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University of Exeter Business School

Dr Luke Lindsay

Dr Luke Lindsay

Senior Lecturer in Economics


 +44 (0) 1392 725965

 Streatham Court 0.42A


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


Dr Lindsay joined the Business School in September 2013 after having spent three years as a postdoc at the University of Zurich.  He earned his first degree from Balliol College, Oxford and his PhD from the University of Nottingham. 

His recent research has involved using laboratory experiments to investigate decision making, behaviour in markets, and how different market institutions perform.  He has obtained research support from the Economic and Social Research Council and the Swiss National Science Foundation.

Nationality: British


  • BA, MSc, PhD


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Research interests

  • Decision Theory
  • Experimental Economics
  • Market Design

Dr Lindsay’s research focuses on how people make decisions, how people behave in markets, and how different market institutions operate.  The research fits broadly in the fields of behavioural economics and market design.  He has made extensive use of laboratory experiments.  The research is rooted in economics but draws on psychology, computer science, and operations research.  He has investigated the following questions. What are the implications of small stakes risk aversion?  Why does loss aversion appear to vary with market experience?  How can items be reassigned without exposing traders to losses?  How does the design of markets affect price dynamics?  Can the programme for an academic conference be improved by taking into account the preferences of participants?  A common theme of the projects is a focus on dynamics as well as final outcomes and equilibrium. As well as deepening our understanding of economic phenomena, the research programme involves improving the design of market institutions, which has large potential benefits for society.

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Journal articles

Balmford B, Day B, Lindsay DL, Collins DJ, Peacock J (In Press). Pricing Rules for Pes Auctions: Evidence from a Field Experiment. SSRN Electronic Journal
Lindsay L (2019). Adaptive loss aversion and market experience. Journal of Economic Behavior and Organization, 168, 43-61.
Goeree JK, Lindsay L (2019). The Exposure Problem and Market Design. The Review of Economic Studies
Humphrey SJ, Lindsay L, Starmer C (2017). Consumption experience, choice experience and the endowment effect. Journal of the Economic Science Association, 3, 109-120.
Lindsay L (2017). Shapley Value Based Pricing for Auctions and Exchanges. Games and Economic Behavior, 108, 170-181.
Goeree JK, Lindsay L (2016). Market design and the stability of general equilibrium. Journal of Economic Theory, 165, 37-68. Abstract.
Lindsay L (2013). The arguments of utility: Preference reversals in expected utility of income models. Journal of Risk and Uncertainty, 46(2), 175-189. Abstract.
Lindsay L (2011). Correlated Individual Differences and Choice Prediction. Games, 2(1), 16-20. Abstract.

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Dr Lindsay has taught a range of courses.  He has a particular interest in using experiments to teach economics.



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