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Professor Dieter Balkenborg

Professor Dieter Balkenborg

Associate Professor of Economics

3231

+44 (0) 1392 723231

0.45
Streatham Court, University of Exeter, Rennes Drive, Exeter, EX4 4PU, UK

Dieter Balkenborg is Associate Professor /Reader of Economics in the University of Exeter Business School.

He graduated in 1985 with a distinction in Mathematics at the University of Bonn, with a thesis written under the supervision of Egbert Briekorn, containing new results on the hierarchy of bimodular hypersurface singularities. He then studied Economics in Bonn and at the LSE. In 1987, he obtained an MSc in Quantitative Economics and Econometrics (with distinction) from the LSE.

Professor Balkenborg was introduced to game theory by Reinhard Selten (Economics Noble prize winner for his contributions to game theory), Ken Binmore CBE, Eric van Damme and Avner Shaked. During his postgraduate studies, he worked as research assistant for Shaked and at the Bonn Laboratory of Experimental Economics for Selten. He obtained his Dr rer pol (PhD) ‘summa cum laude’ in 1992 with the thesis ‘Properties of Persistent Retracts’, written on game theoretic solution concepts under the supervision of Selten.

He then worked for a year as a lecturer in Pennsylvania and then as a PostDoc at the Center for Rationality and Interactive Decision Theory at the Hebrew University of Jerusalem. After a two-year return to Bonn, he moved to England. At the University of Southampton, he worked for Alistair Ulph as a research fellow on two ESRC projects in Environmental Economics. He has worked at the University of Exeter since 1998.

He is the joint Director and co-founder (with Professor Todd Kaplan) of the Finance and Economics Experimental Laboratory at Exeter (FEELE). Established in 2004, the laboratory has been used by researchers from all over the UK to conduct experiments on trust games, auctions, and so on. Professor Balkenborg obtained HEFCE funding for the FDTL5 project ‘Bringing Economic Experiments into the Classroom’, extending the use of FEELE to support teaching and learning. In particular, the FEELE website now offers 15 interactive computerised experiments which are used worldwide. Along with research officer for the lab, Tim Miller, Professor Balkenborg recently obtained the eLearning prize in the Economics Network Annual Teaching and Learning Awards 2009.

Nationality: German

Administrative responsibilities

  • Co-director of FEELE lab

Qualifications

Diplom Mathematik (equivalent to Master of Research in Mathematics) (Bonn), MSc in Quantitative Economics and Econometrics (LSE), Doktor rer. pol. (equivalent to PhD in Economics) (Bonn)

Research clusters

Research interests

  • Game Theory, in particular Evolutionary Game Theory
  • Experimental Economics 
  • Environmental Economics

Professor Balkenborg’s main research interest concerns the foundations of Game Theory, in particular the role of rationality and the role of equilibrium concepts for the theory. He worked on these questions both theoretically and experimentally. He has worked, in particular, on the theory of evolutionary stable sets, which are relevant for social sciences (learning in social conflict situations), and biology (theory of evolution). His experimental research centred on the comparison of how well different theories of equilibrium selection predict behaviour in the lab. He has also worked in environmental economics, where he studied the incentive effects of liability laws.

Current research activity

Professor Balkenborg’s theoretical work on evolutionarily stable sets is ongoing. With Miguel Fonseca he works on an experimental project studying how fairness attitudes in bargaining games are affected by social context.

Professor Balkenborg is jointly supervising PhD student Saraswati Talloo (Experimental Economics). He has just published with her an article on the behaviour in signalling games.

Grants

  • Grant by the Nuffield Foundation for the project “Fairness, Bargaining and social Context” (2010, with Miguel Fonseca, £5,000)
  • Specialized leader for “Experimental Economics” for the project “Teaching Resources for Undergraduate Economics (TRUE)” for the Economics Network financed by HEFCE (2010, £10,000)
  • FDTL5 grant for the project “Bringing Economic Experiments to the Classroom” (with Todd Kaplan, 2004, £150,000).
  • Research and travel grants by the British Academy for the project “Experiments on Repeated Zero Sum Games with Incomplete Information” (with Todd Kaplan and Shmuel Zamir, 2004, £10,000).
  • University Grant of £75.000 to establish jointly with Todd Kaplan a laboratory for experimental finance and economics (with Todd Kaplan, 2003, £75,000).

Key publications | Publications by category | Publications by year

Key publications


Balkenborg D, Makris M (2015). An undominated mechanism for a class of informed principal problems with common values. Journal of Economic Theory, 157, 918-958. Abstract.  Full text.

Publications by category


Journal articles

Balkenborg D, Nagel R (2016). An Experiment on Forward vs. Backward Induction: How Fairness and Level k Reasoning Matter. German Economic Review, 17(3), 378-408. Full text.
Balkenborg D, Vermeulen D (2016). Where strategic and evolutionary stability depart – a study of minimal diversity games. Mathematics of Operations Research, 41(1), 278-292. Abstract.  Full text.
Balkenborg D, Makris M (2015). An undominated mechanism for a class of informed principal problems with common values. Journal of Economic Theory, 157, 918-958. Abstract.  Full text.
Balkenborg D, Hofbauer J, Kuzmics C (2015). The refined best-response correspondence in normal form games. International Journal of Game Theory, 44(1), 165-193. Abstract.  Full text.
Balkenborg D, Vermeulen D (2014). Universality of Nash components. Games and Economic Behavior, 86, 67-76. Abstract.  Full text.
Balkenborg D, Hofbauer J, Kuzmics C (2013). Refined best reply correspondence and dynamics. Theoretical Economics, 8, 165-192. Abstract.  Full text.
Balkenborg D, Kaplan T, Miller T (2012). A Simple Economic Teaching Experiment on the Hold-Up Problem. The Journal of Economic Education, 43(4), 377-385. Abstract.
Ishizaka A, Balkenborg D, Kaplan T (2011). Does AHP help us make a choice? an experimental evaluation. Journal of the Operational Research Society, 62(10), 1801-1812. Abstract.  Full text.
Balkenborg D, Ishizaka A, Kaplan T (2011). Influence of aggregation and measurement scale on ranking a compromise alternative in AHP. JORS (Journal of the Operations Research Society), 62(4), 700-710. Abstract.  Full text.
Balkenborg D, Kaplan T, Miller T (2011). Teaching bank runs with classroom experiments. Journal of Economic Education, 42(3), 224-242. Abstract.
Balkenborg D, Kaplan T (2010). Using Economic Classroom Experiments. International Review of Economics Education, 9(2), 99-106. Abstract.  Full text.
Balkenborg D, Schlag KH (2007). On the evolutionary selection of sets of Nash equilibria. Journal of Economic Theory, 133(1), 295-315. Full text.
Balkenborg D, Schlag KH (2001). Evolutionarily Stable Sets. International Journal of Game Theory, 29(4), 571-595.
Balkenborg D (2001). How Liable Should a Lender be? the Case of Judgment Proof Firms and Environmental Risk. American Economic Review, 91(3), 731-738.
Balkenborg D, Jansen M, Vermeulen D (2001). Invariance Properties of Persistent Equilibria and Related Concepts. Mathematical Social Sciences, 41(1), 111-130.
Balkenborg D, Winter E (1997). A necessary and sufficient epistemic condition for playing backward induction. Journal of Mathematical Economics, 27(3), 325-345. Abstract.
Rosenmüller J, Balkenborg D, Lorenz H, Piggott J, Gieseck A, Gächter S, Börsch-Supan A, Jenkins S, Tichy G, Laski K, et al (1993). Book reviews. Journal of Economics Zeitschrift für Nationalökonomie, 58(3), 307-337.
Balkenborg D (1993). Game Equilibrium-Models Vol 3. Strategic Bargaining. Journal of Economics, 58(3), 309-312.
Balkenborg D (1991). Unique solutions to strategic games - equilibrium selection based on resistance avoidance. Journal of Economics, 53(2), 216-219.

Chapters

Balkenborg D, Talloo D (2010). Deviations from Equilibrium in an Experiment on Signalling Games: First Results. In Sadrieh A, Ockenfels A (Eds.) The Selten School of Behavioral Economics, Springer, 73-88.  Abstract.
Balkenborg D (2006). Judgement-proofness and extended liability in the presence of adverse selection. In Boyer M, Hiriart Y, Martimort D (Eds.) Frontiers in the Economics of Environmental Regulation and Liability, Ashgate Pub Co. Abstract.  Author URL.

Publications by year


2016

Balkenborg D, Nagel R (2016). An Experiment on Forward vs. Backward Induction: How Fairness and Level k Reasoning Matter. German Economic Review, 17(3), 378-408. Full text.
Balkenborg D, Vermeulen D (2016). Where strategic and evolutionary stability depart – a study of minimal diversity games. Mathematics of Operations Research, 41(1), 278-292. Abstract.  Full text.

2015

Balkenborg D, Makris M (2015). An undominated mechanism for a class of informed principal problems with common values. Journal of Economic Theory, 157, 918-958. Abstract.  Full text.
Balkenborg D, Hofbauer J, Kuzmics C (2015). The refined best-response correspondence in normal form games. International Journal of Game Theory, 44(1), 165-193. Abstract.  Full text.

2014

Balkenborg D, Vermeulen D (2014). Universality of Nash components. Games and Economic Behavior, 86, 67-76. Abstract.  Full text.

2013

Balkenborg D, Hofbauer J, Kuzmics C (2013). Refined best reply correspondence and dynamics. Theoretical Economics, 8, 165-192. Abstract.  Full text.

2012

Balkenborg D, Kaplan T, Miller T (2012). A Simple Economic Teaching Experiment on the Hold-Up Problem. The Journal of Economic Education, 43(4), 377-385. Abstract.

2011

Ishizaka A, Balkenborg D, Kaplan T (2011). Does AHP help us make a choice? an experimental evaluation. Journal of the Operational Research Society, 62(10), 1801-1812. Abstract.  Full text.
Balkenborg D, Ishizaka A, Kaplan T (2011). Influence of aggregation and measurement scale on ranking a compromise alternative in AHP. JORS (Journal of the Operations Research Society), 62(4), 700-710. Abstract.  Full text.
Balkenborg D, Fonseca M (2011). Out of Sight, Out of Mind: an Experimental Investigation on Fairness, Bargaining and Social Context.
Balkenborg D, Kaplan T, Miller T (2011). Teaching bank runs with classroom experiments. Journal of Economic Education, 42(3), 224-242. Abstract.

2010

Balkenborg D, Talloo D (2010). Deviations from Equilibrium in an Experiment on Signalling Games: First Results. In Sadrieh A, Ockenfels A (Eds.) The Selten School of Behavioral Economics, Springer, 73-88.  Abstract.
Balkenborg D, Kaplan T (2010). Using Economic Classroom Experiments. International Review of Economics Education, 9(2), 99-106. Abstract.  Full text.

2009

Balkenborg D, Makris M (2009). Neutral Optima in Informed Principal Problems with Common Values.  Full text.

2007

Balkenborg D, Schlag KH (2007). On the evolutionary selection of sets of Nash equilibria. Journal of Economic Theory, 133(1), 295-315. Full text.

2006

Balkenborg D (2006). Judgement-proofness and extended liability in the presence of adverse selection. In Boyer M, Hiriart Y, Martimort D (Eds.) Frontiers in the Economics of Environmental Regulation and Liability, Ashgate Pub Co. Abstract.  Author URL.

2001

Balkenborg D, Schlag KH (2001). Evolutionarily Stable Sets. International Journal of Game Theory, 29(4), 571-595.
Balkenborg D (2001). How Liable Should a Lender be? the Case of Judgment Proof Firms and Environmental Risk. American Economic Review, 91(3), 731-738.
Balkenborg D, Jansen M, Vermeulen D (2001). Invariance Properties of Persistent Equilibria and Related Concepts. Mathematical Social Sciences, 41(1), 111-130.

1997

Balkenborg D, Winter E (1997). A necessary and sufficient epistemic condition for playing backward induction. Journal of Mathematical Economics, 27(3), 325-345. Abstract.

1993

Rosenmüller J, Balkenborg D, Lorenz H, Piggott J, Gieseck A, Gächter S, Börsch-Supan A, Jenkins S, Tichy G, Laski K, et al (1993). Book reviews. Journal of Economics Zeitschrift für Nationalökonomie, 58(3), 307-337.
Balkenborg D (1993). Game Equilibrium-Models Vol 3. Strategic Bargaining. Journal of Economics, 58(3), 309-312.

1991

Balkenborg D (1991). Unique solutions to strategic games - equilibrium selection based on resistance avoidance. Journal of Economics, 53(2), 216-219.

Conferences and invited presentations

Invited speaker

  1. European Regional Meeting of the Economic Science Association, Nottingham, July 2006.
  2. Royal Economic Society Conference, University of Warwick, April 2007.
  3. Developments in Economics Education (DEE), Conference of the Economics Network, Cambridge, September 2007. 
  4. Developments in Economics Education (DEE), Conference of the Economics Network, Cardiff, September 2009.

At professional meetings, conferences and summer schools

  1. 5th Meeting of the ‘Gesellschaft für experimentelle Wirtschaftsforschung’ (Society for Experimental Economics), Frankfurt am Main, November 1989.
  2. Winter Symposium of the Econometric Society, Nadarzyn, Warsaw, Poland, 16-19 January 1990.
  3. Jerusalem Summer School For Economic Theory, Jerusalem, June 1990.
  4. ‘Summer in Tel Aviv’, Workshop in Economic Theory, Tel Aviv University, July 1991.
  5. Econometric Society Meeting, Cambridge, September 1991.
  6. International Conference on Game Theory, SUNY at Stony Brook, July 1992.
  7. International Conference on Game Theory, SUNY at Stony Brook, July 1993.
  8. Conference on Evolutionary Game Theory in Biology and Economics, Waterloo, Canada, August 1995.
  9. Annual Meeting of the Verein für Socialpolitik, Kassel, Germany, September 1996.
  10. Second Conference on the Logic and the Foundation of the Theory of Games and Decisions, Torino, Italy, December 1996.
  11. Workshop on Dynamic Games, Warwick, July 1997.
  12. European Congress on Environmental and Resource Economics, Tilburg, September 1997.
  13. World Congress of Environmental and Resource Economics, Venice, July 1998.
  14. Royal Economic Society Conference, University of Warwick, April 1998.
  15. World Congress of Environmental and Resource Economics, Venice, July 1998.
  16. ESRC Workshop on Game Theory, London, September 1998.
  17. European Meeting of the Econometric Society, Berlin, September 1998.
  18. Games 2000 (First World Congress of the Game Theory Society), Bilbao, July 2000.
  19. Conference on Regulation, Liability and the Management of Major Industrial / Environmental Risks, Toulouse, June 2003.
  20. Games 2004, Second World Congress of the Game Theory Society, Marseille, July 2004. 
  21. European Congress of Environmental and Resource Economics, Budapest, July 2004. 
  22. 2nd Conference on Regulation, Liability and the Management of Major Industrial/Environmental Risks, Montreal, September 2005.
  23. Developments in Economics and Business Education (DEBE), Conference of the Economics Network, Cambridge, September 2005.
  24. Workshop on boundedly rational behavior in economics in honor of Reinhard Selten, Maria Laach, 2006.
  25. Royal Economic Society Conference, University of Warwick, April 2007.
  26. World Congress of the Economic Science Association, Luiss, Rome, June 2007.
  27. European Meeting of the Econometric Society, Budapest, September 2007.
  28. Games 2008, Third World Congress of the Game Theory Society, Chicago 2008.
  29. Scientific Excursions with Reinhard Selten, Workshop on Boundedly Rational Behavior in Economics, Waldau, Bonn, May 2009.
  30. 9th SAET Conference on current Trends in Economics, Ischia, Italy, June 2009. 
  31. Economic Science Association World Meeting, Copenhagen, Denmark, July, 2010.
  32. 10th SAET Conference on Current Trends in Economics, Singapore, August 2010.

At research seminars

  • University of Aberdeen, Department of Economics
  • Birkbeck College
  • University of Bonn, Department of Economics
  • University of Cardiff, Business School
  • University of Duisburg, Department of Mathematics
  • The Hebrew University of Jerusalem, Department of Economics and Center for Rationality and Decision Theory
  • Pennsylvania State University, Department of Economics
  • Universitat Pompeu Fabra
  • University College London, Department of Economics
  • University of Newcastle upon Tyne, Department of Economics
  • University of Maastricht, Department of Quantitative Economics
  • University of Pennsylvania, Department of Economics
  • University of Reading, Department of Economics
  • University of Southampton, Department of Economics
  • Institute for Advanced Studies, Vienna
  • University of Warwick, Department of Economics
  • Polish Academy of Science, Warsaw, Institute of Computer Science
  • Royal Holloway College, Department of Economics, Egham
  • European University Institute, Florence, Department of Economics
  • University of Swansea, Department of Economics
  • University of Nottingham, Department of Economics
  • University of York, Department of Economics
  • University of Exeter, Department of Mathematics

External positions

  • Member of the Scientific Committee of the AREP / SABE / ICABEEP Conference 2011; Exeter, 12th-16th July
  • Associate of the Higher Education Academy Economics Network
  • External examiner in Microeconomics for the MRes Economics programme at the LSE
  • Member of the Scientific Committee for the Second Toulouse-Montréal Conference on the Law, Economics and Management of Large-Scale Technological Risks held in Montréal, 30 September - 1 October 2005

I have taught Microeconomics, Game Theory, Experimental Economics and Mathematics over many years and I enjoy it. We use the most recent teaching technologies developments because it makes teaching more fun and more valuable for teachers and learners.  With my colleague Todd Kaplan I have been holding a prestigious FDTL grant of the Higher Education Academy to introduce teaching experiments into the curriculum. In our experience participation in teaching experiments makes it easier for students to grasp the often abstract economic concepts we teach. As the results of these efforts I obtained the e-Learning award of the Economic Network 2009 jointly with Todd Kaplan and Tim Miller (who ingeniously programmed the interactive experiments available on our FEELE web site). Due to my use of teaching experiments I also was runner-up in the category “Most Innovative Teacher of the Year 2010” at the Business School.

Modules

2016/17