Curriculum Vitae

Current Position:

 Professor of Economics

Department of Economics,  University of Essex 

Education:

 1985 Laurea (B.Sc.) (Universita’ di Venezia) Economics

1987 M.Phil. (University of Cambridge) Economics

1991 Ph.D. (University of Cambridge) Economics

 Other Positions:

Part time Professor of Economics, Department of Economics, University of Venice

Research Fellow, CEPR (2019 - present)

Economic Theory Fellow, SAET (2011 – present)

Research Fellow, CESifo  (2004 -  present)

Previous Positions:

1989 - 1994: Prize Research Fellow, Trinity College, Cambridge 

1989 - 1990: Junior Research Officer, Department of Applied Economics, University of Cambridge

1992 - 2000: Associate Professor of Economics, Dipartimento di Scienze Economiche, Universita' di Venezia

2000 - 2008: Professor of Economics,  Dipartimento di Scienze Economiche, Universita' di Venezia

2008 - 2018: Professor of Economics, European University Institute

2011 – 2014: Head of Department, Department of Economics, European University Institute 

1992 (Fall), 1996 (Oct.), 1997 (Oct.), 2000 (Oct.), 2002 (Apr., Nov.), 2004 (Feb., Oct.): Visiting Professor, Department of Economics, New York University

1995 (Fall): Visiting Associate Professor, Department of Economics, Harvard University

1998 (Jan. – Feb.), 2001 (Jan. – Feb.), 2002 (Apr.), 2003 (Apr.): Visiting Professor, Universitat Pompeu Fabra, Barcelona

1998 (Fall): Visiting Associate Professor, Cowles Foundation, Yale University

1999 (Spring): Visiting Associate Professor, Brown University

2001 (Aug.): Visiting Professor, Norwegian School of Economics and Business Administration  (Norges Handelshøyskole  -  NHH), Bergen

2003 (Apr.), 2004 (Apr.), 2006 (March), 2007 (March), 2008 (January, April): Visiting Professor, Universitat Autonoma Barcelona

2005 (April): Visiting Professor, Universidad Carlos III, Madrid

2007/2008:  Visiting Scholar, Institute of Advanced Study, Princeton

Professional Activities:

 Associate Editor: Journal of Economic Theory (Jan. 1996 – Jan. 2021)

Associate Editor, Journal of Public Economic Theory (Oct. 1999 – present)

Member Advisory Board, Decisions in Economics and Finance (Dec. 1999 - present)

Co-Editor: Research in Economics/Ricerche Economiche (June 1996 - Dec. 2001)

Member Editorial Board: Ricerche Economiche (Sept. 1994 - June 1996)

Co-Editor Special Issue Journal of Mathematical Economics, Vol. 41, Issues 4-5 (with A. Kajii and M. Quinzii)

Referee: Econometrica, Review  of Economic  Studies, American Economic Review, Journal of Political Economy, Quarterly Journal of Economics, Journal of Finance, Review of Financial Studies,  Journal of the European Economic Association, Rand Journal of Economics,  Journal of Economic Dynamics and Control, Review of Economic Dynamics,  Journal of Public Economics, American Economic Journal: Microeconomics, Theoretical Economics, Economic Journal, International  Economic Review, Games and Economic Behavior, Operations Research, Economic Theory,  Economics Letters, Journal of Mathematical Economics, Mathematical Social Sciences, Macroeconomic Dynamics, Economica, European Economic Review, Canadian Journal of Economics, Oxford Economic Papers,  Economic  and  Social  Studies, CESifo Economic Studies, European  Journal   of Operational   Research, Metroeconomica, Economic Notes, Scandinavian Journal of Economics, Journal of Economics, Spanish Economic Review, Economia Politica.

National Science Foundation, Israel Science Foundation, ANVUR, Kluwer Academic Publisher, Routledge.

Member Programme Committee:

-   European Meetings Econometric Society, 1998, 2001, 2002, 2014

-   European Finance Association Meetings, 2001, 2003, 2004

-   Conferences of the Society for the Advancement of Economic Theory, 2001, 2003, 2005, 2007, 2009, 2011, 2013, 2015, 2017, 2019, 2023

-   European Workshop on General Equilibrium, 2003, 2007, 2010

-   ASSET Meeting, 2007, 2008

-   PET Meeting, 2009, 2010

Co-Organizer:

-   Workshop in Economic Theory, Istituto Veneto Scienze, Lettere ed Arti, Venezia, 1995-1999 (with Y. Balasko, D. Gale)

-   Conference on "Efficiency in  Economies  with  Public  Goods  and Private Information", Universita’ di Venezia, 1996 (with S. Weber)

-   Colloquia on Economic Research, IGIER, Milan, 1997, 1998  (with G. Maggi and A. Bisin)

-   Conference on 'Information, Financial Markets and the Business Cycle', Rome, 2000 (with G. Bertocchi and P. Reichlin)

-   Summer School on 'Contracts and Markets with Boundedly Rational Agents', VIU, 2001  (with P. Battigalli and M. Marinacci)

-   Workshop on "Intergenerational Risk Sharing and Contracts", Fiesole,  2002  (with G. Bertocchi and P. Reichlin)

-   13th European Workshop on General Equilibrium, VIU, 2004  (with F. Kubler)

 Ph.D. Students:

            Current students (primary advisor):

            Henrike Groeger

            Previous students:

• • • •   Junghum Park (Senior Economist, CEFER, Bank of Lithuania)

      •   My Hedlin  (Assistant Professor, Bar-Ilan)

      •   Felix Corell (Assistant Professor, VU Amsterdam)

      •   Mathijs Janssen (postdoc, University of Bonn)

      •    Benedikt Dengler (Ministry for Economic Affairs, Berlin)

      •    Matteo Escudé (Assistant Professor, LUISS, Rome)

      •    Vincent Maurin (Assistant Professor of Finance, Stockholm School of Economics)

      •    Anna Gibert  (postdoc, DIW)

      •    Anastasia Antsygina (Assistant Professor, HSE Moskow)

      •    Mathilde Lebrand (World Bank)

      •    Arevik Mkrtchyan (postdoc, Universitat Hannover)

      •    Sarah Auster (Assistant Professor, Univ. Bonn)

      •    David Strauss (Assistant Professor, CIDE, Mexico City)

      •    Eugenia Andreasen (Assistant Professor, Universidad de Santiago de Chile)

      •    Christoph Bertsch (Economist, Sveriges Riksbank, Sweden)

      •    Hinnerk Gnutzmann  (postdoc, Universita’ Cattolica, Milan)

      •    Dominik Menno (Assistant Professor, Aarhus University)

      •    Joanna Franaszek (Assistant Professor, Warsaw School of Economics)

      •    Antoine Camous (co-advisor; Assistant Professor, Mannheim University)

      •    Rune Midjord (postdoc, Copenhagen University)

Teaching:

University of Essex: 

Microeconomics (Advanced) (B.Sc.), Economics of Financial Markets (B. Sc.)

European University Institute

                        Microeconomic Theory (Ph.D.), Topics in Financial Economics (Ph.D.)

Università di Venezia:

Intermediate Microeconomics (undergraduate), Economics of Uncertainty and Information (undergraduate), Game Theory (undergraduate), Mathematical Economics (undergraduate), Advanced Microeconomics (Master), Microeconomic Theory (Ph.D.). 

Harvard University:

Mathematical Approaches to General Equilibrium (Ph.D.).

Universitat Pompeu Fabra, Barcelona:

Financial Economics I (Master in Economics), Topics in Microeconomics (Ph.D.), Dynamic Macroeconomic Theory and Incentives (Ph.D.)

Yale University:

Mathematical Economics (Ph.D.).

Brown University:

Topics in Economic Theory (Ph.D.), Game Theory and Applications to Economics (undergraduate)

Universitat Autonoma Barcelona:

Financial Markets and Macroeconomics (Ph.D.), Finance (Ph. D.), Topics in Finance and Macroeconomics (Ph.D.)

Universidad Carlos III, Madrid:

Topics in Microeconomics: Competitive Equilibria under Uncertainty  (Ph.D.)

Selected Publications:

• Piero Gottardi - Claudio Mezzetti: "Shuttle Diplomacy", revised Sept. 2023, Journal of Economic Theory 224 (March 2024), 105794.

• Arpad Abraham - Piero Gottardi - Joachim Hubner - Lukas Mayr: "Tax Wedges, Financial Frictions and Misallocation", revised July 2023,  Journal of Public Economics 227 (Nov. 2023), 105000.

• Vitor Farinha Luz – Piero Gottardi – Humbert Moreira: “Risk Classification in Insurance Markets with Risk and Preference Heterogeneity", revised Nov. 2022,  Review of Economic Studies 90(6), 3083-3118.

• Alberto Bisin - Piero Gottardi: "Efficient Policy Interventions in an Epidemic", revised May 2021, Journal of Public Economics 200 (Aug. 2021), 104444.

• Antonio Cabrales - Francesco Feri -  Piero Gottardi - Miguel Melendez:  “Can there be a Market for Cheap Talk Information? Some Experimental Evidence”, revised Feb. 2020, Games and Economic Behavior 121 (May 2020),  368-381.

• Douglas Gale – Piero Gottardi: “Equilibrium Theory of Banks’ Capital Structure”, revised Dec, 2019, Journal of Economic Theory 186 (March 2020), 104995.

• Piero Gottardi – Vincent Maurin – Cyril Monnet:  “A Theory of Repurchase Agreements, Collateral Re-Use and Repo Intermediation”, revised March 2019, Review of Economic Dynamics 33 (July 2019), 30-56.

• Sarah Auster - Piero Gottardi: “Competing Mechanism in Markets for Lemons”, revised Dec. 2018, Theoretical Economics 14 (Sept. 2019), 927-970.

• Antonio Cabrales – Piero Gottardi – Fernando Vega Redondo: “Risk Sharing and Contagion in Networks”, revised Apr. 2017, Review of Financial Studies 30(9) (Sept. 2017), 3086-3127.

• Piero Gottardi – Jean-Marc Tallon – Paolo Ghirardato: “Flexible Contracts”, revised Dec. 2015,  Games and Economic Behavior  103 (May 2017), 145-167

• Antonio Cabrales – Douglas Gale – Piero Gottardi: “Financial Contagion in Networks”, revised March 2015,  The Oxford Handbook of the Economics of Networks (Y. Bramoullé, A. Galeotti and B. Rogers, eds.), OUP.

• Piero Gottardi – Atsushi Kajii – Tomoyuki Nakajima: “Constrained Inefficiency and Optimal Taxation with Uninsurable Risks”, revised Aug. 2014, The Journal of Public Economic Theory 18(1) (Jan. 2016) 1-28.

• Piero Gottardi - Atsushi Kajii – Tomoyuki Nakajima: "Optimal Taxation and Debt with Uninsurable Risks to Human Capital Accumulation", American Economic Review 105(11) (Nov. 2015), 3443-3470.

• Ronel Elul – Piero Gottardi: "Personal Bankruptcy: Is it Enough to Forgive or must we also Forget?", American Economic Journal: Microeconomics 7(4) (Nov. 2015), 294-338 (research highlight in https://www.aeaweb.org/research/are-credit-histories-too-revealing.php)

• Piero Gottardi – Felix Kubler: “Dynamic Competitive Economies with Complete Markets and Collateral Constraints”, Review of Economic Studies  82(3) (July 2015), 1119-1153.

• Douglas Gale – Piero Gottardi: “Capital Structure, Investment and Fire Sales”, Review of Financial Studies 28(9) (Sept. 2015), 2502-2533.

• Piero Gottardi – Rohit Rahi: “Value of Information in Competitive Economies with Incomplete Markets”, International Economic Review 55 (1) (Feb. 2014), 57-81.

• Antonio Cabrales – Piero Gottardi:  “Markets for Information: Of Inefficient Firewalls and Efficient Monopolies”, Games and Economic Behavior 83 (Jan. 2014), 24-44.

• Piero Gottardi – Rohit Rahi: “Risk Sharing and Retrading in Incomplete Markets”, Economic Theory  54 (2) (Oct. 2013), 287-304.

• Alberto Bisin, John Geanakoplos, Piero Gottardi, Enrico Minelli and Heraklis Polemarchakis: "Markets for Contracts",   Journal of Mathematical Economics 47 (May 2011), 279-288.

• Piero Gottardi – Douglas Gale: “Bankruptcy, Finance Constraints and the Value of the Firm”, American Economic Journal: Microeconomics  3 (May 2011), 1-37.

• Piero Gottardi – Felix Kubler: “Social Security and Risk Sharing”, Journal of Economic Theory  146 (May 2011), 1078-1106.

• Alberto Bisin - Piero Gottardi - Adriano Rampini:  "Managerial Hedging and Portfolio Monitoring", Journal of the European Economic Association 6 (March 2008), 158–209.

• Piero Gottardi – Belen Jerez: “Comment on ‘Bertrand and Walras Equilibria under Moral Hazard’”, Journal of Political Economy  115 (October) 2007, 893-900.

• Julio Davila - Piero Gottardi - Atsushi Kajii: "Local Sunspot Equilibria Reconsidered", Economic Theory 31 (June 2007), 401-425.

• Alberto Bisin – Piero Gottardi: "Efficient Competitive Equilibria with Adverse Selection", Journal of Political Economy  114 (June 2006), 485–516

• Piero Gottardi - Roberto Serrano: "Market Power and Information Revelation in Dynamic Trading", Journal of the European Economic Association 3 (December 2005), 1279-1317.

• Alberto Bisin - Piero Gottardi: "Competitive Markets for Non-Exclusive Contracts with Adverse Selection: the Role of Entry Fees", Review of Economic Dynamics 6 (April 2003), 313-338.  

• Piero Gottardi - Atsushi Kajii: "A Note on the Regularity of Competitive Equilibria and Asset Structures", Journal of Mathematical Economics 39 (September 2003), 763-776.

• Piero Gottardi - Andreu Mas-Colell: "A Note on the Decomposition (at a point) of Aggregate Excess Demand on the Grassmannian", Journal of Mathematical Economics 33 (2000), 463-473.

• Subir Chattopadhyay - Piero Gottardi: "Stochastic OLG, Market Structure, and Optimality", Journal of Economic Theory, 89(1) (November 1999), 21-67.

• Alberto Bisin - Piero Gottardi: "Competitive Equilibria with Asymmetric Information", Journal of Economic Theory 87(1) (July 1999), 1-48.

• Alberto Bisin - Piero Gottardi - Danilo Guaitoli: "A Note on the Convergence to Competitive Equilibria in Economies with Moral Hazard", in P.J.J. Herings, G. Van der Laan and A.J.J. Talman, "Theory of Markets", North Holland, 1999 (pp. 229- 246).

• Piero Gottardi - Atsushi Kajii: "The Structure of Sunspot Equilibria: the Role of Multiplicity", Review of Economic Studies 66(3) (July 1999), 713-732.

• Piero Gottardi - Thorsten Hens: "Disaggregation of Excess Demand and Comparative Statics with Incomplete Markets and Nominal Assets", Economic Theory 13(2) (March 1999), 287-308.

• Jerome Detemple - Piero Gottardi: "Aggregation, Efficiency and Mutual Fund Separation in Incomplete Markets", Economic Theory 11(2) (March 1998), 443-457.

• Piero Gottardi - Thorsten Hens: "The Survival Assumption and the Existence of Competitive Equilibria with Incomplete Markets", Journal of Economic Theory 71(2) (Nov. 1996) 313-323.

• Piero Gottardi: "Stationary Monetary Equilibria in Overlapping Generations Models with Incomplete Markets", Journal of Economic Theory 71(1) (Oct. 1996) 75-89.

• Jerome Detemple - Piero Gottardi - Heraklis Polemarchakis: "The Relevance of Financial Policy", The European Economic Review 39 (June 1995), 1133-1154.

• Piero Gottardi: "An Analysis of the Conditions for the Validity of Modigliani-Miller Theorem with Incomplete Markets", Economic Theory 5 (March 1995), 191-207.

• Piero Gottardi: "Does Sunspot Monetary Policy Matter ?", Economics Letters 47 (March 1995), 297-303.

• Piero Gottardi: "On the Non Neutrality of Money with Incomplete Markets, Journal of Economic Theory 62 (Feb. 1994), pp. 209-220.

• Piero Gottardi - Pablo Neumeyer: "La Politica Monetaria en Economias en Mercados Incompletos", Cuadernos de Economia 50 (June 1992), pp. 7-37.

Working Papers:

• Giuseppe Dari Mattiacci - Piero Gottardi: "Criminal Records", April 2024.

• Antonio Cabrales - Piero Gottardi: "Network Formation and Heterogeneous Risks", April 2024

• Willie Fuchs – Piero Gottardi - Humberto Moreira: “Time Trumps Quantity in the Market for Lemons”, revised July 2024.

• Sarah Auster - Piero Gottardi: "Sorting versus Screening in Markets with Adverse Selection", revised July 2024; conditionally accepted at Journal of Economic Theory.

• Alberto Bisin – Gian Luca Clementi - Piero Gottardi: "Capital Structure and Hedging Demand with Incomplete Markets”, revised Aug. 2023; revise and resubmit at the Economic Journal.

• Sarah Auster - Piero Gottardi - Ronald Wolthoff: "Simultaneous Search and Adverse Selection", revised February 2024; revise and resubmit at the Review of Economic Studies.

• Antonio Cabrales - Francesco Feri -  Piero Gottardi - Miguel Melendez:  “Strategic Information Transmission and Social Preferences ”, revised Oct. 2023.

• Piero Gottardi - Vincent Maurin - Cyril Monnet: “Fragility under Joint-Financing:  the (Moral) Hazards of Diversification”, revised June 2024; revise and resubmit at the Journal of Economic Theory.

• Alberto Bisin - Piero Gottardi: "Decentralizing Efficient Allocations in Economies with Adverse Selection: the General Case", revised Sept. 2010.

• Piero Gottardi and Rohit Rahi: "Efficiency Properties of Rational Expectations Equilibria with Asymmetric Information",  revised 2003.

• Alberto Bisin - Piero Gottardi: "When are Asymmetric Information Economies Walrasian?",  Feb. 2001.

• Alberto Bisin - Piero Gottardi: "Competitive Equilibria of Economies with Moral Hazard. A Note on Helpman-Laffont", Feb. 1998.

• Piero Gottardi - Marie-Odile Yanelle: "Financial Innovation and Competition among Intermediaries", May 1998.

Work in Progress: 

• Piero Gottardi - Ben Lester - Ryan Michaels - Ronald Wolthoff: "Signals, Interviews and Discrimination in the Labor Market"

• Piero Gottardi – Nicola Pavoni: "Ramsey Asset Taxation Under Asymmetric Information "

• Piero Gottardi – Shengxing Zhang: “Collateral Chains”

• Arpad Abraham – Piero Gottardi: “Bankruptcy and Liquidation Rules“

• Lukas Altermatt - Piero Gottardi: "Market Choice in Asset Trading: The Role of Collateral"

• Albin Erlanson - Piero Gottardi: "Matching with Interviews"

• Piero Gottardi - Vincent Maurin - Cyril Monnet: "Lender of Last Resort Access Policies"

• Piero Gottardi – Roberto Serrano: “Information Transmission and Competitive Equilibria with Asymmetric Information”

• Piero Gottardi – Sanjeev Goyal: “Bilateral Trading and Intermediation”