Professor Umbeck has been with Krannert since 1975. His main teaching interests include microeconomics, law and economics, economics of information, and private contracts. His principal research interest is the economics of crime and contract enforcement.
Some of his publication credits include “Theory of Contract Choice,” published in the Journal of Law and Economics; (October 1977); “Might Makes Rights,” published in Economic Inquiry: (January 1981); and a book, A Theory of Property Rights (Iowa State University
Press, December 1981). For a complete list of publications, refer to the publications tab. He has served as a consultant for several corporations and government agencies.