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Economic theory

Staff and students in the Manchester Economic Theory Group support and implement the economics department’s research and teaching strategy through high quality publications in top international journals and research-lead teaching in economic theory and applied microeconomic theory.

Our research interests include choice under risk/uncertainty and applications of ambiguity preferences, behavioural and experimental economics, industrial organisation, public economics, political economy, risk and insurance economics, game theory and applications, information economics, contracts, social choice, mechanism design, mathematical finance (in particular, evolutionary finance), random dynamical systems in economics and finance, evolutionary games, and stochastic models of economic equilibrium. Some research is at the boundary between economics and other disciplines, including mathematics, management science, poverty measurement and modern political economy, reflecting the broad interests and interdisciplinary focus of the MET group.

Over the years we have contributed to publications in major economic journals including: American Economic Review, Economic Journal, Economics Letters, Economic Theory, European Economic Review, Decisions in Economics and Finance, Games and Economic Behavior, Journal of Economic Behavior and Organization, Journal of Economic Dynamics and Control, Journal of Economic Theory, Journal of Mathematical Economics, Journal of Political Economy, Journal of Public Economics, Journal of Public Economic Theory, Journal of Risk and Insurance, Journal of Risk and Uncertainty, Labour Economics, Management Science, Public Choice, Social Choice and Welfare, Theoretical Economics.

Editorial duties: Economic Theory (Editor: Nicholas Yannelis; Associate Editor: Igor Evstigneev), Management Science (Associate Editors: Henry Chiu, Horst Zank)  Journal of Risk and Uncertainty (Advising Editor: Horst Zank), Theory and Decision (Coordinating Editor: Horst Zank).

Nicholas Yannelis is the Editor of the Economic Theory Bulletin.

Igor Evstigneev is a member of the Editorial Board of the Economic Theory Bulletin.

Regular presentations of our work and that of colleagues from other institutions take place in our weekly seminar series.

Economic Theory Group leads

Group members

  • Henry Chiu - foundations of risk preferences and applications, economic growth & economics of crime
  • Igor Evstigneev - mathematical economics and finance, behavioural and evolutionary finance, economic theory, random dynamical systems, stochastic optimisation and games
  • Omer Ehdan - game theory, evolutionary games and stochastic processes
  • Leonidas Koutsougeras - economic theory, general equilibrium, financial economics, asymmetric information, imperfect competition
  • Michal Krol - microeconomics, game theory, (behavioural) industrial organisation, experimental economics
  • Ayse Mermer - behavioural economics, experimental economics, game theory, industrial organisations
  • Dimitri Migrow – organisational economics, economics of information, contracts
  • Antonio Nicolò – mechanism design, social choice theory, political economy
  • Mario Pezzino - applied microeconomic theory, industrial organisation
  • Carlo Reggiani - industrial organisation, competition policy, microeconomics
  • Klaus Schenk-Hoppe – financial economics, financial markets and trading, computational economics and finance, dynamic economic theory, random dynamic systems theory
  • Alejandro Saporiti - microeconomic theory, political economy, social choice
  • Craig Webb - preference foundations, ambiguity preferences and applications, time preferences, game theory
  • Horst Zank - foundations for risk and time preferences, uncertainty and ambiguity, behavioural economics, experimental economics, game theory, welfare and poverty measurement

Associate members

  • Refik Emre Aytimur – political economy, industrial organisations, public economics, microeconomic theory
  • Indranil Dutta - development economics, poverty measurement, welfare and deprivation, corruption and conflict, political economy
  • Roger Hartley - economic theory, game theory, aggregative games, individual decision-making under risk
  • Paul Madden - public and welfare economics, economics of crime and corruption, imperfect competition, oligopsony/oligopoly models, industrial organisation, economics of professional sport
  • Nikhil Masters - behavioural/experimental economics with particular focus on the intersection between economics and psychology
  • Jacob Seifert – industrial organisations, competition policy, consumer policy, banking regulation, innovation
  • Nicholas Yannelis - general equilibrium analysis, economic theory, asymmetric information and ambiguity preferences

Current PhD students

  • Katarzyna Werner - non-expected utility and insurance markets
  • Esmaeil Babaei Khezerloo - mathematical behavioural finance
  • Sergei Belkov - mathematical behavioural finance
  • Tung Minh Lee - asymmetric information transmission
  • Jingyi Meng - behavioural economics
  • Lois Simanjuntak - microeconomic theory, social networks, industrial organisation
  • Waseem Toraubally - markets and general equilibrium models
  • Yizhi Wang - collective choice mechanisms
  • Fei Xu - optimal auction design and experimental economics
  • Atiyeh Yeganloo - reference-dependent preferences and experimental economics