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Faculty Profiles

Bardia Kamrad


Operations and Information Management (OPIM) Area Coordinator


MSB Faculty
General profile



+1 202-687-8008

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547 Hariri Building


Bardia Kamrad’s primary research interest focuses on risk management and decision making problems in the face of uncertainty. Within this broad area, he has principally concentrated on operational risk management issues and related capital investment problems in production and manufacturing operations. The nature of Kamrad's research is interdisciplinary and effectively can be described as the interface between economics, finance, and operations. In this sense, one of his key research objectives has been to reconcile operations management with market and process related problems. "Essentially, through bridging such gaps, a more in-depth understanding and a greater economic perception regarding production processes can be achieved that is also strategically valuable to decision makers in this arena."

Kamrad has numerous related articles that address the joint problems of pricing, warranty and supply contracts, risk and profit sharing, and quality decisions within an options/economic framework. For instance, the risk associated with producing items when price uncertainty and system failures can be managed through innovative “warranty” contracts that include the moral hazard implications arising from shared expenditures. In other situations, his research uncovers how purchasing agreements with profit sharing provisions between a manufacturer and its suppliers can help mitigate operating risks arising from purchase quantity variations due to exchange rate uncertainties. In other settings, Kamrad's research demonstrates how production policies can be optimally changed over time to maximize profits when production yields are subject to random variation and demand for the product is uncertain.

Kamrad's broader research interests involve Applied Stochastic Processes; Applied Control Theory and Dynamic Programming; Contingent Claims Analysis; Warranty and Supply Contract valuation; Risk Management problems in Supply Chains; and Inventory modeling. His research has been published in prestigious academic journals, including Management Science; Operations Research; IIE Transactions; Naval Research Logistics; IEEE Transactions on Engineering Management; and the European Journal of Operational Research.

Kamrad is a member of the Institute for Operations Research and Management Science (INFORMS); Production and Operations Management Society (POMS). He also is a member of the American Finance Association (AFA), the Institute of Industrial Engineers (IIE), and the American Society of Civil Engineers (ASCE).

Kamrad's consulting experience is equally noteworthy and includes projects in risk management modeling, purchasing and inventory problems, and pricing and forecasting issues.

Kamrad teaches at the executive, graduate, and undergraduate levels. His current course offerings include: Real Options Valuation; Operations Research; Productions and Operations Management, Regression Analysis; and Quantitative Modeling.

Kamrad earned a bachelor’s degree in civil engineering from the University of Minnesota, a master’s degree in industrial management/technology management from the University of Wisconsin, and both master’s and doctoral degrees in operations research with a minor in operations management from the Weatherhead School of Management at Case Western Reserve University.


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  • Ph.D. (1990) Case Western Reserve University, Operations Research
  • M.S. (1987) Case Western Reserve University, Operations Research
  • M.S. (1983) University of Wisconsin, Industrial Management
  • B.S. (1980) University of Minnesota, Civil Engineering