Tore Ellingsen's home page

Photo: Juliana Wiklund

Welcome to my home page! I hold the Ragnar Söderberg Professorship of economics at Stockholm School of Economics. I am also an adjunct professor at Norwegian School of Economics in my hometown, Bergen. 

Below, you can find my CV and links to recent papers and publications (published versions when permitted; otherwise, drafts). 

If you are interested in using my textbook for teaching, please click here to get to the companion site. It has lecture slides and other materials.

My Google Scholar profile


Academic family tree


Institutional and Organizational Economics: A Behavioral Game Theory Introduction, Cambridge: Polity Press, 2024. (Companion page here.)

Recent manuscripts

A Model of Social Duties (co-author Erik Mohlin): Current version 19 December 2023.

Markets and Hierarchies: A Simple Model of Governance (co-author Topi Miettinen): Current version 10 April 2024

A Diamond-Townsend Business Cycle Model, (co-author David Domeij): Current version  3 January 2024.

Money Demand Recessions (co-author David Domeij): Current version 10 July 2021.

Trade Credit and Capital Bias (co-authors Niklas Amberg, Tor Jacobson and Erik von Schedvin), Current version July 2020.

Law and Location (co-author Eirik Gaard Kristiansen): Current version 18 April 2019.


Fair and Square: A Retention Model of Managerial Compensation (co-author Eirik Gaard Kristiansen): Management Science 68(5), 3604-3624, 2022.

Rational Bubbles in UK Housing Markets: Comment (co-author David Domeij): Econometrica 88(4), 1755–1766, 2020.

Rational Bubbles and Public Debt Policy (co-author David Domeij): Journal of Monetary Economics 96, 109-123, 2018.

How Does Communication Affect Beliefs in One-Shot Games with Complete Information? (co-authors Robert Östling and Erik Wengström): Games and Economic Behavior 107, 153-181, 2018.

Does Gender Diversity Promote Non-Conformity? (co-authors Makan Amini, Mathias Ekström, Magnus Johannesson, Fredrik Strömsten), Management Science 63(4), 1085-1096, 2017.

Confining the Coase Theorem: Contracting, Ownership, and Free-riding (co-author Elena Paltseva) Review of Economic Studies 83, 547-586, 2016.

Tough Negotiations: Bilateral Bargaining with Durable Commitments (co-author Topi Miettinen), Games and Economic Behavior 87, 353-366, 2014.

Do People Care about Social Context? Framing Effects in Dictator Games (co-authors Anna Dreber, Magnus Johannesson, and David G. Rand), Experimental Economics 16, 349-371, 2013.

Gender Differences in Social Framing Effects (co-authors Magnus Johannesson, Johanna Mollerstrom, and Sara Munkhammar), Economics Letters 118, 470-472, 2013.

The Private Provision of Excludable Public Goods: An Inefficiency Result (co-author Elena Paltseva), Journal of Public Economics 96 (9-10), 658-669, 2012.

Social Framing Effects: Preferences or Beliefs? (co-authors Magnus Johannesson, Johanna Mollerstrom, and Sara Munkhammar), Games and Economic Behavior 76 (1), 117-130, 2012.

The Evolution of Parental Investment: Re-examining the Anisogamy Argument (co-author Jack Robles), Journal of Theoretical Biology 299, 113-119, 2012.

Conspicuous Generosity (co-author Magnus Johannesson), Journal of Public Economics 95 (9-10), 1131-1143, 2011.

What You Sell Is What You Lend: Explaining Trade Credit Contracts (co-authors Mike Burkart and Mariassunta Giannetti) Review of Financial Studies 24 (4), 1261-1298, 2011.

Financial Contracting under Imperfect Enforcement (co-author Eirik Kristiansen). Quarterly Journal of Economics 26, 323-371, 2011.

Strategic Risk and Coordination Failure in Blame Games (co-author Robert Östling), Economic Letters 110 (1), 90-92, 2011.

A Randomized Trial of the Effect of Testosterone and Estrogen on Verbal, Fluency, Verbal Memory, and Spatial Ability in Healthy Postmenopausal Women, (co-authors Liljana Kocoska-Maras, Niklas Zethraeus, Angelique Flöter Rådestad, Bo von Schoultz, Magnus Johannesson and Angelica Lindén Hirschberg), Fertility and Sterility 95 (1), 152-157, 2011.

When Does Communication Improve Coordination? (co-author Robert Östling),  American Economic Review 100 (4), 1695-1724, 2010.

Anchoring and Cognitive Ability (co-authors Oscar Bergman, Magnus Johannesson and Cicek Svensson). Economics Letters 107 (1), 66-68, 2010.

Testing Guilt Aversion (co-authors Magnus Johannesson, Gaute Torsvik and Sigve Tjøtta). Games and Economic Behavior 68(1), 95-107, 2010.

Trust and Truth (co-authors Magnus Johannesson, Jannie Lilja, and Henrik Zetterqvist) Economic Journal 119 (534), 252-276, 2009.

The Aversion to Lying (co-authors Magnus Johannesson and Tobias Lundquist), Journal of Economic Behavior and Organization 70(1), 81-92, 2009.

Time Is Not Money(co-author Magnus Johannesson), Journal of Economic Behavior and Organization 72 (1), 96-102, 2009.

A Randomized Trial of the Effect of Estrogen and Testosterone on Economic Behavior(co-authors, N. Zethraeus, L. Kocoska-Maras, B. von Schoultz, A. Lindén Hirschberg, M. Johannesson) PNAS 106 (16), 6535-6538, 2009.

Commitment and Conflict in Bilateral Bargaining (co-author Topi Miettinen) American Economic Review 98(4), 1629-1635, 2008.

Verbal Feedback Induces Prosocial Behavior (co-author Magnus Johannesson) Evolution and Human Behavior 29 (2), 100-105, 2008. Appendix.

Pride and Prejudice: The Human Side of Incentive Theory (co-author Magnus Johannesson) American Economic Review 98 (3): 990-1008, 2008.

Paying Respect (co-author Magnus Johannesson) Journal of Economic Perspectives 21(4), 135-149, 2007.

Is Generosity Involuntary? (co-author Magnus Johannesson) Economics Letters 94, 32-37, 2007.

Sunk Costs and Fairness and in Incomplete Information Bargaining (co-author Magnus Johannesson) Games and Economic  Behavior 50, 155-177, 2005.

Does Impartial Deliberation Breed Fair Behavior? An Experimental Test (co-author Magnus Johannesson) Rationality and Society 17, 116-136, 2005.

Is There a Hold-up Problem? (co-author Magnus Johannesson) Scandinavian Journal of Economics 106, 475-494, 2004.

In-Kind Finance: A Theory of Trade Credit (co-author Mike Burkart) American Economic Review 94, 569-590, 2004.

Promises, Threats and Fairness  (co-author Magnus Johannesson) Economic Journal 114, 397-420, 2004.

Fixed or Flexible? Wage Setting in Search Equilibrium (co-author Åsa Rosén), Economica 70, 233-250, 2003.

Monitoring and Pay (co-author Magnus Allgulin), Journal of Labor Economics 20, 201-216, 2002.

Does Evolution Solve the Hold-up Problem? (co-author Jack Robles), Games and Economic Behavior 39, 28-53, 2002.

Monetary Policy and Market Interest Rates (co-author Ulf Söderström), American Economic Review 91(5), 1594-1607, 2001.

Foreign Direct Investment and the Political Economy of Protection (co-author Karl Wärneryd), International Economic Review 40, 357-379, 1999.

Externalities vs Internalities: A Theory of Political Integration, Journal of Public Economics 68, 251-268, 1998.

Sticky Consumption and Rigid Wages (co-author Steinar Holden), in Brakman, van Ees and Kuipers (eds.): Market Behavior and Macroeconomic Modelling, Macmillan, 1998.

Efficiency Wages and X-Inefficiencies, Scandinavian Journal of Economics 99, 581-596, 1997.

The Evolution of Bargaining Behavior, Quarterly Journal of Economics 112, 581-602, 1997

Price Signals Quality: The Case of Perfectly Inelastic Demand, International Journal of Industrial Organization 16, 43-61 1997.

Countertrade as a Strategic Commitment (co-author Lars Stole), Journal of International Economics 40, 67-84, 1996.

On Flexibility in Oligopoly, Economics Letters 48, 83-89, 1995.

Cardinal Utility: A History of Hedonimetry, in M. Allais and O. Hagen (eds.), Cardinalism: A Fundamental Approach, 105-165, Dordrecht: Kluwer, 1994.

Strategic Buyers and the Social Cost of Monopoly, American Economic Review 81, 648-657, 1991.

My COVID-19 paper

Sweden and the Virus, Chapter 1 of M. Carlsson-Wall, Göran Lindqvist, Sara Rosengren, Filip Wijkström, and A. Werr, eds.,  Sweden through the Crisis, Stockholm: Stockholm School of Economics Research Institute (w/J. Roine), 2020.

Some works in Swedish

2020 års Ekonomipris till Paul Milgrom och Robert Wilson, Ekonomisk Debatt 48(8),  5-12, 2020 (w/T. Andersson, P. Fredriksson, E. Mörk, T. Persson, P. Strömberg, and I. Werner).

Hur kan vi kurera ekonomiska kriser? (with David Domeij), Ekonomisk Debatt 45, nr 4, 6-12, 2017.

2014 års Ekonomipris till Jean Tirole, Ekonomisk Debatt 42(8), 5-14, 2014 (w/M. Persson, T. Persson, and T. Sjöström).

2012 års Ekonomipris till Lloyd Shapley och Alvin Roth, Ekonomisk Debatt 40, nr 8, 13-22, 2012 (w/P. Englund, P. Krusell, M. Persson, and T. Sjöström).

2009 års Ekonomipris till Elinor Ostrom och Oliver Williamson för forskning om ekonomisk organisering, Ekonomisk Debatt 37, nr 8, 5-20, 2009.

Normer, känslor och ekonomisk vetenskap, Ekonomisk Debatt 36(6), 7-16, 2008.

Teorin för allokeringsmekanismer, Ekonomisk Debatt 35(8), 6-16 (w/P. Englund, T. Sjöström, and J.Weibull).

Spelteori: Analys av konflikt och samarbete, Ekonomisk Debatt 34(1), 30-43, 2006 (w/ J. Weibull).

Debattdöden, Ekonomisk Debatt 34(3), 83-84, 2006.

Sex, knark, och pensionssystem: Sökandet efter folkhemmets skäl, Ekonomisk Debatt 30(7), 649-653, 2002.


Presentation speeches for Nobel laureates

For Ben Bernanke, Douglas Diamond, and Philip Dybvig, 2022 (English version)

For Angus Deaton, 2015 (English version)

For Angus Deaton, 2015 (Swedish version)

For Jean Tirole, 2014 (English version)

For Jean Tirole, 2014 (Swedish version)

For Elinor Ostrom and Oliver Williamson, 2009 (English version)

For Elinor Ostrom and Oliver Williamson, 2009 (Swedish version)