School of Economics
Faculty of the Professions
Eligible to supervise Masters and PhD - email supervisor to discuss availability.
Paul joined the School in November 2012 and previously held positions at the Institute of Economic Analysis (CSIC, Barcelona), the University of Strasbourg and the University of New South Wales.
- My Research
- Grants and Funding
- Professional Activities
I am working in the fields of behavioural and experimental economics, applied game theory and industrial organisation with a focus on auction markets and market design issues. My research deals with the theoretical modelling and the experimental assessment of behaviour in:
- Single- and multi-unit auctions such as auctions for perishables, Treasury bonds, telecommunication licenses, real estate, oil fields, artwork, etc. I am particularly interested in understanding how people bid in such auctions, how can sellers improve their revenues, how to ensure an efficient allocation of goods, what type of information do buyers have about each other or about the commodities that are ‘on the block’ and how does it affect their behaviour, the formation of prices and/or the seller’s revenue.
- Congestion games such as ‘market-entry’ games and the ‘El Farol’ bar problem.
- Oligopoly markets such as the market for electricity, the effects of forward contracting and the conditions under which collusive-type of behaviours are likely to be observed.
- Groups such as firms which may have a vertical or a horizontal organisational structure, and how their structure affects ethical behaviour.
- Alternating-offer bargaining type of situations and takeover games.
- Unspecified environments which call for a trade-off between the exploration and the exploitation of possible alternatives and pattern-learning.
Date Position Institution name 2004 - 2010 Associate Professor University of Strasbourg 2000 - 2004 Research Officer Consejo Superior de Inverstigaciones Cientificas (CSIC) 1999 - 2000 Fellow of the EU ENDEAR Program Pompeu Fabra University 1998 - 1999 Fellow of the EU ENDEAR Program University of Bonn 1995 - 1998 Lecturer University of New South Wales
Awards and Achievements
Date Type Title Institution Name Country Amount 2010 Award Excellence in Refereeing Award American Economic Review United States — 2009 Research Award Prime d’Excellence Scientifique Conseil National des Universites France —
Language Competency English Can read, write, speak, understand spoken and peer review French Can read, write, speak, understand spoken and peer review
Date Institution name Country Title — University of Strasbourg France Habilitation — European University Institute Italy PhD in Economics — Aix-Marseille University (GREQAM) France Diplôme d’Etudes Approfondies (Economie Mathematique et Econometrie) — Aix-Marseille University France Magistère Ingénieur-Economiste
Year Citation 2019 Pezanis-Christou, P., & Wu, H. (2019). Rationalizing (Non-)Equilibrium Bidding in Maximum-Value Auctions Without Beliefs About Others’ Behavior. 2019 Guth, W., & Pezanis-Christou, P. (2019). An Indirect Evolutionary Justification of Risk Neutral Bidding in Fair Division Games. 2018 Hanaki, N., Kirman, A., & Pezanis-Christou, P. (2018). Observational and reinforcement pattern learning: An exploratory study. European Economic Review, 104, 1-21.
2018 Kirman, A. P., Laisney, F., & Pezanis-Christou, P. (2018). Exploration vs Exploitation, Impulse Balance Equilibrium, and a Specification Test for the El Farol Bar Problem. ZEW - Centre for European Economic Research Discussion Paper, (18). 2015 Guth, W., & Pezanis-Christou, P. (2015). Believing in correlated types in spite of independence: an indirect evolutionary analysis. Economics Letters, 134, 1-3.
2012 Dittrich, D., Guth, W., Kocher, M., & Pezanis-Christou, P. (2012). Loss aversion and learning to bid. Economica, 79(314), 226-257.
2010 Ellman, M., & Pezanis-Christou, P. (2010). Organizational structure, communication, and group ethics. The American Economic Review, 100(5), 2478-2491.
2008 Brandts, J., Pezanis-Christou, P., & Schram, A. (2008). Competition with forward contracts: a laboratory analysis motivated by electricity market design. Economic Journal, 118(525), 192-214.
2007 Neugebauer, T., & Pezanis-Christou, P. (2007). Bidding behavior at sequential first-price auctions with(out) supply uncertainty: A laboratory analysis. Journal of Economic Behavior & Organization, 63(1), 55-72.
2006 Abbink, K., Brandts, J., & Pezanis-Christou, P. (2006). Auctions for government securities: A laboratory comparison of uniform, discriminatory and Spanish designs. Journal of Economic Behavior & Organization, 61(2), 284-303.
2005 Pezanis-Christou, P., Abbink, K., Irlenbusch, B., Rockenbach, B., Sadrieh, A., & Selten, R. (2005). An experimental test of design alternatives for the British 3G/UMTS auction. European Economic Review, 49(2), 505-530. 2002 Pezanis-Christou, P. (2002). On the impact of low-balling: Experimental results in asymmetric auctions. International Journal of Game Theory, 31(1), 69-89. 2000 Pezanis-Christou, P. (2000). Sequential Descending-Price Auctions with Asymmetric Buyers: Evidence from a Fish Market. 1999 Kemp, M. C., & Pezanis-Christou, P. (1999). Pareto's Compensation Principle. Social Choice and Welfare, 16(3).
Year Citation 2013 Pezanis-Christou, P. (2013). Asymmetric information in multiple-object first-price auctions. In 12th Louis-Andre Gerard-Varet Conference (pp. 1-26). France.
Year Citation 2019 Pezanis-Christou, P., & Wu, H. (2019). A Non-Game-Theoretic Approach to Bidding in First-Price and All-Pay Auctions. 2018 Kirman, A. P., Laisney, F., & Pezanis-Christou, P. (2018). Exploration vs Exploitation, Impulse Balance Equilibrium, and a Specification Test for the El Farol Bar Problem. 2017 Pezanis-Christou, P., & Wu, H. (2017). A naive approach to bidding. 2017 Conte, A., Guth, W., & Pezanis-Christou, P. (2017). More money or more certainty? Behaviour in stochastic alternating-offer experiments. 2017 Pezanis-Christou, P. (2017). An evolutionary analysis of bidding behaviour in fair division games. 2016 Hanaki, N., Kirman, A. P., & Pezanis‐Christou, P. (2016). Counter Intuitive Learning: An Exploratory Study. 2016 Pezanis-Christou, P., & Romeu, A. (2016). Structural analysis of first-price auction data: insights from the laboratory. 2013 Pezanis-Christou, P. (2013). Asymmetric multiple object first-price auctions.
Since 2013, I have taught:
- Advanced Economic Analysis (2nd year)
- Industrial Organization (3rd year)
- Microeconomic Theory IV and V (Honours, Master and MPhil)
Current Higher Degree by Research Supervision (University of Adelaide)
Date Role Research Topic Program Degree Type Student Load Student Name 2019 Co-Supervisor Learning to bid with ambiguity in valuation distribution: an experiment Doctor of Philosophy Doctorate Full Time Miss Rui Zhang 2019 Co-Supervisor Ambiguity and Decision Making: Efficacy of Deterrence Incentives Master of Philosophy Master Part Time Ms Mia Katina Tam 2014 Co-Supervisor Selling Methods in Auction Market Doctor of Philosophy Doctorate Full Time Miss Qin Wu
Past Higher Degree by Research Supervision (University of Adelaide)
Date Role Research Topic Program Degree Type Student Load Student Name 2013 - 2018 Principal Supervisor Three essays on first-price auctions with independent private values Doctor of Philosophy Doctorate Full Time Miss Ye Han 2012 - 2017 Co-Supervisor Three Essays on Experimental Economics Doctor of Philosophy Doctorate Full Time Dr Sookie Zhang
Date Role Membership Country 2017 - ongoing Member Royal Economic Society United Kingdom 2017 - ongoing Member Econometric Society United States 2013 - ongoing Member Centre for Policy and Market Design Australia 2013 - ongoing Member American Economic Association United States 2000 - ongoing Member Economic Science Association —
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