Plater graduated from The Phillips Exeter Academy in 1974. He received his A.B. in Economics from Harvard University in 1979. In 1982, he earned an MBA from The Wharton School, University of Pennsylvania with a concentration in Entrepreneurship. After receiving his MBA, he spent four years working in the Strategic Planning division of Standard Oil of Ohio. He received his Ph.D. in 1993 and joined the faculty of the College of Business at the University of Florida. He currently teaches courses on Business Policy, Entrepreneurship and Business History at the University of Florida.