Economic theory

We support the research and teaching strategy through high-quality publications and research-led teaching.

Research interests

Our research interests include:

  • choice under risk/uncertainty and applications of ambiguity preferences;
  • behavioural and experimental economics;
  • industrial organisation;
  • public economics and 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, poverty measurement and modern political economy. Reflecting the broad interests and interdisciplinary focus of the group.

We also contribute to publications in major economic journals, including:

  • American Economic Review;
  • European Economic Review;
  • Decisions in Economics and Finance;
  • Games and Economic Behavior;
  • Economic Behavior and Organisation;
  • Economic Dynamics and Control;
  • Mathematical Economics; and
  • Management Science. 


  • 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 on the Editorial Board of the Economic Theory Bulletin.

Economic Theory Group lead

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
  • 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
  • Chris Wallace - game theory and information
  • 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, the economics of crime and corruption, imperfect competition, oligopsony/oligopoly models, industrial organisation, the 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