Arie Harel
Assc Professor
Zicklin School of Business
Department: Paul Chook Dept InfoSys & Stat
Areas of expertise:
Email Address: arie.harel@baruch.cuny.edu
> View CV- Biography
- Teaching
- Research and Creative Activity
- Grants
- Honors and Awards
- Service
Education
Ph.D., Management Science, Graduate School of Business, Columbia University
MPhil, Management Science, Graduate School of Business, Columbia University
Journal Articles
(2024). Why stock analysts may make wrong predictions?. Economics Letters, 244.
(2022). Predicting Security Returns in the Presence of Upper Price Limits. Theoretical Economics Letters, 12(5). 1280-1287.
Harel, A., & Harpaz, G. (2021). "Forecasting stock prices". International Review of Economics and Finance, 73(May). 249-256.
Harel, A., & Harpaz, G. (2020). "Forecasting the S&P 500 Index with Circuit Breakers". Theoretical Economics Letters, 10(6). 1205-1212.
Harel, A., Francis, J. C., & Harpaz, G. (2018). "Alternative Utility Functions: Review, Analysis and Comparison". Review of Quantitative Finance and Accounting, 51(3). 785-811.
Harel, A., Harpaz, G., & Francis, J. C. (2016). "Market Efficiency: Is it Possible?". The International Journal of Finance, 28(1). 1-13.
Harel, A., Harpaz, G., & Francis, J. (2014). "Optimal Executive Compensation Schemes" . The International Journal of Finance , 26(1). 1-7.
(2011). "Analysis of Efficient Markets". Review of Quantitative Finance and Accounting, 36(2). 287-296..
Harel, A. (2011). "Convexity Results for the Erlang Delay and Loss Formulae When the Server Utilization Is Held Constant". Operations Research, 59(6). 1420-1426.
Harel, A. (2010). "Sharp and simple bounds for the Erlang delay and loss formulae". Queueing Systems, 64(2). 119-143.
Francis, J. C., Harel, A., & Harpaz, G. (2010). "Actuarially Fair Premia for Deductible Insurance Policies". American Economist, 55(2). 83-91.
Harel, A., Harpaz, G., & Yagil, J. (2010). "A New Paradigm for Forecasting Security Returns in a Market Regulated by Price Limits". Review of Quantitative Finance and Accounting, 35(1). 113-121.
(2009). "Exchange Mergers and Electronic Trading". The Journal of Trading, 4(1). 35-43.
Francis, J. C., Harel, A., & Harpaz, G. (2009). “Exchange Mergers and Electronic Trading”. The Journal of Trading, 4(1). 35-43.
Harel, A., Harpaz, G., & Francis, J. C. (2007). "Pricing Securities with Exchange-Imposed Price Limits Via Risk Neutral Valuation". International Journal of Theoretical & Applied Finance, 10(3). 399-406.
Harel, A., & Harpaz, G. (2007). "Fair Actuarial Values for Deductible Insurance Policies in the Presence of Parameter Uncertainty". International Journal of Theoretical & Applied Finance, 10(2). 389-397.
(2007). "Pricing Futures on Geometric Indexes: A Discrete Time Approach". Review of Quantitative Finance and Accounting, 28(3). 227-240.
(2006). "Security Markets with Price Limit: A Bayesian Approach". International Journal of Theoretical and Applied Finance, 9(3). 359-372.
(2006). "Forecasting Demand for Perishable Commodities and Services Under Capacity Constraint". Forecasting Letters, 1(1). 10-16.
(2005). "The Determinant of the Bank Loan Loss Ratios". Risk Letters, 1(2). 1-4.
(2005). "The Pricing of the CME$INDEX Futures Contracts". Risk Letters, 1(1). 1-5.
(2005). "Premium Computation for Deductible Insurance Policies: A Bayesian Approach". Finance Letters, 3(6). 1-7.
(2005). "Forecasting Futures Returns in the Presence of Price Limits". Journal of Futures Markets, 25(2). 199-210.
(2005). "Project Valuation with Time-Varying Cash Flows: A Bayesian Approach". Engineering Economist, 50(4). 337-359.
(2004). "A Bayesian Estimator for Time Varying Betas". Finance Letters, 2(3). 10-15.
(2004). "A Bayesian Estimator for Time Varying Betas". Finance Letters, 2(3). 10-15.
(2004). "The Valuation of Indexed Bonds". Finance Letters, 2(6). 1-7.
Harel, A., Namn, S., & Sturm, J. (1999). "Simple Bounds for Closed Queueing Networks". Queueing Systems, 31(1). 125-135.
Harel, A., Namn, S., & Sturm, J. (1999). "Migration of Zeros for Successive Derivatives of Entire Function". Proceedings of the American Mathematical Society, 127(2). 563-567.
Harel, A., & Chen, H. (1997). "Order Statistics Applications to Queueing and Scheduling Problems". Queueing Systems, 27(3,4). 325-350.
Harel, A., & Stulman, A. (1995). "Polling, Greedy and Horizon Servers on a Circle". Operations Research, 43(1). 177-186.
Harel, A. (1993). "Random Walk and the Area Below its Path". Mathematics of Operations Research, 18(3). 566-577.
Harel, A., & Stulman, A. (1991). "Phasing Out Inventory for a Continuously Demanded Commodity". Information Systems and Operational Research, 29(1). 38-43.
Harel, A. (1990). "Convexity Results for Single Server Queues and for Multiserver Queues with Constant Service Times". Journal of Applied Probability, 27(2). 465-468.
Harel, A. (1990). "Convexity properties of the Erlang Loss Formula". Operations Research, 38(3). 499-505.
Harel, A. (1990). "On Honest Bernoulli Excursions". Journal of Applied Probability, 27(2). 475-476.
Harel, A. (1988). "Sharp Bounds and Simple Approximations for the Erlang Delay and Loss Formulas". Management Science, 34(8). 959-972.
Harel, A. (1988). "Errantum to: Sharp Bounds and Simple Approximations for the Erlang Delay and Loss Formulas". Management Science, 34(10). 1277.
Harel, A., & Zipkin, P. (1987). "The Convexity of a General Performance measure for the Multi-Server Queues". Journal of Applied Probability, 24(3). 725-736.
Harel, A., & Zipkin, P. (1987). "Strong Convexity Results for Queueing Systems". Operations Research, 35(3). 405-418.
Other Scholarly Works
Harel, A. (2006). "Sequence A122525 in the On-Line Encyclopedia of Integer Sequences".
Harel, A. (2006). "Sequence A121922 in the On-Line Encyclopedia of Integer Sequences".
Research Currently in Progess
Harel, A.(n.d.). Some Properties of the Analytic Continuation of the Erlang Delay and Loss Formulas and Related Measures.
| Title | Funding Agency Sponsor | Start Date | End Date | Awarded Date | Total Funding | Status |
|---|---|---|---|---|---|---|
| Convexity results for the analytic continuation of the classical Erlang delay and loss formulae | PSC-CUNY 44 | 07/01/2013 | 06/30/2014 | 04/15/2013 | 5990 | Completed |
| Convexity Result for the Erlang Delay Formula and the Optimal Number of Servers | PSC-CUNY 41 | 07/01/2010 | 06/30/2011 | 3990 | Completed | |
| Bounds, Optimization and Approximation Results for the Erlang Delay and Loss Formulae | PSC-CUNY 38 | 07/01/2007 | 06/30/2008 | 4095 | Completed |
| Honor / Award | Organization Sponsor | Date Received | Description |
|---|---|---|---|
| Springer Author Service Award 2025 | 2025-05-29 | ||
| Springer Editorial Contribution Award 2025 | 2025-05-29 | ||
| Faculty Research & Creative Activities award for contributing to knowledge created in 2018. Baruch College, April 11, 2019. | Baruch College | 2019 | |
| Research award for publishing in premier journals | Zicklin School of Business | 2015 | $6,500 for publishing in premier journals. |
| Faculty Scholarship and Creative Achievement Award | Baruch College | 2012 | |
| Faculty Scholarship and Creative Achievement Award | Baruch College | 2011 | Recipient of award recognizing outstanding academic contributions by members of the Baruch College faculty during the year 2010. |
| Faculty Scholarship and Creative Achievement Award | Baruch College | 2010 | Recipient of award recognizing outstanding academic contributions by members of the Baruch College faculty during the year 2009. |
| Faculty Scholarship and Creative Achievement Award | Baruch College | 2008 | Recipient of award recognizing outstanding academic contributions by members of the Baruch College faculty during the year 2007. |
| Faculty Scholarship and Creative Achievement Award | Baruch College | 2007 | Recipient of award recognizing outstanding academic contributions by members of the Baruch College faculty during the year 2006. |
| Faculty Scholarship and Creative Achievement Award | Baruch College | 2006 | Recipient of award recognizing outstanding academic contributions by members of the Baruch College faculty during the year 2005. |
| Merit Awards | Rutgers University | 1991 | |
| Merit Awards | Rutgers University | 1990 | |
| Horace J. DePodwin Award | Rutgers University | 1988 | |
| Merit Awards | Rutgers University | 1988 | |
| Beta Gamma Sigma | Columbia University | 1985 | |
| Summa Cum Laude | Ben Gurion University | 1976 |
College
| Committee Name | Position Role | Start Date | End Date |
|---|---|---|---|
| MBA/MS Program Orientation | Faculty Advisor | Present | |
| Coordinator, Operations Research/Quantitative Methods Area | Faculty Advisor | Present | |
| Flex-Time orientation for new MBA/MS | Present | ||
| Flex-Time MBA/MS & APT Orientation | Present | ||
| College Academic Review Committee. | Committee Member | Present | |
| Alumni Reception | Present | ||
| Evaluation of the foreign transfer credits | Present | ||
| Evaluation of OPR courses for the Study Abroad Program | Present | ||
| Orientation for undergraduate students | Present | ||
| Zicklin Conversation | Present | ||
| Beta Gamma Sigma Honors and Recognition Ceremony | Present | ||
| Zicklin Representative to the Weissman School of Arts & Sciences | Representative | Present | |
| College Committee on Financial Aid | Committee Member | Present | |
| Information Sessions with MBA & MS students | Faculty Advisor | Present | |
| Committee on Research and Professional Development | Committee Member | Present | |
| Executive Committee | Committee Member | Present | |
| Graduate Curriculum Committee | Committee Member | Present | |
| Academic Advising for the graduate students in Quantitative Methods and Modeling. | Faculty Advisor | Present | |
| Classroom Observation for colleagues | Faculty Mentor | Present | |
| Committee on Financial Aid | Committee Member | Present | |
| College Academic Review Committee | Committee Member | Present | |
| Chair of the search committee for a Lecturer in Statistics, Fall 2023. | Committee Chair | 5/1/2023 | |
| Academic Advising for MBA students majoring in Decision Sciences | Faculty Advisor | 9/30/2018 | |
| Business Ethics Steering Committee | Committee Member | 8/1/2017 | |
| Secretary of the Faculty | 12/31/2016 | ||
| Committee on Library | Committee Member | 9/30/2016 | |
| Honors Program Admission Committee | Committee Member | 2/28/2015 | |
| Review of candidates for the Macaulay Honors College | 1/31/2015 | ||
| Interim Secretary of the Faculty | 8/28/2014 | ||
| Committee on Collegiate Athletic Activities | Committee Member | 8/31/2012 | |
| Secretary of the Faculty | 8/28/2010 | ||
| Committee on Research and Professional Development | Committee Chair | 9/30/2009 | |
| Chair, Committee on Collegiate Athletic Activities | Committee Chair | 8/31/2009 | |
| Committee on Academic Standing | Committee Member | 12/31/2008 | |
| Advisory Committee for the BCTC | Committee Member | 9/30/2008 | |
| Acting Coordinator, Quantitative Methods Area | Acting Coordinator | 1/31/2007 |
University
| Committee Name | Position Role | Start Date | End Date |
|---|---|---|---|
| CUNY Research Foundation | Present | ||
| CUNY Select Faculty Committee Teaching Panel | 4/1/2010 | Present | |
| Senator to the University Faculty Senate | Senator | 9/1/2025 | Present |
| Committee on Financial Aid | Committee Member | 8/28/2024 | Present |
| Senator to the University Faculty Senate | Senator | 9/1/2022 | Present |
| Taught Ph.D. students from the Graduate Center | Present | ||
| Senator to the University Faculty Senate | 9/1/2019 | 6/30/2022 | |
| Senator to the University Faculty Senate | 9/1/2016 | 6/30/2019 | |
| Senator to the University Faculty Senate | 9/1/2013 | 6/30/2016 | |
| Alternate Senator to the University Faculty Senate | 9/1/2009 | 6/30/2013 |
Professional
| Organization | Position Role | Organization State | Organization Country | Start Date | End Date | Audience |
|---|---|---|---|---|---|---|
| Queueing Models and Service Management (QMSM) | Editor, Associate Editor | 1/1/2016 | Present | International | ||
| International Journal of Tomography and Simulation (IJTS) | Editor, Associate Editor | 1/2/2006 | Present | International | ||
| Telecommunication Systems Journal (Springer) | Editor, Associate Editor | 6/1/2006 | Present | International | ||
| ORSA/TIMS National Meeting, Anaheim, CA | Session Chair | California | United States | 11/1/1991 | 11/30/1991 | International |
| ORSA/TIMS National Meeting, Philadelphia, PA | Session Chair | Pennsylvania | United States | 10/1/1990 | 10/31/1990 | International |
| ORSA/TIMS National Meeting, New York, New York | Session Chair | New York | United States | 10/1/1989 | 10/31/1989 | International |
| ORSA/TIMS National Meeting, Denver, Colorado | Session Chair | Colorado | United States | 10/1/1988 | 10/31/1988 | International |
| ORSA/TIMS National Meeting, St. Louis, Missouri | Session Chair | Missouri | United States | 10/1/1987 | 10/31/1987 | International |
| ORSA/TIMS National Meeting, New Orleans, Louisiana | Session Chair | Louisiana | United States | 5/1/1987 | 5/31/1987 | International |
| ORSA/TIMS National Meeting, Los Angeles, CA | Session Chair | California | United States | 4/1/1986 | 4/30/1986 | International |