David Kelsey MA, MPhil, DPhil Oxon., Current position Professor of Economic Theory (Since 2004) Contact Office: Room 45 Streatham Court Office hours: Wednesdays 2-4pm (term time only) Phone (Personal): (01392) 262536 Fax (School) (01392) 263242 email:D.Kelsey@exeter.ac.uk
Curriculum Vitae PDF

Research Interests

David Kelsey is currently on working choice under uncertainty and its applications in economics and finance. In particular on how factors such as ambiguity and overconfidence influence behaviour. The research focuses on the impact of ambiguity in finance, game theory and economics. Applications of this research have included, private provision of public goods, partnerships and asset pricing. Currently he is researching into the impact of ambiguity on corporate finance and herding in financial markets. He is also interested in decision-making within firms and how it influences corporate governance.

Teaching:

• BEE3033 Financial Markets and Decisions I

• BEE3037 Industrial Organistion I

Research      Full Publication List.

Recent working papers

1. David Kelsey, and Jürgen Eichberger, (2007) "Are the Tresures of Game Theory Ambiguous?", seminar.
    
2. David Kelsey, and Surajeet Chakravarty (2007) "The Act of God Clause",
    
3. David Kelsey and Jürgen Eichberger (2005), "Optimism and Pessimism in Games",
    
4. David Kelsey and Frank Milne (2009), "Takeovers and Cooperatives"
    
5. David Kelsey, Jürgen Eichberger, Simon Grant and Gleb Koshevoy (2008) "Differentiating Ambiguity: A Comment",    seminar.
   
   
6. David Kelsey, Jim Ford and Wei Pang , (2006) "Ambiguity in Financial Markets: Herding and Contrarian Behaviour",
     seminar.
   
7. David Kelsey, Jürgen Eichberger and Simon Grant (2007) "Comparing Three Ways to Update Choquet Beleifs",
    

Selected Publications

1. David Kelsey, and Jürgen Eichberger, (2007) "Ambiguity", a Survey paper in Handbook of Rational and Social Choice eds. Anand Pattanaik and Puppes, OUP, 2009.
    
2. David Kelsey, Jürgen Eichberger and Burkhard Schipper, (2009) " Ambiguity and Social Interaction", Oxford Economic Papers, , 61, 355-379.
    
3. David Kelsey and Frank Milne (2008), "Market Distorsions and Corporate Governance" Journal of Public Economic Theory, 10, 1115-1141.
    
4. David Kelsey, Jürgen Eichberger and Burkhard Schipper, (2008) "Granny Versus Game Theorist: An Experimental Test of Ambiguity in Games", Theory and Decision, 64, 333-362.
    
5. David Kelsey, Jürgen Eichberger and Simon Grant (2008) "Differentiating Ambiguity: An Expository Note", Economic Theory, 38, 327-336.
    
6. David Kelsey, Jürgen Eichberger and Simon Grant (2007) "Updating Choquet Beliefs", Journal of Mathematical Economics, 43, 888-899, 2007.
    
7. David Kelsey and Willy Spanjers (2004), "Ambiguity in Partnerships", Economic Journal, 114, 528-546.
    
8. David Kelsey and Jürgen Eichberger (2002) "Strategic Complements Substitutes and Ambiguity" Journal of Economic Theory, 2002, 106, 436-466.
    
9. David Kelsey and Jürgen Eichberger (2000) "Non-Additive Beliefs and Strategic Equilibria" Games and Economic Behaviour, 2000, 30, 183-215.
    
10. David Kelsey and Jürgen Eichberger (1996) "Uncertainty Aversion and Preference for Randomisation" Journal of Economic Theory, 1996, 71, 31-43.
     
11. David Kelsey (1995) "The Arbitrage Pricing Theorem with Non-Expected Utility Preferences" Journal of Economic Theory, 65, 557-574.  

12. David Kelsey (1988), "The Economics of Chaos", Oxford Economic Papers, 40, 1-31, Reprinted in F. Hahn (ed.), The Economics of Missing Markets, Information and Games, OUP.

13. David Kelsey (1984), "Acyclic Choice without the Pareto Principle," Review of Economic Studies, LI, 693-699.
     

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University of Exeter
School of Business and Economics
updated 09:01 19th August 2009