Dr Craig Webb

Senior Lecturer of Microeconomic Theory

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Research interests

My research is concerned with the foundations, analysis and application of models regarding individual choice under risk and uncertainty.

The work of Behavioural and Experimental Economists presents many challenges to classical Microeconomic Theory. Certain behavioural patterns have consistently been shown to be empirically important. These include: loss aversion, probabilistic risk attitudes and ambiguity aversion. Importantly, such behavioural patterns do not sit well the classical Subjective Expected Utility model.

My primary research agenda is concerned with how these empirical insights can be integrated into mathematical models of decision making. This agenda is guided by a personal view that such models should be both: general enough to allow for realistic departures from expected utility, and simple enough to be of use to Microeconomic Theory.

Projects

Research and projects

No current projects are available for public display