Since August 2022, I have been an Associate Professor of Economics at ESSCA School of Management. 

I'm an experimental economist in training and biases, and a social scientist at heart. In my research, I conduct laboratory experiments to test economic theories, identify behavioural patterns in economic decisions, and study institutional and market failures. 

Current research questions include:

• 1. How may past actions or individual characteristics act as signals of a person's abilities or moral character?

  2. When and why does discrimination flourish?

  3. How do social comparisons influence investment decisions?

  4. How do queuing processes influence bribery and corruption?

  5. How do large language models (LLMs) affect human interactions? 

Publications

1. Karakostas, A., De Souza Monteiro, D. M., & Adjei, C. (2025). Double Moral Hazard in Contract Farming: An Experimental Analysis. Journal of Agricultural Economics. 

2. Karakostas, A., Drichoutis, A. & Grimm, V., (2025). Jumping the queue: An experimental study on cultural differences in bribing attitudes among Greeks and Germans. Journal of Economic Behavior & Organization, 235, 107045.

   • Media coverage: BlueSky (TV interview), Alpha Radio 98.9 (radio interview) Ta Nea (Newspaper),   Proto Thema (Newspaper), zarpanews.gr, ygeiamou.gr  (news website) 

3. Karakostas A., Tran, E. N., & Zizzo, D. J. (2025) "Experimental insights on antisocial behavior: two meta-analyses." Experimental Economics: 1-32. doi:10.1017/eec.2024.10 

4. Balafoutas, L., Celse, J., Karakostas, A., & Umashev, N. (2025). Incentives and the replication crisis in social sciences: A critical review of open science practices. Journal of Behavioral and Experimental Economics, 114, 102327.

5. Celse, J., Karakostas, A., & Zizzo, D. J. (2023). Relative risk taking and social curiosity. Journal of Economic Behavior & Organization, 210, 243-264.

6. Karakostas, A., Morgan, G., & Zizzo, D. J. (2023) Socially Interdependent Risk Taking. Theory and Decision,  95, 365-378. 

7. Karakostas A., M. Kocher, D. Matzat, H. Rau and G. Riewe (2023) The Team Allocator Game: The Power of Leadership in Public Goods Games. Games and Economic Behavior, 140, 73-87 

8. Chowdhury, S. M. & Karakostas A. (2019) An Experimental Investigation of the ‘Tenuous Trade-off’ between Risk and Incentives in Organizations. Theory and Decision. 

9. Karakostas, A., Sonntag, A., & Zizzo, D. J. (2017). Contract Choice: Efficiency and Fairness in Revenue‐Sharing Contracts. The Scandinavian Journal of Economics, 119 (4), 962-986.

10. Karakostas, A., & Zizzo, D. J. (2016). Compliance and the power of authority. Journal of Economic Behavior & Organization, 124, 67-80. 

    • Media coverage: BBC, Pacific Standard. 

    • Featured in the journal’s list of most downloaded articles for the last 90 days, for over 5 years since its publication.