Prof. Todd Kaplan


Department of Economics

University of Haifa

Tel: 972-4 824 -9589


Department of Economics

University of Exeter

Tel: 44-1392-263237

Fax: 1-530-871-6103

Research Interests

  • Economic Theory, Industrial Organization, Experimental Economics


  • Ph.D, Economics, University of Minnesota, 1996.

  • M.A., Economics, University of Minnesota, 1991.

  • B.S., Engineering, California Institute of Technology, 1989.

Editorial Positions

Associate Editor of Journal of Behavioral and Experimental Economics from 2016.

Handbook Chapter

  • "Advances in Auctions," (with Shmuel Zamir). Handbook of Game Theory, Volume 4, 2014. [PDF]

Journal Publications

  • "Two Stage Contests with Preferences over Style," (with David Wettstein), Economic Theory, in press .

  • "Manipulation and (mis)trust in Prediction Markets ," (with Lawrence Choo and Ro'i Zultan), Management Science, in press.

  • "Should regulators always be transparent? A bank run experiment ," (with Surajeet Chakravarty, Lawrence Choo, and Miguel Fonseca), European Economic Review, in press .

  • "Why Do Investment Banks Buy Put Options from Companies?," (with Stanley Gyoshev, Samuel Szewczyk, and George Tsetsekos), Journal of Corporate Finance, 2021 Full text.

  • "Auctions with Leaks about Early Bids: Analysis and Experimental Behavior," (with Sven, Fischer, Werner Guth, and Ro'i Zultan), Economic Inquiry, 2021, Full text.

  • "Information Aggregation in Arrow-Debreu Markets: an Experiment," (with Lawrence Choo and Ro'i Zultan), Experimental Economics, 2019, Full text.

  • "Cooperation through Coordination in Two Stages," (with Bradley Ruffle and Ze'ev Shtudiner), Journal of Economic Behavior and Organization, 2018, Full text.

  • "When Costly Voting is Beneficial," (with Surajeet Chakravarty and Gareth Myles), Journal of Public Economics , 2018, Full text.

  • "Decision Making with Risk-Based Weather Warnings". (with Di Mu and Rutger Dankers), International Journal of Disaster Risk Reduction, 2018, 30, Part A, 59-73. Full text. DOI.

  • "Protection in Government Procurement Auctions," (with Matt Cole and Ron Davies). Journal of International Economics, 2017, 106, 134-142. Abstract. Full text. DOI.

  • "The Optimal Design of Rewards in Contests," (with David Wettstein). Review of Economic Design, December 2015, 19 (4) 327-339 [PDF]

  • "A Simple Bargaining Mechanism that Elicits Truthful Reservation Prices," (with Steve Brams and Marc Kilgour). Group Decision and Negotiation, May 2015, 24 (3) 401-413. [PDF]

  • "Multiple equilibria in asymmetric first-price auctions," (with Shmuel Zamir). Economic Theory Bulletin, April 2015, 3 (1) 65-77. [PDF]

  • "Communication of uncertainty in weather forecasts," (with Pricilla Marimo, Ken Mylne and Martin Sharpe). Weather and Forecasting, February 2015, 30 (1) 5-22 [PDF]

  • "An Experiment on the Causes of Bank Run Contagions," (with Surajeet Chakravarty and Miguel Fonseca). European Economic Review, November 2014, 72, 29-51.. [PDF]

  • "Egocentric framing :One way people may fail in a switch dilemma: Evidence from excessive lane switching," (with David Navon and Ronen Kasten). Acta Psychologica, November 2013, 144, 604-616. [PDF] [audioslides]

  • "The Peer Effect of Jose Canseco A Reply to J. C. Bradbury," (with Eric Gould). Economic Journal Watch, January 2013 10(1), 70-86. [PDF]

  • "Optimal Allocation Without Transfer Payments," (with Surajeet Chakravarty). Games and Economic Behavior, 77 (1), January 2013, 1-20. [PDF]

  • "Which Way to Cooperate," (with Bradley Ruffle). Economic Journal, 122(563), 2012, 1042-1068. [PDF]

  • "Communication of Preferences in Contests for Contracts," Economic Theory, 51(2), October 2012, 487-503 [PDF]

  • "A Simple Economic Teaching Experiment on the Hold-Up Problem," (with Dieter Balkenborg and Tim Miller) Journal of Economic Education, 43(4), October 2012, 377-385. [PDF]

  • "Asymmetric First-Price Auctions with Uniform Distributions: Analytic Solutions to the General Case," (with Shmuel Zamir) Economic Theory, 2012 50(2), 269-302. Lead article. [PDF]

  • "Learning Unethical Practices from a Co-worker: The Peer Effect of Jose Canseco," (with Eric Gould). Labour Economics, 2011 18, 338-348. [PDF]

  • "Teaching Bank Runs with Classroom Experiments," (with Dieter Balkenborg and Tim Miller) Journal of Economic Education, 2011 42(3), 224-242. [PDF]

  • "Influence of aggregation and measurement scale on ranking a compromise alternative in AHP," (with Alessio Ishizaka and Dieter Balkenborg) Journal of the Operational Research Society, (2011) 62, 700-710. [PDF]

  • "Does AHP help us make a choice?-An experimental evaluation," (with Alessio Ishizaka and Dieter Balkenborg) Journal of the Operational Research Society, 2011, 62(10), 1801-1812. [PDF]

  • "Using Economic Classroom Experiments," (with Dieter Balkenborg) International Review of Economics Education, November 2010, 9(2): 99-106. [PDF]

  • "Vote or Shout," (with Surajeet Chakravarty) The B.E. Journal of Theoretical Economics, September 2010, vol. 10(1). [PDF]

  • "Effective Contests," (with Aner Sela) Economics Letters, January 2010, 106 (1): 38-41. [PDF]

  • "A Laboratory-Based Study of Understanding of Uncertainty in 5-Day Site-Specific Temperature Forecasts," (with Mark Roulston) Meteorological Applications, June 2009 16 (2): 237-244. [PDF]

  • "In Search of Welfare-Improving Gifts," (with Bradley Ruffle) European Economics Review, May 2009 53 (4): 445-460. [PDF]

  • "Optimal Rewards in Contests," (with Aner Sela and Chen Cohen) RAND Journal of Economics, Summer 2008 39 (2), 434-451. [PDF]

  • "Caps on Political Lobbying: Comment," (with David Wettstein) American Economic Review, 2006, 96, pages 1351-1354 [PDF]

  • "Why Banks Should Keep Secrets," Economic Theory , February 2006 27, 341-357 [PDF]

  • "Dividing the Indivisible: Procedures for Allocating Cabinet Ministries to Political Parties in a Parliamentary," Journal of Theoretical Politics (with Steven Brams), 2004 16 (2):143-173. [PDF]

  • "The Self-Serving Biases and Beliefs about Rationality," Economic Inquiry (with Bradley Ruffle), April 2004 42 (2):237-246. [PDF]

  • "Innovative Activity with Sunk Cost," (with David Wettstein and Israel Luski) International Journal of Industrial Organization , October 2003 21: 1111-1133 [PDF]

  • "Government Policy towards Multi-National Corporations," Economics Bulletin, (with Israel Luski and David Wettstein) May 2003 6 (3): 1-8. [PDF]

  • "All-Pay Auctions with Variable Rewards" (with Luski, Sela, Wettstein) Journal of Industrial Economics, December 2002 L (4): 417-430 [PDF]

  • "Effective Price-Matching" International Journal of Industrial Organization, December 2000. [PDF]

  • "Surplus Sharing with a Two-Stage Mechanism" (with David Wettstein). International Economic Review, May 2000 41(2):399-409. [PDF]

  • "The Possibility of Mixed-Strategy Equilibria with Constant-Returns-to-Scale Technology under Bertrand Competition" (with David Wettstein). Spanish Economic Review, March 2000 2(1):65-71. [PDF]

  • "Cost Sharing: Efficiency and Implementation" (with David Wettstein). Journal of Mathematical Economics, December 1999 32(4):489-502. [PDF]

  • "Self-Serving Bias [Comment]" (with Bradley Ruffle). Journal of Economic Perspectives, Spring 1998 12(2):243-244. [Extended version PDF]

  • "A Program for Finding Nash Equilibria" (with John Dickhaut). The Mathematica Journal, Fall 1992 1(4):87-93. [PDF] [Program] [Updated for 3 players] [Mathematica Demonstrations (cool!)]

Collective Works

  • "Designing an Incentive-Compatible Contract" (with Arijit Mukherji) in Economic and Financial Modeling with Mathematica, Editor: Hal Varian, Springer-Verlag, 1993.

  • "A Program for Finding Nash Equilibria" (with John Dickhaut) in Economic and Financial Modeling with Mathematica, Editor: Hal Varian, Springer-Verlag, 1993.


  • Information Aggregation in Arrow-Debreu Markets: An Experiment. Research Outreach, March 2020. Link

  • Risk of a run on Deutsche Bank is real – even if its financials look fine. The Conversation, October 2016. Link.

  • When The Wisdom Of Crowds Is Wrong, Huffington Post, The Blog, November 2016. Link


  • The Strategic Use of Seller Information in Private-Value Auctions (with Shmuel Zamir). [PDF]

  • Revenue Effects of Asymmetry in Auctions (with Shmuel Zamir) [PDF]

  • Delegated Job Design (with Hans Hvide) [PDF]

  • Auctions with Private Entry Costs (with Aner Sela) [PDF]


  • I wish to thank various foundations for their generous support of my work, including iFree, Nuffield, Leverhulme, ESRC, HEFCE, British Academy, and Israeli Science Foundation.

I wish to thank Tim Pestridge for taking the photo (I highly recommend him).