Arthur Schleifer, Jr., James J. Hill Professor of Business Administration, Emeritus, at Harvard Business School (HBS), passed away on August 28th at the age of 94. A distinguished scholar, a gifted teacher, and a generous mentor, his career spanned more than three decades at the School.
Born in New York City, Schleifer graduated from Yale University in 1952 with a degree in physics and philosophy. He went on to Harvard Business School, earning his MBA in 1954 and his Doctorate in Business Administration in 1961. After serving as a research assistant to Robert O. Schlaifer, he began his academic career at Dartmouth’s Amos Tuck School of Business Administration. There, he was also appointed a Ford Distinguished Visiting Associate Professor at New York University before returning to HBS in 1965 as an Associate Professor. Promoted to Professor in 1968, he was named to the James J. Hill chair in 1991, a position he held until his retirement in 1998.
Schleifer’s area of expertise was managerial economics, with a particular focus on decision support, decision-making, experimentation, and supply chain management. He developed innovative teaching methods that emphasized the practice of data analysis for solving real-world business problems.
For more than 30 years, he taught and led the Managerial Economics course in the MBA Program, leaving a lasting imprint on generations of students. He was known for his patient and thoughtful style in the classroom, encouraging students to dig deeply into data and consider its implications carefully. “His greatest academic delight was teasing implications from data, and he brought a valuable pragmatism to this approach,” remembers longtime colleague David Bell, the School’s George M. Moffett Professor of Business Administration, Emeritus. “He had a great ability to analyze data, interpret results, and develop conclusions.”
Schleifer’s academic output was substantial. He co-authored a four-volume series with Bell titled Managerial Decision Analysis, which remains a cornerstone in the field. The volumes—Decision Making Under Certainty; Decision Making Under Uncertainty; Data Analysis, Regression, and Forecasting; and Risk Management—reflected his passion for teaching managers how to think critically about data and decisions. He also co-authored Finite Mathematics with Business Applications with John Kemeny, Laurie Snell, and Gerald Thompson, bringing mathematical rigor to business contexts.
A prolific case writer, Schleifer produced dozens of cases, background notes, and teaching materials. Several of his works on causal inference, sampling and statistical inference, relevant costs and revenues, and forecasting with regression analysis remain bestsellers today. His 1992 case study on item forecasting and inventory management at L.L. Bean continues to be widely taught and purchased.
Schleifer was also an early advocate for applying computing power to business education. At a time when computers were not yet ubiquitous, he wrote programs that enabled students to analyze complex data, anticipating the widespread use of software like Excel decades later.
Beyond his research and teaching, Schleifer was a valued mentor and colleague. He advised doctoral students, assisted peers with data analysis, and welcomed new faculty members with warmth and generosity. David Bell recalled that Schleifer often stopped by his office as a new faculty member simply to check in, saying, “He was never too busy for the new guy.” His colleagues frequently described him as the collegial glue of HBS—gentle, patient, and supportive.
In addition to his academic career, Schleifer served as a consultant to companies across industries including computing, retail, tire manufacturing, and telecommunications. He also provided expert testimony for numerous Fortune 100 firms and sat on advisory boards, bringing his analytical expertise to bear on pressing business challenges.
Schleifer leaves behind an extraordinary legacy as a teacher, scholar, and mentor. He helped define the teaching of managerial economics at Harvard Business School and beyond, inspiring countless students to think critically and rigorously about data in decision-making. His colleagues remember him as a brilliant thinker, a kind friend, and a generous mentor whose influence will resonate for decades to come.
“Art and I were in different fields at HBS, but bonded late in our careers,” said Louis T. Wells, Herbert F. Johnson Professor of International Management, Emeritus. “Our friendship grew closer after we both retired and found ourselves living within a few blocks of each other in Back Bay. We often had dinners in our respective homes. And colleagues, neighbors, and professional friends looked forward to Art’s annual 4th of July party in his beautiful condominium on Beacon Street overlooking the barges from which the fireworks were launched. I will miss our discussions of politics, foreign policy, and science policy.”
Outside academia, Schleifer enjoyed a rich personal life. An avid tennis player, certified scuba diver, and photography enthusiast, he often combined his hobbies by capturing striking underwater images. He also found joy in using technology to enhance his photographs, merging his analytical precision with an artist’s eye.