Klepper was the Arthur Arton Hamerschlag Professor of Economics and Social Science at Carnegie Mellon University (CMU) in Pittsburgh, Pennsylvania.

According to his colleagues, Klepper had a distinctive style of educating students in his introductory economics classes at Carnegie Mellon University.

Klepper was regarded at CMU as a "brilliant researcher whose work challenged generations of young economists and entrepreneurs to look beyond traditional assumptions.

[13] In 2015, Klepper's book, Experimental Capitalism: The Nanoeconomics of American High-Tech Industries ISBN 9780691169620 was published posthumously by Princeton University Press.

The couple moved to Pittsburgh when Klepper accepted a position with the Department of Social and Decision Sciences at Carnegie Mellon University, where he remained a member of the faculty until his death in 2013.