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Professor David Kelsey

Professor David Kelsey

Professor of Economics


+44 (0) 1392 722536

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

Professor David Kelsey graduated from Oxford University with degrees in mathematics and economics. He has taught at a number of universities including Cambridge, California, Iowa and the Australian National University. His current position is Professor of Economic Theory at the University of Exeter. He has held five ESRC grants during his career.

Nationality: British


MA, MPhil, DPhil Oxon


Research clusters

Research interests

  • Decision theory
  • Financial and economics applications of decision theory
  • Theory of the firm

Research projects

Professor Kelsey is currently researching choice under uncertainty and its applications in economics and finance. In particular how factors such as ambiguity and overconfidence influence behaviour. His 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.

External positions

  • External Examiner, University of Oxford
  • Reviewer for a number of economics journals

  • Finance
  • Industrial organisation
  • Game theory

Financial markets and decisions is mainly concerned with how firms are controlled and financed. In this context some related topics are studied such as moral hazard and choice under risk and uncertainty. Industrial organisation is about competition between small numbers of firms. Game theory is a more abstract theory about strategic interaction between individuals. It has a number of applications in economics, politics and evolutionary biology.