Dr Kim KaivantoLecturer
Director of MSc Money, Banking & Finance,LUMS Research Ethics Committee (member),LUMS Enterprise, Engagement and Impact Committee (member)
2010 EPSRC ‘TEDDI’ project,2008 Joule Centre award joint with LEC, 2007 LU Grant for ‘The Role of Alternation Bias in Paradoxes of Judgment and Perception’.
Econ 325 Advanced Microeconomic Theory, Econ 400 Topics in Economics (A), Econ 412/452 Behavioural Finance
Decision making under risk and uncertainty; the valuation, investment decision and financing of innovation- and R&D-intensive projects; corporate finance; generalised royalty-based instruments (sales contingent claims); technology policy; particular interest in the civil aerospace industry, the air transport industry, and the finance industry.
Kim Kaivanto holds the post of Lecturer in Economics. He also holds the administrative role of Director of the MSc in Money, Banking and Finance. Prior to joining LUMS, Kim held research fellowships at the Eitan Berglas School of Economics and Warwick Business School.
Kim's research issues from a core interest in theoretical and descriptive models of decision making and behaviour under risk and uncertainty. This is then carried through into and applied to more specific financial and investment problem settings: e.g. the efficiency gain in relationship lending as a real option quantifying informational rents; optimal exercise policies for relationship lenders' sequences of information-based real options and the formalisation of long-termism and short-termism; Knightian uncertainty in aggregate-level beliefs (syndicate surrogate functions and compound market beliefs); risk-spreading performance of royalty contracts relative to empirical dividend policies; incomplete markets and the financing of R&D investment; and incomplete markets and the economic criteria for 'subsidy' (the opportunity cost of capital in the subsidy-criteria employed by the WTO and the EU). Kim has a substantive interest in the special problems and issues associated with the financing and valuation of R&D as well as in the governmental R&D support schemes formally intended to alleviate these problems. Kim has studied these problems in the specific context of civil aerospace R&D and the associated UK government-administered Launch Aid support scheme. Kim has worked on a diverse range of research and consultancy projects, including such special topics such as venture capital, the exploitation of social science research, and airport slot allocation rulings.
In and out of work, Kim finds personal satisfaction and enjoyment in facing diverse challenges, seeking limits, and finding solutions to problems.
Office HoursMichaelmas: Thu 9:00--10:00; Lent: Thu 10:00--11:00
The effect of decentralized behavioral decision making on system-level risk
Kaivanto, K. 2014 In: Risk Analysis. 22 p.
Bias-trigger manipulation and task-form understanding in Monty Hall
Kaivanto, K., Kroll, E.B., Zabinski, M. 2014 In: Economics Bulletin. 34, 1, p. 89-98. 10 p.
Negative recency, randomization device choice, and reduction of compound lotteries
Kaivanto, K., Kroll, E.B. 05/2012 In: Economics Letters. 115, 2, p. 263-267. 5 p.
Maximization of the sum of sensitivity and specificity as a diagnostic cutpoint criterion
Kaivanto, K. 2008 In: Journal of Clinical Epidemiology. 61, 5, p. 517-518. 2 p.
Alternation Bias and the Parameterization of Cumulative Prospect Theory
Kaivanto, K. 2008 In: Advances in Decision Making Under Risk and Uncertainty, Theory and Decision Library C 42. Berlin : Springer-Verglag p. 91-107. 17 p. ISBN: 978-3-540-68436-7.
Trade-related job loss, wage insurance and externalities: an ex ante efficiency rationale for wage insurance
Kaivanto, K. 2007 In: The World Economy. 30, 6, p. 962-971. 10 p.
Public provision of sales contingent claims backed finance to SMEs: A policy alternative
Kaivanto, K., Stoneman, P. 2007 In: Research Policy. 36, 5, p. 637-651. 15 p.
Premise and practice of UK launch aid
Kaivanto, K. 2006 In: Journal of World Trade. 40, 3, p. 495-525. 31 p.
Informational rent, publicly-known firm type, and ‘closeness’ in relationship finance
Kaivanto, K. 2006 In: Economics Letters. 91, 3, p. 430-435. 6 p.
Spin-offs, externalities, and the economic justification of public expenditure on R"&"D
Kaivanto, K. 2005 In: ICFAI Journal of Public Finance. 3, 4, p. 8-34. 27 p.
Book Review: Julian Le Grand - 2003 Motivation, Agency and Public Policy: Of Knights and Knaves, Pawns and Queens, OUP, Oxford
Kaivanto, K. 2005 In: Education Economics. 13, 1, p. 125-131. 7 p.
Risk shifting, technology policy and sales contingent claims: when is Launch Aid to the aerospace industry a subsidy?
Kaivanto, K., Stoneman, P. 2004 London : Centre for Economic Policy Research.
BA/AA Slots and their Reallocation: EU ruling stirs debate
Kaivanto, K. 1998 In: Avmark Aviation Economist. 15, 8, p. 2-6. 5 p.
An alternative model of pro-cyclical absenteeism
Kaivanto, K. 1997 In: Economics Letters. 54, 1, p. 29-34. 6 p.
Investigating end-of-course questionnaire data with a view to evaluation: the case of NIVA's international courses
Kaivanto, K., Moneta, G.B., Ahonen, G. 1995 In: Testing Psicometria Metodologia. 2, 1, p. 19-33. 15 p.
Isokinetic performance in low back pain patients: the predictive power of the self-efficacy scale
Kaivanto, K., Estlander, A., Moneta, G.B., Vanharanta, H. 1995 In: Journal of Occupational Rehabilitation. 5, 2, p. 19-33. 15 p.
The effects of anthropometric variables, self-efficacy beliefs, and pain and disability ratings on the isokinetic performance of low back pain patients
Estlander, A., Vanharanta, H., Moneta, G.B., Kaivanto, K. 1994 In: Spine. 19, 8, p. 941-947. 7 p.
Reported pain during lumbar discography as a function of annular ruptures and disc degeneration: a re-analysis of 833 discograms
Moneta, G.B., Videman, T., Kaivanto, K., Aprill, C., Spivey, M., Vanharanta, H., Sachs, B.L., Guyer, R.D., Hochsculer, S.H., Raschbaum, R.F., Mooney, V. 1994 In: Spine. 19, 17, p. 1968-1974. 7 p.
Seasonal variation in neck and shoulder symptoms
Takala, E.P., Viikari-Juntura, E., Moneta, G.B., Saarenmaa, K., Kaivanto, K. 1992 In: Scandinavian Journal of Work, Environment and Health. 18, p. 257-261. 5 p.
Niska-Hartiavaivojen kulku pankkityössä
Takala, E.P., Viikari-Juntura, E., Moneta, G.B., Saarenmaa, K., Kaivanto, K., Hagman, A. 1992 In: Työ ja Ilminen (Work and the Human Being). 6, p. 260-268. 9 p.
Informing Energy Choices Using Ubiquitous Sensing
Dr Kim Kaivanto, Dr Adrian Friday
18/01/11 → 28/06/13
Kim Kaivanto supervises 1 research student in total. Those who have a profile on the University website are listed below: