Dr. David Axelrod

Instructional Specialist | Economics | Feliciano School of Business
Location: 539
Telephone: 973-655-3762
Email: axelrodd@montclair.edu


Dr. Axelrod received his Ph.D. in Economics from Rutgers University in 1990, with the dissertation Three Essays on Latency in Economics and Decision Making. He has taught at Montclair State University as an adjunct professor since 2013. Previously, he worked in finance for twenty years as an economist, consultant and actuarial analyst, including positions with Falcon Management, Volvo Finance, and Crum & Forster. He has also produced research in health economics, and the nature of choice and well-being. Dr. Axelrod provides holonomic consultation and workshops. He plays electric bass, and has released over a dozen albums of original music.


  • Ph D, Economics, 1990, Rutgers University, New Brunswick, NJ
  • BA, Statistics and Mathematics, 1984, Rutgers University, New Brunswick, NJ

Professional Experience

  • Instructional Specialist, Montclair State University. (September 2016 - Current).
  • Adjunct Professor, Montclair State University. (January 2013 - December 2015).
  • Economist, Falcon Management, Wyckoff, NJ. (2007 - 2012).
  • Consultant, Vovlo Finance. (February 1996 - August 2005).


  • Technical/Professional Work, Falcon Management, Wyckoff, NJ. ( - Present). Ad Hoc Econometric Analysis - a mixture of economics and statistics, mostly of financial markets.


  • I am currently writing a book on economics and spirituality. The core coherence is based on three key analogies: spirit and preferences, morality and internal constraints, and feasibility and external constraints. Experiences are considered the fundamental economic output. This implies that social, aesthetic, ethical, creative and self-expressive factors are essential both as resources and attributes of what economy produces
  • Papers in progress: Of Utils and Hedons: Presence Weighted Present Value, Experience, Choice and Well-Being, Profit, Production and Paradigm

Refereed Published Articles

  • Axelrod, D. (2021). How Chained-CPI Underestimates Inflation: Chained-CPI, Transition Costs, and Behavioral Economics. Journal of Business and Economics, Academic Star Publishing, 11 (7), pp. 753-762.
  • Axelrod, D. (2017). Optimizing Discount Rates: Expressing Preferences for Sustainable Outcomes in Present Value Calculations. Journal of Applied Business and Economics, 19 (1), pp. 9-19.

Published Proceedings

  • Axelrod, D. (2022). On the Obsolescence of Long Run Rationality. : Research Association for Interdisciplinary Studies. Refereed
  • Axelrod, D. (2019). Experiences, Choice, and Well-Being: An Economics of Pyschological Energy. : Research Association for Interdisciplinary Studies. Refereed