Industrial Organisation and Economic Theory

The Department has a long history in Industrial Organisation going back to its establishment by the founding members, Philip Andrews and Elizabeth Brunner, early editors of the Journal of Industrial Economics. Their work was later sustained and expanded under the leadership of Robert Rothschild and, currently, under Dakshina De Silva.

The research conducted by members of this group spans several areas of industrial organisation and economic theory. One stream focuses on auctions and how bidding behavior is affected by strategic interactions of firms and policy changes. Another area of expertise involves environmental economics with an emphasis on the design of environmental markets and the impacts of international environmental agreements, as well as projects related to renewable energy, toxic-release firm locations, and effects of natural hazards on regional economic issues. Several members share an interest in various aspects of game theory (e.g. evolutionary game theory, psychological game theory, game theoretical analysis of fair division with application to bankruptcy problems, game theoretic approach to understand how institutions shape individuals and strategies in political parties, game-theoretical agency models applied to voting behaviour and public finance decisions). Another line of research has considered the effects of knowledge spill-overs on high-tech firm start-ups, growth and survival, as well as trying to understand the mechanisms meant to promote research and development and innovation. Finally, various projects focus on decision making under risk and ambiguity (e.g. dynamic choice under ambiguity, formation and updating of subjective beliefs, strategic interaction under ambiguity and their application to public policy).

Members of this group have published in leading general economics, industrial organization, environmental, and regional science journals as such as American Economic Review, Review of Economics and Statistics, European Economic Review, RAND Journal of Economics, Games and Economic Behavior, Journal of Public Economics, Journal of Economic Theory, Journal of Environmental Economics and Management, Journal of Industrial Economics, and Regional Science and Urban Economics. Members of the group have also edited special issues for Applied Economics and Labour Economics on topics related to environmental policy and management and sports economics. They have also organized conferences and workshops on topics related to Art, Auctions, Competition, Regulation, and Public Policy.

Potential PhD topics

The group would particularly welcome applications from well-qualified candidates interested in pursuing PhD study in any of the following areas: Applied and Theoretical Industrial Organisation, Game Theory, Spatial Economics, Political and Public Economics.