G. Marc Choate

Emeritus Professor of Economics and Finance

"When students complete the Atkinson program, the most valuable asset they take with them is a way of thinking.”


Managers must be able to identify critical assumptions and issues, and correctly reach conclusions from them. While the conclusions may be of interest, understanding the way in which they’re reached is probably of longer-run significance. Stated another way, the important question at hand is “why”?

When students complete the Atkinson program, the most valuable asset they take with them is a way of thinking. Part from a logical approach to decision making, this way of thinking embraces a clear knowledge of analytical tools, the assumptions underlying those tools, and their strengths and weaknesses. The way of thinking is the framework within which the decision maker applies the tools.

No group of faculty or students has ever met to determine a way of thinking at the Atkinson School; they never will. But one is developed over the two years. This way of thinking is both valuable and unique.


  • Ph.D., University of Washington
  • M.B.A., University of Washington
  • B.A., University of Washington

Research Interests

Financial Management in Health Care, Corporate Capital Structure and Dividend Policy,
Capital Budgeting in an Agency Framework.

Selected Professional Activities

Board of Editors, Health Progress (Journal of the Catholic Health Care Association); Member, Board of Trustees, Salem Hospital; Consultant, Forecasting Mandated Health Care Costs for the Associated Oregon Industries Foundation (with Mike Hand).

Selected Publications

"The Governance Problem, Asset Specificity and Corporate Financing Decisions," Journal of Economic Behavior and Organization, 1997.

"Debt and Taxes" (with Thompson), in Handbook of Debt Management, editor Gerald Miller, New York, 1996. Financial Management (with Archer and Racette), John Wiley and Sons, 1983.

"The Impact of Asset Specificity on Single Period Contracting" (with Maser), Journal of Economic Behavior and Organization, 1992. Co-author "Biased Budget Forecasts," Journal of Economic Behavior and Organizations, December, 1990.

Co-author, "Budget Makers as Agents: A Preliminary Investigation of Discretionary Behavior Under State-Contingent Rewards," Public Choice, 1988.
"Trustee's Role in Financial Decisions," Health Progress, November, 1987