Ms Rubayat Sarwar
Higher Degree by Research Candidate
School of Economics
College of Business and Law
I am in the final year of my PhD in Economics at Adelaide University, supervised by Professor Ralph Christopher Bayer. Being trained in Behavioral Economics and Experimental Economics, I am trying to understand human behavioural factors, which can drive people overspending in gambling activities. I am in the current job market and actively looking for impactful roles.
Job Market Paper: Do People Gamble More if They Can Cash out? [PDF]
Innovative betting products, such as bets with cash-out options, have become increasingly popular. But would people still stake more money on cash-out bets than on non cash-out bets if both have the same ex-ante winning probability and return? In a laboratory experiment, we find higher betting stakes when cash-out options are available, despite fair pricing of bets and cash-out payments. This contradicts Expected Utility Theory, which predicts identical optimal stakes across both products. However, Rank Dependent Utility Theory with probability distortion can explain this deviation: state-contingent cash-out plans allow bettors to endogenously reshape the distribution of final wealth outcomes, making cash-out bets appear more valuable than equivalent non cash-out bets and encouraging greater risk-taking.
Working Paper: Do People Spend More on Multi-Bets?
Using laboratory experiment, this paper examines the effect of probability misjudgment and product-induced thrill in betting-decision making in multi-bets.
Work in Progress: Do People Believe They Know Better Than the Bookies?: Bettors' Curse
This experimental study explores how bettors overweigh their own beliefs relative to market information while making betting decisions.
| Date | Position | Institution name |
|---|---|---|
| 2025 - 2025 | Research Assistant | University of Adelaide |
| 2023 - ongoing | Teaching Assistant | University of Adelaide |
| 2022 - 2022 | Research Assistant | Monash University |
| 2018 - 2021 | Deputy Director | Bangladesh Bank (The Central Bank of Bangladesh) |
| 2015 - 2018 | Assistant Director | Bangladesh Bank (The Central Bank of Bangladesh) |
| Language | Competency |
|---|---|
| Bengali | Can read, write, speak, understand spoken and peer review |
| English | Can read, write, speak, understand spoken and peer review |
| Date | Institution name | Country | Title |
|---|---|---|---|
| 2022 | University of Adelaide | Australia | Doctor of Philosophy (Economics) |
| 2020 - 2021 | Flinders University | Australia | Master of Business (Finance) |
| Date | Title | Institution | Country |
|---|---|---|---|
| 2025 - 2025 | Incorporating Psychology into Economic Models by Prof. Matthew Rabin (Harvard) | Norwegian School of Economics | Norway |
| 2023 - 2023 | Coursework (PhD)-Microeconomic Theory IV, Macroeconomics IV, Econometrics IV, Public Economics IV, Economic Development IV, Behavioural Game Theory and Experiments IV | University of Adelaide | Australia |
| Date | Title | Institution name | Country |
|---|---|---|---|
| 2019 | Professional certificate- ‘Policy Analysis Course’ | National University of Singapore | Singapore |
| 2018 | Professional certificate- ‘Regional Economic Integration and ASEAN Experience’ | Asian Institute of Technology | Thailand |
| 2017 | Professional Course on banking management | National Institute of Bank Management | India |
2025-2026, HDR Research Grant, the University of Adelaide
2022, University of Adelaide Research Scholarship
2019, Australia Awards Scholarship, the Government of Australia
I have been working as a teaching assistant at Adelaide University since 2023.
Undergraduate:
Principles of Economics (S2 2023, S1 2024, S1 S2 2026)
Behavioural Economics (S1 2024)
Public Economics III (S2 2024)
Public Economics IV (S2 2024)
Development Economics (S1 2025)
Financial Economics (S1 2025)
Managerial Economics (S1 2025)
Postgraduate:
Economic Principles (S1 2024, S2 2025)
Cost-Benefit Analysis (S2 2024)
| Date | Role | Membership | Country |
|---|---|---|---|
| 2025 - ongoing | Member | Women in Economics Network | Australia |
| 2024 - ongoing | Member | Economic Society of Australia | Australia |
