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Jason Shachat


The University of Arizona

1991 to 1996


Ph.D., Department of Economics



Tulane University

1984 to 1988


B.S., Mathematical Economics




Professor of Experimental Economics

Durham University Business School

• Department of Economics and Finance

2014 to present


Full Professor Xiamen University

2009 to 2014

• Wang Yanan Institute for Studies in Economics (WISE)


Associate Professor

National University of Singapore

2003 to 2009


• Department of Business Policy,

2003 to 2009


• Department of Economics,

2003 to 2006


Research Staff Member

IBM TJ Watson Research Center

   Institute for Advance Commerce

   Mathematics and Operations Research Group

2001 to 2003


Assistant Professor

University of California, San Diego

• Department of Economics

1996 to 2001



Visiting Research Fellow, In-East School of Advanced Studies, University of

Duisburg-Essen                                                                                                                                      2015

Visiting Research Scientist, IBM TJ Watson Research Center                                               2000

Visiting Research Scientist,HP Laboratories Palo Alto                                          1998 and 1999

Visiting Assistant Professor, GRID, Cachon, France                                                October 1997

Grants and Research


[1]       HEFCE Newton Fund Official Development Assistance Allocation (2017) £9,170

[2]       Fujian High Talent Award (2010) - ¥1,000,000 RMB

[3]       National University of Singapore Departmental Research Award: Department of Business Policy (2006)

[4]       FRC Research Grant, National University of Singapore, "Marketing and

Procuring Goods through Exchanges and Auctions" (2003-2006) S$46,000

[5]       FRC Research Grant National University of Singapore, "Game Responses as Survey Instruments: Measuring of the Constituents of Social Capital," (2003-2006) S$18,000

[6]          TESS/NSF grant "Game Responses as Survey Instruments: Measuring of the Constituents of Social Capital," with Daniel Houser and Jonathan Leland (2003) US$20,000

[7]          Hellman Faculty Fellow, University of California, San Diego (2000-2001) US$12,000

[8]          National Science Foundation, "Instrumentation Grant for Experimental

Economics Laboratory," with Vincent Crawford (1998-1999) US$58,000

[9]          Hewlett Packard Laboratories, "Econometric Models of Markets with Product Differentiation." (1999) US$78,461

[10]       National Science Foundation, "Investigations of Behavior in Strategic Environments with Unique Mixed Strategy Solutions," (1998) US$48,000

[11]       University of Arizona Graduate College Competitive Research Grant recipient for "Mixed Strategy Play and the Minimax Hypothesis" (1995) US$3,000

[12]       Russell Sage Foundation Roundtable in Behavioral Economics, research grant for "Mixed Strategy Play and the Minimax Hypothesis" (1995) US$6,500

[13]       Elmer J. Brown memorial scholarship and the Vincent F. Boland Memorial Award for outstanding graduate student paper (1994) - US$16,000




[1] Shachat, J. and Z. Zhang (forthcoming). The Hayek Hypothesis and Long Run Competitive Equilibrium: An Experimental Investigation. Economic Journal.

[2]          Gu, J., I. Nielsen, J. Shachat, R. Smyth, and Y. Peng (2016). An experimental study of the effects of intergroup contact on attitudes in urban China. Urban Studies 53(14), 2991–3006.

[3]          Geng, S., Y. Peng, J. Shachat, and H. Zhong (2015). Adolescents, cognitive ability, and minimax play. Economics Letters 128, 54 –58.

[4]          Shachat, J., J. T. Swarthout, and L. Wei (2015). A hidden Markov model for the detection of pure and mixed strategy play in games. Econometric Theory 31 (04), 729–752.

[5]          Shachat, J. and L. Tan (2015). An Experimental Investigation of Auctions and Bargaining in Procurement. Management Science 61(5), 1036–1051.

[6]          Shachat, J. and J. T. Swarthout (2013). Auctioning the Right to Play Ultimatum Games and the Impact on Equilibrium Selection. Games 4(4), 738–753.

[7]          Zhang, Z., G. Chen, and J. Shachat (2013). The Impact of Asymmetric and Public Information on Pricing Bubbles in Experimental Asset Markets. Securities Market Herald 9. (in Chinese, CSSCI), 54–61.

[8]          Shachat, J. and J. T. Swarthout (2012). Learning about learning in games through experimental control of strategic interdependence. Journal of Economic Dynamics and Control 36(3), 383 –402.

[9]          Shachat, J. and L. Wei (2012). Procuring Commodities: First-Price Sealed-Bid or English Auctions? Marketing Science 31(2), 317–333.

[10]      Shachat, J. and J. T. Swarthout (2010). Procurement Auctions for Differentiated Goods. Decision Analysis 7(1), 6–22.

[11]      Shachat, J. and A. Westerling (2006). Information aggregation in a catastrophe futures market. Managerial and Decision Economics 27(6), 477–495.

[12]      Shachat, J. and J. Todd Swarthout (2004). Do we detect and exploit mixed strategy play by opponents? Mathematical Methods of Operations Research 59(3), 359–373.

[13]      Shachat, J. and M. Walker (2004). Unobserved heterogeneity and equilibrium: an experimental study of Bayesian and adaptive learning in normal form games. Journal of Economic Theory 114(2), 280–309.

[14]      Huang, H., C. Keser, J. Leland, and J. Shachat (2003). Trust, the Internet, and the digital divide. IBM Systems Journal 42(3), 507–518.

[15]      Rosenthal, R. W., J. Shachat, and M. Walker (2003). Hide and seek in Arizona. International Journal of Game Theory 32(2), 273–293.

[16]      Shachat, J. (2002). Mixed Strategy Play and the Minimax Hypothesis. Journal of Economic Theory 104(1), 189–226.

[17]      Cox, J. C., J. Shachat, and M. Walker (2001). An Experiment to Evaluate Bayesian Learning of Nash Equilibrium Play. Games and Economic Behavior 34(1), 11 –33.

[18]      Wooders, J. and J. Shachat (2001). On the Irrelevance of Risk Attitudes in Repeated Two-Outcome Games. Games and Economic Behavior 34(2), 342 – 363.

[19]      Hoffman, E., G. Libecap, and J. Shachat (1998). An Experimental Investigation of the Incentives to Form Agricultural Marketing Pools. Journal of Mathematical Psychology 42(3), 287 –304.

Other Academic [1] Noussair, C. N. and J. Shachat (2014). Experiments on Learning, Methods Publications    and Voting. Pacific Economic Review 19(3), 255–259.

[2] Leland, J., D. Houser, and J. Shachat (2005). “Trust and Entrepreneurship: A West-East Perspective”. In: ed. by H.-H. Hohmann and F. Welter. Edward Elgar Publishing. Chap. Measuring trust and trustworthiness, pp. 87 –96.

Working Papers [1] Gu, J., A. Mueller, I. Nielsen, J. Shachat, and R. Smyth (2015). “Reducing

prejudice through actual and imagined contact: A field experiment with Malawian shopkeepers and Chinese immigrants”. Duisburg Working Papers on East Asian Studies, WP-105.

[2]      Shachat, J. and H. Wang (2014). “Are You Experienced?”

[3]      Shachat, J. and L. Wei (2013). “Discrete Rule Learning and the Bidding of the Sexes”.

[4]      Shachat, J. and A. Srivinasan (2011). “Informational Price Cascades and Non-Aggregation of Asymmetric Information in Experimental Asset Markets”. Revision requested.

[5]      Gjerstad, S. and J. M. Shachat (2007). “Individual Rationality and Market Efficiency”. Purdue University, Department of Economics.

         Academic                  2017

         Presentations                 Departmental Seminar

(Since 2010)

Chinese University of Hong Kong, Hong Kong Baptist University

Conference Presentation

ZEW Workshop on Market Design in Mannheim


Departmental Seminar

University of Texas at Dallas, University of Texas at Arlington

Conference Presentation

Game Theory Society World Congress (Maastricht), North American Meeting of the ESA (Tucson)


Departmental Seminar

Newcastle University, Wissenschaftszentrum Berlin (WZB), University of Duisburg-Essen

Conference Presentation

POMS (Washington DC), European Meeting of the ESA (Heidelburg), SAET Annual Meeting (Cambridge)


Departmental Seminar

University of Carlos III, University of Technology Sydney, Boise State University, University of Macau

Conference Presentation

LPEx Workshop Middlessex University (Plenary), Informs International Meeting, Behavioral Operations Conference (Cologne), Experimental Finance Conference (Zurich), Chinese Meeting of the Econometric Society


Departmental Seminar

NYU Stern School of Business, University of Innsbruck

Conference Presentation

Economic Science Association Asia-Pacific Meeting (Tokyo), Xiamen University Panel Data Conference, Tsinghua Micro Theory and Behavioral Economics Conference, Asian Meeting of the Econometric Society (Singapore), International Meeting of the Economic Science Association (Zurich), Society for the Advancement of Economic Theory International Meeting (Paris) Sogang-SUPEX Behavioral and Experimental Economics Workshop (Seoul), The 4th Annual Xiamen University International Workshop on Experimental Economics


Departmental Seminar

Xian Jiatong-Liverpool University, University of Electronic Science and

Technology of China, Southwest University of Finance and Economics (Chengdu), Tsinghua University SEM, Copenhagen Business School, University of Innsbruck, University of Auckland, University of Victoria, University of Canterbury , University of Otago, University of Technology Sydney, University of Monash, University of Sydney, University of Adeliade, Tilburg University, Zhongnan University (Changsa), Shanghai University of Finance and Economics

Conference Presentation

Experimental Finance (Luxembourg), WISE-Humboldt Joint Workshop on Non-stationary and High Frequency Data (Xiamen), Antwerp-LilleWISE Joint Workshop on Advances in Modern Microeconomics (Lille), Aarhus-WISE Joint Workshop (Aarhus), China International Conference on Game Theory and Applications (Qingdao), Experimental Finance (Luxembourg), Victoria University Wellington-WISE Joint Workshop (Xiamen)


Departmental Seminar

Zhejiang University, Georgia State University, UT-Dallas, George Mason University, Penn State University, New York University, University of Pittsburgh. Luxembourg School of Finance, University of Amsterdam

Conference Presentation

Economic Science Association Asia-Pacific Meeting (Kuala Lumpur), Chinese Economists Society (Beijing), Summer Meeting Econometric Society (Seoul), Society for the Advancement of Economic Theory International Meeting (Faro, Portugal), Economic Science Association European Meeting (Luxembourg), Experimental Finance 2011 (Innsbruck)


Departmental Seminar

Georgia State University, University of Arizona, Peking University HSBC

School of Business, Shanghai Jiao Tong University

Conference Presentation

Humboldt University - WISE joint workshop (Berlin), Economic Science Association International Meeting (Copenhagen),Society for the Advancement of Economic Theory annual international conference (Singapore), Econometric Society World Congress (Shanghai), Chinese Economists

Society (Xiamen), Chinese Game Theory and Experimental Economics Meeting (Beijing), Economic Science Association North American Meeting (Tucson), International Workshop in Experimental Economics and Finance (Xiamen)

         Student                      Doctoral

Advising                               [1]    Toh See Gek (Ruby), National Univeristy of Singapore, PhD. in Economics 2006 (First appointment, Research Fellow Lee Kuan Yew School of Public


[2]       Lijia Wei, Xiamen University, PhD. in Economics 2012 (First appointment,

Associate Prof. Wuhan University.)

[3]       Zhenxuan Zhang, Xiamen University, PhD. in Economics 2013 (First appointment, Research Staff, Central Bank of China)

[4]       Lijia Tan, Xiamen University, PhD. 2015 (First appointment, Post-Doc

Scholar, University of Cologne)

[5]       Qinjuan Wan, Durham University, PhD. expected 2019

[6]       Sijia Wei, Durham University, PhD. expected 2019 Master

[1]       Li Zaiming, National University of Singapore, Masters in Economics 2007

[2]       Kuangli Xie, Xiamen University, Masters in Finance 2013 (Enrolled in the

Economics PhD. program of Southern Methodist University)

[3]       Zhu Feng, Xiamen University, Masters in Economics 2014 (Enrolled in the Economics PhD. program of Pennsylvania State University)

[4]       Xu Yan, Xiamen University, Masters in Finance 2014 (Enrolled in the Economics PhD. program of Tinbergen Institute)

[5]       Mingzhi Peng, Xiamen University, Masters in Finance 2014

[6]       Weiwie Zhang, Xiamen University, Masters in Economics 2014 (Enrolled in the Economics PhD. program of George Mason University)

[7]       Hang Wang, Xiamen University, Masters in Finance 2015 (Enrolled in the NYU School of Law)

[8]       Huizhen Zhong Xiamen University, Masters in Economics 2015 (Enrolled in the Economics PhD. program of the University of Alabama)



Referee Service

Econometrica, American Economic Review, Journal of Economic Theory, Economic

Journal, Journal of Finance, Management Science, Marketing Science, Games and

Economic Behavior, Journal of Public Economics, Proceedings of the National Academy of Sciences, European Economic Review, Journal of Economics and Management Strategy, Economic Theory, Experimental Economics, Economic Inquiry, Journal of Economic Behavior and Organization, International Journal of Industrial Organization, Theory and Decision, Scandinavian Journal of Economics, Cognition, Journal of Mathematical Psychology, Journal of Economic Psychology,

Games, National Science Foundation, Southern Economic Journal, Informs, IBM Systems Journal, Decision Analysis, Autonomous Agents and Multi-Agent Systems, Pacific Economic Review, European Journal of Finance, Israel Science Foundation, Journal of Behavioral and Experimental Economics, Frontiers in Behavioral Neuroscience, Social Indicators Research, Journal of the Economic Science Association and Intelligent Systems in Accounting, Finance and Management

Editorial Service

   Guest Co-Editor Special Issue in Pacific Economic Review publication date 2014

Conference Organization

   Co-organizer: NSF Decentralization Conference, Yorktown Heights New York (2000).

   Organizer: Experimental Economics Track, Chinese Economists Society Meeting, (2010, 2011)

   Organizer: Annual International Experimental Economics and Finance Workshop, WISE, Xiamen University, China (2010- 2012). Note, this meeting in 2011, was held in conjunction with the Asia Pacific Meeting of the Economics Science Association.

   Program committee member: 2014 China Meeting of the Econometric Society

   Co-organizer BENC-CEAR Workshop: Recent Advances in Modelling Decision Making under Risk and Uncertainty (2016)



Durham University

• Associate Dean of Research of the Durham University Business School 2017

to present

   Co-director and co-founder of the Behavioural Economics Northeast Cluster (BENC), a joint research cluster between Durham and Newcastle University, 2014 to present.

   Head of the Experimental Methods in Business Research (EMBR) Centre at the Durham University Business School, 2015 to present.

   Director of the Wolfson Extension Experimental Behavioural Laboratory, 2015 to present.

Xiamen University

   Chair of the Faculty Recruiting Committee for WISE, 2009 to 2014.

   Member of the Senior Faculty Committee of the School of Economics 2013 to 2014

   Founding Member of the MOE Key Laboratory in Econometrics, 2010 to 2014.

   Founding Director of the Finance and Experimental Economics Laboratory

(FEEL), 2010 to 2014

National University of Singapore

   Member Department of Economics Recruiting Committee, 2004 to 2006.

   Economics Area Coordinator Department of Business Policy, 2004 to 2006.

   Head of Recruiting Committee (Economics Area) Department of Business Policy, 2005 to 2008.

   Member of Building Committee NUS Business School, 2004 to 2006.

   Collaborator on development and management of the Computational Experimental Behavioral Laboratory, Department of Marketing, 2003 to 2006.


   Member of the DEC Committee Business Policy, 2004 to 2007.

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