Since August 2022, I am an Associate Professor at the ESSCA School of Management. 

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

Some of the research questions I am currently working on are the following:

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

  2. How to provision weakest-link and best-shot public goods? 

  3. When and why discrimination flourishes?

  4. How social comparisons influence investment decisions?

  5. How queuing processes influence bribery and corruption?

Publications

1. 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. 

2. 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 

3. 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.

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

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

6. 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 

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

8. 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.

9. 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.