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Michael D. Ryall

Photo of Professor Michael D. Ryall

Michael D. Ryall

Professor Emeritus of Strategic Management


MBA, University of Chicago
BS, North Carolina State University




Michael Ryall is a Professor Emeritus of Strategic Management at the University of Toronto. As an economist trained in game theory, his best-known research is on the Value Capture Model, a theory that provides a mathematical foundation for business strategy. His career-long passion is investigating human learning in complex, interactive, and dynamic settings. Most recently, this interest led him into the intersection of game theory, causal inference, AI, and philosophy. His research regularly appears in peer-reviewed journals, such as Management Science, the Strategic Management Journal, the Academy of Management Review, and the Economic Journal, among others.

His teaching spans a wide range of topics, including core business strategy, advanced strategy, business ethics, data analytics for causal inference, managerial economics, and game theory. He has taught at the undergraduate, MBA, Masters, Ph.D., and executive levels.

His professional service history includes various editorial roles at leading scholarly journals, co-founding two academic associations, and the organization of many scholarly conferences and symposia. He has successfully raised funding for his research from prestigious granting bodies, including the A. P. Sloan Foundation, the Australian Research Council, and the Humanities Research Council of Canada, among others.

Academic Positions

  • 2017-present

    Professor, University of Toronto

  • 2009-2016

    Associate Professor, University of Toronto

  • 2004-2009

    Associate Professor, University of Melbourne

  • 1997-2004

    Assistant Professor, University of Rochester

  • 2015

    Guest Scientist, Max Planck Inst. for Mathematics in the Siences, Leipzig

  • 2014-15

    Associate Scholar, Lonergan Research Inst., University of Toronto

  • 2015-2016

    Visiting Scholar, Lonergan Research Inst.

  • 2008

    Visiting Scholar, London Business School

  • 2007

    Visiting Scholar, University of Toronto

  • 2002-2003

    Visiting Scholar, UCLA

  • 2001

    Visiting Scholar, Northwestern University

Non-Academic Positions

  • 1989-1992

    Managing Director, Decision Strategies, Intl.

  • 1988-1989

    General Manager, Fresh Effects Division, Dalgety, Intl.

  • 1986-1988

    VP Finance, EKSF, Inc.

  • 1984-1986

    Controller, Lytel, Inc.

  • 1983-1984

    Sr. Financial Analyst, General Instrument Coroporation

  • 1981-1983

    Financial Analyst, Air Products and Chemicals

Selected Publications - Papers

Selected Publications - Books and Chapters

  • Inference and Intervention: Causal Models for Business Analysis

    Ryall, M. D., and A. Bramson



  • Do Prior Alliances Influence Alliance Contract Structure?

    Ryall, M. D., and R. C. Sampson, A Arino and J. J. Reuer eds.

    Palgrave MacMillan


  • Does Strategy Need Computer Experimentation? in Advances in Strategic Management

    Page, S., and M. D. Ryall, J. A. C. Baum ed.

    JAI Press

    Issue:No. 15


Research and Teaching Interests

Game theory, corporate strategy, causal inference data analytics, learning in games, business ethics, social ontology.

Honors and Awards

  • 2015

    Insight Grant, Social Sciences and Humanities Research Council of Canada

  • 2015

    Best Essay, Strategic Organization!

  • 2007

    Distinguished Alumni, Intellectual Property Research Inst. of Australia

  • 2007

    Discovery Grant, Australian Research Council

  • 2006

    Best Paper Proceedings, Academy of Management

  • 1996

    Harriet and Charles Luckman Distinguished Teaching Award, UCLA

Academic / Professional Service

  • 2015-2018

    Associate Editor, Management Science

  • 2012-2014

    President, Strategy Research Initiative

  • 2008-2010

    BPS Executive Committee, Academy of Management

  • 2008-2009

    Chair, Dissertation Consortium, Academy of Management

  • 2009

    Editor, special issue, Academy of Management

  • 2007-2009

    Area Editor, Strategy, Australian Journal of Management

  • 2006-2015

    Editorial Board, Strategic Organization!

  • 2007

    Co-Founder, Strategy Research Initiative

  • 1997

    Co-Founder, Strategy Research Forum

  • 2000-2004

    Area Editor, Formal Logic and Mathematical Models,