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David Axelrod

Instructional Specialist, Economics

BA, Rutgers University
MA, Rutgers University
PhD, Rutgers University
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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.


  • Papers in progress: Of Utils and Hedons: Presence Weighted Present Value, Experience, Choice and Well-Being, Profit, Production and Paradigm
  • 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

Professional Experience

  • Consultant, Vovlo Finance (1996 - 2005)
  • Economist, Falcon Management, Wyckoff, NJ (2007 - 2012)
  • Adjunct Professor, Montclair State University (2013 - 2015)
  • Instructional Specialist, Montclair State University (2016 - Present)


  • Technical/Professional Work, Falcon Management. (February 2017 - Present). Ad Hoc Econometric Analysis - a mixture of economics and statistics, mostly of financial markets.

Refereed Published Articles

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

Published Proceedings

  • D. Axelrod (5s). 2019. Experiences, Choice, and Well-Being: An Economics of Pyschological Energy Research Association for Interdisciplinary Studies
  • D. Axelrod (5s). 2022. On the Obsolescence of Long Run Rationality Research Association for Interdisciplinary Studies
  • D. Axelrod, S. Mayer, C. Parker, Y. Wang (5s). 2023. Accounting for Taste: The Economic Art of Sustainability The Northeast Business & Economics Association
  • S. Mayer, D. Axelrod (5s). 2023. Beyond the Bottom Line: Integrating Sustainability into Accounting Practices for Comprehensive Success Northeast Business and Economics Association