Professor of Economics


email: john.gathergood at

personal assistant: melanie russell-smith

I am Professor of Economics and Co-Investigator of the ESRC Network for Integrated Behavioural Science. My research focuses on understanding consumer behaviour in financial markets. I teach courses in Financial Conduct Regulation and Household Finance at graduate level and to professional audiences.

These pages contain details of my academic research and writings. Much of my research involves collaboration with firms and policymakers, for more information please see my university webpage.

Recent Activities

New ESRC Award from the Local Acceleration Fund "Real-time data to understand local conditions, needs and potential" joint with Sarah Hall and Paul Mizen

Submission to the HMT consultation on regulation of Buy Now Pay Later (joint with Ben Guttman-Kenney and Chris Firth) January 2021

All Party Parliamentary Group for Social Science and Policy seminar 'The Economic Recovery of the High Street', December 2021

Coverage on our work on using new data to target levelling up funding, with Sky News

Gender pay inequality among professors in UK academia in the RES newsletter, joint with Monica Costa-Dias and Rachel Griffith

Using real time, geographically granular economic data to evaluate local economic inequality: Levelling Up Live

A new dashboard of real time, geographically granular economic data:

Financial resilience in the aftermath of Covid-19 session at #NestInsight2021, featuring research joint with NEST, sign-up here.

Cabinet office 'what works' policy seminar on data to inform levelling up, September 2021

Radio 4 panel debate on the 'Fiscal Fallout' of Covid-19, listen here

Economics Observatory Blog Where are the UK's levelling up funds most needed?

Chicago Booth Review feature on our real time data project

Summary of new research with NEST Insight The impact of Covid-19 on low and moderate income savers

LSE blog on mapping local economic effects of Covid

Working Papers

Buy Now, Pay Later (BNPL)... On Your Credit Card (with Ben Guttman-Kenney and Chris Firth)

Covid, Work-from-Home, and Securities Misconduct (with Douglas Cumming, Chris Firth and Neil Stewart)


At the Top of the Mind: Peak Prices and the Disposition Effect (with David Hume, George Loewenstein, Edika Quispe-Torreblanca and Neil Stewart


The Co-holding Puzzle: New Evidence from Transaction-Level Data (with Arna Olafsson)

CEPR Discussion Paper #14799


Attention Utility: Evidence From Individual Investors (with George Loewenstein, Edika Quispe-Torreblanca and Neil Stewart)

CESifo Working Paper #8901


Investor Logins and the Disposition Effect (with George Loewenstein, Edika Quispe-Torreblanca and Neil Stewart)


Workplace Inequality is Associated with Status-Signalling Expenditure (with Naomi Muggleton, Anna Trendl, Lukasz Walasek, David Leake and Neil Stewart)

Revised and resubmitted, Proceedings of the National Academy of Sciences

Does Homeownership Reduce Crime? A Radical Housing Reform in Britain (with Richard Disney, Stephen Machin and Matteo Sandi)

CEP Discussion Paper #1685

Revise and resubmit, Economic Journal

How Preferences for Round Numbers Affect Choices: Stickiness and Jumpiness in Credit Card Payments (with Hiro Sakaguchi and Neil Stewart)

Revised and resubmitted, Management Science

Naive Buying Diversification and Narrow Framing by Individual Investors (with David Hirshleifer, David Leake, Hiro Sakaguchi and Neil Stewart)

NBER Working Paper #25567

Revise and resubmit, Journal of Finance

Recent Publications

Default and Anchoring Effects of Credit Card Minimum Payments (with Hiro Sakaguchi, Neil Stewart, Paul Adams, Benedict Guttman-Kenney, Lucy Hayes and Stefan Hunt)

Forthcoming, Journal of Marketing Research 2022

How Do Consumers Avoid Penalty Fees? Evidence From Credit Cards (with H. Sakaguchi, N. Stewart and J. Weber)

Management Science, 67: 1993-2656, 2021

The Association Between Gambling and Financial, Social, and Health Outcomes in Big Financial Data (with N. Muggleton, P. Parpart, P. Newall, D. Leake and N. Stewart. Also see editorial.

Nature Human Behaviour, 5: 319–326, 2021

The Red, the Black and the Plastic: Paying Down Credit Card Debt for Hotels not Sofas (with E. Quispe-Torreblanca, N. Stewart and G. Loewenstein)

Management Science, 65: 4951-5448, 2019

How Do Individuals Repay Their Debt? The Balance-Matching Heuristic (with N. Mahoney, N. Stewart and J. Weber) NBER Digest

American Economic Review, 109: 844-875, 2019

How Do Payday Loans Affect Borrowers? Evidence From the UK Market (with S. Hunt and B. Guttman-Kenney)

Review of Financial Studies, 32: 496-523, 2019. Reprinted in Society for Financial Studies Virtual Issue on Debt here