Lucas Davis received a B.A. from Amherst College in 1996 and a Ph.D. in Economics from the University of Wisconsin in 2005. Prior to joining Haas in 2009, he was an Assistant Professor of Economics at the University of Michigan. His research focuses on energy and environmental markets, and in particular, on electricity and natural gas regulation, pricing in competitive and non-competitive markets, and the economic and business impacts of environmental policy. His work appears in leading academic journals including the American Economic Review, the RAND Journal of Economics, and the Journal of Political Economy.
Featured in the Media
Between 1992 and 2016, the compensation of oil company CEOs rose by 2 percent for every 10 percent increase in oil prices, according to a new study co-authored by business professor Lucas Davis, faculty director of Berkeley's Energy Institute at Haas. The statistical analysis looked at the compensation of 934 executives at 80 large exploration and production companies, finding a nearly one-for-one relationship between oil company valuation and the price of oil. The reporter writes: "Linking pay with share prices is widespread, of course, but more so in the oil business, where non-salary components accounted for more than 70 percent of compensation for the average executive in 2016; up from about 60 percent 20 years ago and higher than for virtually every other sector, according to the paper."