"As I gradually learned, the action -all the learning and understanding- occurs in the pursuit of knowledge. The questions actually multiply faster than the answers, and that is the charm of education as a search process."

Vernon Smith

Discovery - A Memoir (2008)

Professor of Finance, emlyon business school

Research Associate, GATE LAB, CNRS & Economic Science Institute

Associated Editor: Journal of Economic Behavior & Organization

E-mail: bcorgnet@gmail.com

Research Website at Google Scholar and IDEAS.


Research Interests:

Organizational & Labor Economics: incentive theory, intrinsic motivation, automation and personnel economics.

Cognitive & Behavioral Economics: reciprocity, self-serving biases, dual-system models and neuroeconomics.

Behavioral & Corporate Finance: experimental asset markets, information aggregation, market efficiency, learning, financial literacy, bubbles and cognitive finance.

Experimental Methods: virtual firms, physio, neuro, online and field experiments.


Bio: I investigate questions related to Organizational & Labor Economics, Behavioral Finance and Cognitive Economics. My work in finance focuses on market design, financial literacy and the informational efficiency of markets. Recently, I have put most of my research effort into creating the field of "Cognitive Finance". I am also developing a computer software "Virtual Organization" (starting Dec. 2008) for the realization of research experiments as well as for teaching in disciplines ranging from Corporate Finance to Organizational Economics.


Some recent publications (all publications here):

“Forecasting Skills in Experimental Markets: Illusion or Reality?” (2021)

Management Science, In Press (with C. Deck, M. DeSantis and D. Porter)


“Information Aggregation and the Cognitive Make-Up of Traders,” (2021)

European Economic Review, In Press (with M. DeSantis and D. Porter)


“The Distribution of Information and the Price Efficiency of Markets,” (2020)

Journal of Economic Dynamics and Control, 110, 103671 (with M. DeSantis and D. Porter)


“Revisiting the Tradeoff Between Risk and Incentives: The Shocking Effect of Random Shocks,” (2019)

Management Science, 65(3), 955-1453 (with R. Hernán)


“What Makes a Good Trader? On the Role of Reflection and Intuition on Trader Performance,” (2018)

Journal of Finance, 73(3), 1113-1137 (with M. DeSantis and D. Porter)


“On the Merit of Equal Pay: When Influence Activities Interact with Incentive Setting” (2019)

European Economic Review, 113, 23-45 (with L. Martin, A. Sutan and P. Ndodjang)


“Goal Setting in the Principal-Agent Model: Weak Incentives for Strong Performance” (2018)

Games and Economic Behavior, 109, 311-326 (with J. Gomez-Minambres and R. Hernán)


“Goal Setting and Monetary Incentives: When Large Stakes Are Not Enough” (2015)

Management Science, 61 (12), 2926-2944 (with J. Gomez-Minambres and R. Hernán).


“Firing Threats and Tenure in Virtual Organizations: Incentives Effects and Impression Management” (2015)

Games and Economic Behavior, 91, 97–113 (with R. Hernán and S. Rassenti)


“The Effect of Earned vs. House Money on Price Bubble Formation in Experimental Asset Markets” (2015)

Review of Finance, 19, 1455-1488 (with R. Hernán, P. Kujal and D. Porter)


“Don’t Ask Me If You Will Not Listen: The Dilemma of Participative Decision Making” (2014)

Management Science, 60 560-585. (with R. Hernán)


“Reaction to Public Information in Markets: How much does Ambiguity Matter?” (2013)

Economic Journal, 6, 699-737. (with P. Kujal and D. Porter)

I am on the editorial board of the Journal of Economic Behavior & Organization since January 2022.


My research has recently been published in major journals including Journal of Finance, Management Science, Economic Journal, Review of Finance, European Economic Review, Games and Economic Behavior, Psychological Science, Journal of Economic Dynamics and Control, Journal of Economic Behavior and Organizations, Experimental Economics, Economic Inquiry, Journal of Economic and Management Strategy, Journal of Neuroscience, Elife, Frontiers in Behavioral Neuroscience...


My recent referee activity includes (among many others): Journal of Finance, Econometrica, NSF & ANR, Management Science, Economic Journal, Journal of Economic Theory, Games and Economic Behavior, Journal of European Economic Association, European Economic Review, Academy of Management Review...