Professor L. Dean Hiebert joined the department in 1973, having just received his Ph.D. from the University of Wisconsin at Madison. His research on the microeconomics of uncertainty, public utility pricing, and insurance markets appears in numerous economics journals including the American Journal of Agricultural Economics, Journal of Industrial Economics, Southern Economic Journal, Journal of Comparative Economics and the Journal of Risk and Insurance.
Professor Hiebert has applied his microeconomic expertise to a variety of real world concerns, serving as a consultant to government agencies, public utilities, and utility consulting firms. He served, since its inception in 1998, as Co-director of the Institute for Regulatory Policy Studies bringing public policy makers, business leaders and academic experts together for workshops on topics of current policy concern.
Illinois State University students, both graduate and undergraduate, have recognized his effective teaching of economic theory and application. He has taught courses in microeconomic theory, managerial economics, and public utility economics. In retirement he plans to increase his stock of human capital in areas outside of economics.