017
    • Roads and Innovation; with A. Galasso, A. Oettl; Review of Economics and Statistics; 2016
    • Understanding the Changing Structure of Scientific Inquiry; with A. Goldfarb, F. Teodoridis; American Economic Journal: Applied Economics; Issue: 8(1); 2016; Pages: 100-128
    • Are Syndicates the Killer App of Equity Crowdfunding?; with A. Goldfarb, C. Catalini; California Management Review; Issue: 58(2); 2016; Pages: 111-124
    • Does standardized information in online markets disproportionately benefit job applicants from less developed countries?; N. Lacetera, E. Lyons; Journal of International Economics; 2016
    • The Simple Economics of Machine Intelligence; with J. Gans, A. Goldfarb; Harvard Business Review; 2016
    • Diaspora Networks, Knowledge Flows, and Brain Drain; Intellectual Property, the International Mobility of Knowledge Workers, and the Brain Drain, World Intellectual Property Organization; 2016
    • Crowdfunding: Geography, Social Networks, and the Timing of Investment Decisions; with C. Catalini, A. Goldfarb; Journal of Economics and Management Strategy; Issue: 24(2); 2015; Pages: 253-274
    • Deals not Done: Sources of Failure in the Market for Ideas; with I. Cockburn, L. Zhang; Strategic Management Journal; Issue: 36(7); 2015; Pages: 976-986
    • Collaboration, Stars, and the Changing Organization of Science: Evidence from Evolutionary Biology; with J. McHale, A. Oettl; The Changing Frontier: Rethinking Science and Innovation Policy, eds. Adam Jaffe and Ben Jones, University of Chicago Press; 2015
    • Some Simple Economics of Crowdfunding; with C. Catalini, A. Goldfarb; Innovation Policy and the Economy; Issue: 14; 2014
    • Life Sciences Venture Capital in Emerging Markets; with J. Chakma, S. Sammut; Nature Biotechnology; Issue: 31(3); 2013; Pages: 195-201
    • Digitization and the Contract Labor Market: A Research Agenda; with J. Horton, N. Lacetera, L. Lyons; Economics of Digitization; 2013
    • Why Are Some Regions More Innovative than Others? The Role of Firm Size Diversity; with Iain Cockburn, Alberto Galasso, and Alex Oettl; National Bureau of Economic Research; Issue: Working Paper 17793; 2012
    • Recruiting for Ideas: How Firms Exploit the Prior Inventions of New Hires; with Jasjit Singh; Management Science; Issue: 57(1); 2011; Pages: 129-150
    • Brain Drain or Brain Bank? The Impact of Skilled Emigration on Poor-Country Innovation; with Devesh Kapur, John McHale, and Alex Oettl; Journal of Urban Economics; Issue: 69(1); 2011; Pages: 43-55
    • The Geography of Crowd-Funding; with Christian Catalini and Avi Goldfarb; National Bureau of Economic Research; Issue: Working paper 16820; 2011
    • Not Invented Here? Innovation in Company Towns; with Iain Cockburn and Carlos Rosell; Journal of Urban Economics; Issue: 67(1); 2010; Pages: 78-89
    • Have University Knowledge Flows Narrowed? Evidence from Patent Data; with Carlos Rosell; Research Policy; Issue: 38 (1); 2009; Pages: 1-13
    • Transaction Costs in Technology Transfer and Implications for Strategy; Economic Institutions of Strategy, Advances in Strategic Management; Issue: Vol. 26; 2009
    • Restructuring Research: Communication Costs and the Democratization of University Innovation; with Avi Goldfarb; American Economic Review; Issue: 98 (4); 2008; Pages: 1578-1590
    • How Do Spatial and Social Proximity Influence Knowledge Flows? Evidence from Patent Data; with Devesh Kapur and John McHale; Journal of Urban Economics; Issue: 64; 2008; Pages: 258-269
    • International Labor Mobility and Knowledge Flow Externalities; with Alex Oettl; Journal of International Business Studies; Issue: 39 (8); 2008; Pages: 1242-1260
    • Public Sector Science and the Strategy of the Commons; with Lorenzo Garlappi; Economics of Innovation and New Technology; Issue: 16 (7); 2007; Pages: 517-539
    • Engaging the Inventor: Exploring Licensing Strategies for University Inventions and the Role of Latent Knowledge; Strategic Management Journal; Issue: 27 (1); 2006; Pages: 63-79
    • Gone But Not Forgotten: Labor Flows, Knowledge Spillovers and Enduring Social Capital; with Iain Cockburn and John McHale; Journal of Economic Geography; Issue: 6 (5); 2006; Pages: 571-591
    • D-Wave Systems: Building a Quantum Computer; Agrawal, A., R. Henderson, and A. MacCormack; Harvard Business School Press (case); 2004; Pages: N9-604-073
    • The Anchor Tenant Hypothesis: Examining the Role of Large, Local, R&D-Intensive Firms in University Knowledge Transfer; Agrawal, A. and I. Cockburn; International Journal of Industrial Organization; Issue: 21; 2003; Pages: pp. 1227-1253
    • Space is Not the Final Frontier: What We Know About Innovation and the Growth of Cities; Agrawal, A.; Journal of Economic Geography, book review of 'Innovation and the Growth of Cities' by Zoltan Acs; 2003
    • The Anchor Tenant Hypothesis: Examining the Role of Large, Local, R&D-Intensive Firms in University Knowledge Transfer; with Iain Cockburn; International Journal of Industrial Organization; Issue: 21; 2003; Pages: 1227-1253
    • Putting Patents in Context: Exploring Knowledge Transfer from MIT; Agrawal, A. and R. Henderson; Management Science; Issue: Vol. 48, No. 1, January; 2002; Pages: pp. 44-60
    • Public Sector Science and the Strategy of the Commons (Abridged); Agrawal, A. and L. Garlappi; Best Paper Proceedings, Academy of Management; 2002
    • Innovation, Growth Theory, and the Role of Knowledge Spillovers, Statistics Canada; Agrawal, A.; The Innovation Analysis Bulletin; Issue: Vol. 4, No. 3, Ottawa, Canada; 2002
    • Research on University-to-Industry Knowledge Transfer: Framework of Existing Literature and Unanswered Questions; Agrawal, A.; International Journal of Management Reviews; Issue: Vol. 3, No. 4; 2001; Pages: pp. 285-302

    Honors and Awards

    2017  Distinguished Scholarly Contribution Award; Rotman School of Management
    2013-2018  Principal Investigator Award; Social Sciences and Humanities Research Council
    2013  Professor of the Year (Awarded by MBA Class of 2013); Rotman School of Management
    2012  Professor of the Year (Awarded by MBA Class of 2012); Rotman School of Management
    2011  'Professor of the Year' and 'Most Challenging Professor' (Awarded by MBA Class of 2011); Rotman School of Management
    2010  Martin-Lang Award for Excellence in Teaching; Rotman School of Management
    2009  Principal Investigator (2009-2012); Social Sciences and Humanities Research Council Award
    2005  Research Grant (2005-2010), Senior Investigator; National Science Foundation
    2005  Connaught Research Grant Award (2005-2007); University of Toronto
    2004  Research Award, three-year grant, single author applicant (2004-2007); Social Sciences and Humanities Research Council
    2003  Nominated for Polanyi Prize in Economics
    2003  Nominated for 2003 Teaching Excellence Award; Queen’s University Commerce Society
    2002  New Researcher Award; Queen’s University, School of Business
    2002  Research Award (INE), three-year grant, single author applicant (2002-2005); Social Sciences and Humanities Research Council
    2002  D.I. McLeod Research Fellowship
    2002  Best Paper; Academy of Management, BPS Division
    2002  Top Nominee, 2002 Teaching Excellence Award; Queen’s University Commerce Society
    2001  Short-listed for Young Economist Essay Prize; European Association for Research in Industrial Economics (EARIE)
    2001  Best Student Paper Award 2001; Portland International Conference for Management in Engineering and Technology (PICMET)
    2000  Best Dissertation Award Runner-up; jointly awarded by INFORMS and the Academy of Management, Technology and Innovation Management Division
    2000  Nominated for the Carolyn Dexter Best International Paper Award
    1999  Entrepreneurship Research Fellowship; University of British Columbia
    1998  Entrepreneurship Research Fellowship; University of British Columbia
    1995  International Business Scholarship; University of British Columbia

    Research and Teaching Interests

    Professor Agrawal currently teaches the Creative Destruction Lab MBA course and previously has taught "Competition and Strategy in Creative Industries" and "Corporate Strategy" in the MBA program and "Economics of Innovation" in the PhD program at the Rotman School of Management. He also taught "Technology Strategy" (MBA), "Business Strategy" (undergraduate), and "Economics of Innovation" (PhD) at Queen's University. Professor Agrawal's research explores the economics of artificial intelligence, science policy, entrepreneurial finance, and the geography of innovation.  

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