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Journal Articles


Elicitation of Preferences under Ambiguity [with Enrica Carbone and Xuequ Dong], Journal of Risk and Uncertainty, on-line 2017, http://rdcu.be/tpmt


When and How to Satisfice: an Experimental Investigation [with Yudistira Permana and Nuttaporn Rochanahastin], Theory and Decision, on-line 2017, http://rdcu.be/rEmB


Expected Utility Theory with Imprecise Probability Perception: Explaining Preference Reversals [with Oben Bayrak], Applied Economics Letters, on-line 2016,

doi: http://dx.doi.org/10.1080/13504851.2016.1240332.


Does Money Impede Convergence? [with Daniela Di Cagno], Experimental Economics, on-line 2015, doi10.1007/s10683-015-9456-x.


My Experimental Meanderings, Theory and Decision, 77, 291-296, 2014, doi:10.1007/s11238-014-9464-x.


What Price Compromise? [with John Bone and John Suckling],Theory and Decision, 77, 359-376,2014, doi:10.1007/s11238-014-9465-9.

Changes in Individual and/or Aggregate?[with Noemi Pace], Applied Economics Letters, 2014, doi: 10.1080/13504851.2014.931917.


The Explanatory and Predictive Power of Non Two-Stage-Probability Models of Decision Making Under Ambiguity [with Noemi Pace]Journal of Risk and Uncertainty, 2014, 49, 1-29, doi:10.1007/s11166-014-9198-8.

Choice Under Uncertainty: Empirical Methods and Experimental Results, In: Mark J. Machina, W. Kip Viscusi, editors: Handbook of the Economics of 
Risk and Uncertainty
, Vol. 1, Oxford: North Holland, 2014, pp. 809-850, ISBN. 978-0-444536853.

Do past decisions influence future decisions? [with Wenting Zhou],
Applied Economics Letters, 21:3, 152-157, 2013.

Assessing Multiple Prior Models of Behaviour Under Ambiguity [with Anna Conte], Journal of Risk and Uncertainty, 46, 113-132, 2013, doi:10.1007/s11166-013-9164-x.

On Choosing a Constitution (at least the part relating to the distribution of income) [with Carmen Pasca], Applied Economics Letters, 18, 1213-1217,2011.

Strategies in Dynamic Decision Making – An Experimental Investigation of the Rationality of Decision Behaviour [with Julia Knoll], Journal of Economic Psychology, 32, 399-409, 2011. 

An Experimental Analysis of ‘Genuine’English Auctions [with Ricardo Goncalves], Bulletin of Economic Research, 63, 313-352, 2011

Dynamic Decision Making: What do people do? [with Luca Panaccione],  Journal of Risk and Uncertainty, 42, 85-123, 2011.

Mixture Models of Choice Under Risk [with Anna Conte and Peter Moffatt], Journal of Econometrics, 162, 79–88, 2011.

Georges-Louis Leclerc de Buffon’s ‘Essays on Moral Arithmetic [with Tibor Neugabauer and Carmen Pasca], in The Selten School of Behavioral Economics, edited by Ockenfels A and Sadrieh A, Springer-Verlag Berlin Heidelberg, 2010.

Are Revealed Intentions Possible? [with Carmen Pasca], Review of Economics and Business Studies, 3, 73-92, 2010.

The Descriptive and Predictive Adequacy of Theories of Decision Making Under Uncertainty/Ambiguity [with Gianna Lotito and Anna Maffioletti], Journal of Risk and Uncertainty, 41, 81-111, 2010, doi:10.1007/s11166-010-9102-0.

Jekyll & Hyde [with Marie-Edith Bissey and Stefania Ottone], Applied Economics Letters, 17, 555-559, 2010.

An Experimental Analysis of Optimal Fisheries [with Tibor Neugabauer and Karim Sadrieh], Environmental and Resource Economics 44, 263-285, 2009, doi:10.1007/s10640-009-9285-5.

Noise and Bias in Eliciting Preferences [with Andrea Morone and Ulrich Schmidt], Journal of Risk and Uncertainty, 39, 213-235, 2009, doi:10.1007/s11166-009-9081-1.

Naïve, Resolute or Sophisticated? A Study of Dynamic Decision Making [with Gianna Lotito], Journal of Risk and Uncertainty, 38, 1-25, 2009, doi:10.1007/s11166-008-9058-5.

Do People Plan? [with John Bone and John Suckling], Experimental Economics, 12, 12 -25, 2009.

Guest Editor’s Introduction, Theory and Decision, 64 (2-3), March 2008, pp 103-108.

Exploring the experimental economics approach in pensions, DWP Working paper number 43, 2008.

How Far Ahead Do People Plan? [with Julia Knoll], Economic Letters, 96, 8-13, 2007.

Strategies vs Backward Induction in Dynamic Decision-making: An Experimental Investigation [with Massimo Paradiso], Manchester School, 74, 123-137, 2006.

I Teach Economics,Not Algebra and Calculus, Journal of Economics Education, 36, 292-304, 2005.

Why We Should Not Be Silent About Noise, Experimental Economics, 8, 325-345, 2005.

ComparingTheories: What Are We Looking For?,  Advances in Public Economics: Utility, Choice and Welfare – A Festschrift in Honour of Christian Seidl, Schmidt U. and Traub, S. (eds), Kluwer, 2005.

Do Subjects Separate (or Are They Sophisticated)? [with Jinkwon Lee], Experimental Economics, 8, 233-265, 2005.

Do People (Want to) Plan?, Scottish Journal of Political Economy, 52, 122-138, 2005.

Do Subjects Remember the Past? [with Jinkwon Lee], Applied Economics, 37, 9-18, 2005.

Are Preference Reversals Errors? An Experimental Investigation [with Ulrich Schmidt], Journal of Risk and Uncertainty, 29, 207-218, 2004.

Do Markets Drive out Lemmings (or Vice Versa)? [with Andrea Morone], Economica, 71, 637-659, 2004.

The Effect of Unemployment on Consumption: an Experimental Analysis [with Enrica Carbone], Economic Journal, 114, 2004, 660-683.

A Simple Risk Sharing Experiment [with John Bone and John Suckling], Journal of Risk and Uncertainty, 28, 23-38, 2004.

Do People Plan Ahead? [with John Bone and John Suckling], Applied Economics Letters, 10, 277-280, 2003.

Experimental Economics and the Theory of Decision Making Under Risk and Uncertainty, Geneva Papers on Risk and Insurance Theory, 27, 5-21, 2002.

Does Repetition Improve Consistency?, Experimental Economics, 4, 5-54, 2001.

A Test of the Principle of Optimality [with Enrica Carbone], Theory and Decision, 50, 263-281, 2001.

Two Experiments to Test a Model of Herd Behaviour [with Louise Allsopp], Experimental Economics, 3, 121-136, 2000.

Which Error Story is Best? [with Enrica Carbone],  Journal of Risk and Uncertainty, 20, 161-176, 2000.

Are Groups More (or Less) Consistent than Individuals? [with John Bone and John Suckling], Journal of Risk and Uncertainty, 8, 63-81, 1999.

Estimating (Risk) Preference Functionals Using Experimental Methods, chapter 5 of Luini, L. (ed), Uncertain Decisions: Bridging Theory and Experiments, Kluwer, 109-128, 1999.

Experimental Economics and Deception: Comment, Journal of Economic Psychology, 19, 397-401, 1998.

Sequential Markets: An Experimental Investigation of Clower’s Dual Decision Hypothesis [with Daniela Di Cagno], Experimental Economics, 1, 63-87, 1998.

Do Rational People Make Mistakes?, in Leinfellner W and Kohler E (eds), Game Theory, Experience, Rationality, Kluwer, 55-66, 1998.

An Application of Selten’s ‘Measure of Predictive Success’,  Mathematical Social Sciences,  35, 1-16, 1998.

Consumption with Flexible Preferences [with K Nakazawa], in  Economic and Environmental Risk and Uncertainty, Nau R, Gronn E, Machina M, Bergland O (eds), Theory and Decision Library, series B: Mathematical and Statistical Methods, 173-192.

Do Anglo-Saxons Free-Ride More? [with Roberto Burlando], Journal of Public Economics, 64, 41‑60, 1997.

Experiments and the Economics of Individual Decision Making under Risk and Uncertainty, Kreps D.M. and Wallis K.F. (eds), Advances in Economics and Econometrics: Theory and Applications, 1, 173-205, Cambridge University Press, 1997. (Paper presented by invitation at the World Congress of the Econometric Society, Tokyo, 1995.)

Stochastic Choice with Deterministic Preferences: An Experimental Investigation [with Enrica Carbone], Economics Letters, 47, 161-167, 1995.

Market Entry: An Experimental Investigation [with Cristina Pitasssi], Journal of Socio-Economics, 24, 21-49, 1995.

Experimental Investigations of Errors in Decision Making under Risk, European Economic Review,  39, 633-640, 1995.

A Comparison of the Estimates of EU and non-EU Preference Functionals [with Enrica Carbone], Geneva Papers on Risk and Insurance Theory, 20, 111-133, 1995.

Estimation of Expected Utility and Non-Expected Utility Preference   Functionals Using Complete Ranking Data [with Enrica Carbone], Munier B and Machina M J (eds), Models and Experiments on Risk and Rationality, Kluwer Academic Publishers, 119-139, 1994.

A Wider Perspective, Dickinson, D.G., Driscoll M J. and Sen S. (eds), Risk and  Uncertainty in Economics (Festchrift for Professor J.L. Ford) , Blackwell, 1994, 4-19.

Expectations Formation: Rational or Adaptive or ...?, Journal of Economic Behavior and Organization, 25, 329-344, 1994.

Risk and Uncertainty, chapter 12 of Hagemann H and Hamouda O F (eds), The Legacy of Sir John Hicks, Routledge, 1994, 187-199.              

Investigating Generalisations of Expected Utility Theory Using Experimental Data [with Chris Orme], Econometrica, vol 62 no 6, 1994, 1291-1326. (Reprinted in The International Library of Environmental Economics, Experiments in Environmental Economics, volumes 1 and 2, Shogren J.F. (ed).).

Experiments in Multi-Stage R & D Competition [with Patrizia Sbriglia], Empirical Economics, 19 291-316, 1994.

Discriminating Between Preference Functionals: A Preliminary Monte Carlo Study [with Enrica Carbone], Journal of Risk and Uncertainty, 8, 223-242, 1994.

Speculating Behavior in an Experimental Cash/Asset Portfolio [with David Ansic],  International Review of Economics and Finance, 2, 349-363, 1993.

New Experiments in Industrial Organisation, Empirica, 20, pp 81-99, 1993  (Reprinted  in Applied Industrial Organization, Aiginger K. and Finsinger J. (eds), Kluwer, 63-81, 1994).

L'incertezza in Economia, (Italian translation of ch 13 of Greenaway et al (eds), Companion to Contemporary Economic Thought, Routledge 1991), in Filippini L and Salanti A (eds), Rationalita Impresa E Informazione: Letture di Microeconomia,  G Giappichelli: Turin, 1993.

Dynamic Decision Making under Uncertainty: An Experimental Study of the Dynamic Competitive Firm, Oxford Economic Papers, 45, 58-82, 1993.

Testing Search Theory, Manchester School of Economic and Social Studies, 61, 82-94, 1993.

Rationality is as Rationality Does, chapter 2 of Gerrard W (ed), The Economics of  Rationality, Routledge, 6-21, 1993.

Experiments, Games and Economics [with Martin Reynolds], in Moss S and Rae J (eds),  Artificial Intelligence and Economic Analysis: Prospects and Problems, Edward Elgar, 81-115, 199      

Experiments in Economics - and Psychology, in Lea S E G, Webley P and Young B M (eds), New Directions in Economic Psychology: Theory, Experiment and Application, Edward Elgar, 85-98, 1992.

Experiments in Industrial Organisation, in Del Monte A (ed), Recent Developments in the Theory of Industrial Organisation, Macmillan 1992.

Uncertainty in Economics, chapter 13 of Greenaway et al (eds), Companion to  Contemporary Economic Thought, Routledge 1991.

La Sperimentazione Nel Campo Dell'Organizzazione Industriale, in Annali Di Storia  Dell'Impresa, Il Mulino (Fondazione Assi), 7, 7-29, 1991.

Insurance and Saving [with MariaTeresa Fiocca], Applied Financial Economics, 1, 35-42, 1991.

Coping with Dynamic Decision-Making in Economics, in Franz R, Singh H and Gerber J (eds), Handbook of Behavioural Economics, vol 2B, JAI Press, 295-307, 1991.

Circles and Triangles: An Experimental Estimation of Indifference Lines in the Marschak-Machina Triangle [with Daniela Di Cagno], Journal of Behavioral Decision Making, 3, 279-306, 1990.

A Pilot Experimental Study of the Dynamic Competitive Firm, Journal of Behavioral Economics, 19, 1-22 1990.

Il Prezzo del Batticuore: The Price of Heartbeats, (presented to a Galiani Conference, Chieti Italy  1987).  Published in the Conference Volume, 1989.

Estimation of Indifference Curves in the Marschak-Machina Triangle: A Direct Test of the Fanning-Out Hypothesis [with Elisabetta Strazzera]”, Journal of Behavioral Decision Making, 2, 239-260, 1989.

The Demand for Italian Health Insurance [with MariaTeresa Fiocca], Insurance: Mathematics and Economics, 8, 105-118 1989.

The Effect on the Italian Private Pension Market of Increased Uncertainty concerning Public Pension Provision [with MariaTeresa Fiocca], European Journal of Political Economy, 4, 491-516, 1988.

Reactions to Reactions and Conjectures about Conjectures [with Riccardo Martina], Scottish Journal of Political Economy, 35, 283-290, 1988.

A Preliminary Analysis of a Large-Scale Experimental Investigation into Consumption under Uncertainty [with Valentino Dardanoni], in Teitz R, Albers W and Selten R (eds), Bounded Rational Behavior in Experimental Games and Markets, Springer-Verlag Lecture Notes in Economics and Mathematical Systems, 314, 51-65, 1988.

A Test of the Original Version of Regret Theory [with Daniela Di Cagno], Journal of Behavioural Decision Making, 1, 43-56, 1988.

Optimal Consumption Under Uncertainty: An Experimental Investigation [with Valentino Dardanoni], Economic Journal, 98, 105-116, 1988.

A Pilot Experimental Investigation into Optimal Consumption under Uncertainty, in Maital S (ed), Applied Behavioral Economics, Wheatsheaf, 651-667, 1988.

Il Rischio in Economia: Un'Introduzione, Mezzogiorno d”Europa, 7, 355-365, 1987.

Experimental Economics: An Introduction [with David Butler], Empirica, 14, 157-186, 1987.

Experimental Investigations into Economic Behaviour under Uncertainty, in Munier B R et al (eds), Risk, Decision and Rationality, Reidel, 147-162, 1987.

Prospects for Mathematical Economic Psychology, in Earl P E, Economic Psychology: Development, Tensions, Prospects, Kluwer-Nijhoff, 85-99, 1987.

Motor Insurance in the UK: A Description and an Appraisal [with Brian Hey], The Geneva Papers on Risk and Insurance, 12, 26-229, 1987.

Experimental Investigation into Economic Behaviour under Uncertainty, Transactions of the Manchester Statistical Society, session 1986-87.

Still Searching, Journal of Economic Behavior and Organization, 8, 137-144, 1987.

The Economics of Insurance, Economic Review, 4, 28-31, 1987.

The Dynamic Competitive Firm under Spot Price Uncertainty, Manchester School, 60, 1-12, 1987.

Finance in the 1980s, BBC Domesday Disc, 1986, BBC Enterprises.

A Unified Theory of the Behaviour of Profit-Maximising, Labour-Managed and Joint-Stock Firms Operating under Uncertainty: A Rejoinder, Economic Journal, 95, 1095, 1985.

A Dynamic Theory of the Competitive Firm with a Forward Market, Journal of Economic Studies, 12, 21-35, 1985.

No Claim Bonus?, The Geneva Papers of Risk and Insurance, 12, 209-228, 1985.

The Possibility of Possibility, Journal of Economic Studies, 12, 70-88, 1985, http://www.emeraldinsight.com/journals.htm?articleid=1709359&show=abstract.  (Reprinted in Blaug M (General Editor), Pioneers in Economics Section IV: Joan Robinson (1903-1983) and George Shackle (1903-1992), Edward Elgar, 1992.)

Risk Aversion in Comparative Statics: Comment, American Economic Review, 75, 284-285, 1985.

Unshackling Economics, Scottish Journal of Political Economy, 31, 202-208, 1984.

Optimal Consumption when Income Follows a Markov Process, Bulletin of Economic Research, 36 109-118, 1984.

The Economics of Optimism and Pessimism, Kyklos, 37, 181-205, 1984.

Decision under Uncertainty, chapter 19 of Ploeg F van der (ed), Mathematical Methods in Economics, Wiley, 433-455, 1984.

Prevention and Cure?  Or is an ounce of protection worth a pound of cure? [with Mahesh Patel], Journal of Health Economics, 2, 119-138, 1983.

Whither Uncertainty?, Economic Journal, 129-139, 1983.

Towards Double Negative Economics, Wiseman, J (ed), Beyond Positive Economics, Macmillan, 1983, pp 160-175.

Optimal Consumer Search when Prices are Time-Dependent, Metroeconomica, 34, 97-122, 1982.

Search for Rules for Search, Journal of Economic Behavior and Organization, 3, 65-81, 1982.  (Reprinted in Earl P E (ed), Behavioural Economics, Edward Elgar.)

The Effect of Unemployment Insurance on the Riskiness of Occupational Choice [with Kostas Mavromaras], Journal of Public Economics, 16, 317-341, 1981.

Hedging and the Competitive Labour Managed Firm under Price Uncertainty, American Economic Review, 71, 753-757, 1981.

A Unified Theory of the Behaviour of Profit-Maximising, Labour-Managed and Joint-Stock Firms Operating Under Uncertainty, Economic Journal, 91, 364-374, 1981.

Are Optimal Search Rules Reasonable?  And Vice Versa?  And Does it Matter Anyway?, Journal of Economic Behavior and Organization, 2, 47-70, 1981.

Consumer Search with Uncertain Product Quality [with Chris McKenna], Journal of Political Economy, 89, 54-66, 1981.

Contract Theory, Temporary Layoffs and Unemployment, A Critical Assessment, Currie D A et al (eds), Microeconomic Analysis, Croom-Helm, 72-76, 1981.

Goodwill - Investment in the Intangible, Currie D A et al (eds), Microeconomic Analysis, Croom-Helm, 196-229, 1981.

Risk-Bearing in a Yugoslavian Labor-Managed Firm: Comment [with John Suckling], Oxford Economic Papers, 33, 170-173, 1981.

Relative Deprivation and the Gini Coefficient: Comment [with Peter Lambert], Quarterly Journal of Economics, 95, 567-573, 1980.

Optimal Consumption under Income Uncertainty: An Example and a Conjecture, Economics Letters, 5, 129-133, 1980.

On the Theory of the Competitive Labour-Managed Firm under Price Uncertainty: Comment [with John Suckling], Journal of Comparative Economics, 4, 338-341, 1980.

Labour-Managed Enterprise and Uncertainty: Comment [with John Suckling], Annals of Public and Cooperative Economy, 51, 321-325, 1980.

The Formulation of Macroeconomic Policy, chapter 10 of Grant R M And Shaw G K (eds), Current Issues in Economic Policy (2nd edition), Philip Allan, 1980.

Pricing in the Trade Cycle - A Quasicompetitive Model: Discussion, in Currie D A and Peters W (eds), Contemporary Economic Analysis vol 2, Croom-Helm, 1980.

Measuring Risk and Measuring Risk Aversion, Currie D A and Peters W (eds),  Contemporary Economic Analysis vol 2, Croom-Helm, 1980.

Attitudes to Risk [with Peter Lambert], Economics Letters, 2, 215-218, 1979.

A Simple Generalised Stopping Rule, Economics Letters, 2, 115-120, 1979.

To Move or Not To Move? [with Chris McKenna], Economica (NS), 46, 175-185, 1979.

A Note on Consumer Search and Consumer Surplus, Bulletin of Economic Research, 31, 61-66, 1979.

The Demand for Consumer Goods, Unit 6 of D222, Microeconomics, Open University, 1979.

The Empirical Investigation of Demand Relationships, Unit 5 of D222, Microeconomics, Open University, 1979.

On the Job Search and Quit Rates: Discussion, Artis M J and Nobay A R (eds), Studies in Modern Economic Analysis, Blackwell, 54-57, 1977.

Discussion of A Theory of Monetary Economics and its Application to the United Kingdom by Jenkins P T, Journal of the Institute of Actuaries, 102, 184-188, 1975.

Macroeconomic Policy: Formulation and Implementation, chapter 9 of Grant R M and Shaw G K (eds), Current Issues in Economic Policy,  Philip Allan, 1974.

Price Adjustment in an Atomistic Market, Journal of Economic Theory, 8, 483-499, 1974.

 

 

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