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University of Exeter Business School

Professor Miguel Fonseca

Professor Miguel Fonseca

Associate Professor of Economics


 +44 (0) 1392 722584

 Streatham Court 0.42b


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


Dr Miguel Fonseca joined the Business School in September 2007 from Columbia University, where he had spent the previous two years as a post-doctoral researcher. Miguel’s current research interests are on tacit and explicit collusion; social identity and its effect on public good provision and bargaining. Dr Fonseca has obtained research support from the ESRC, the British Academy and the Nuffield Foundation.

Nationality: Portuguese, British


BSc, MSc, PhD, Royal Holloway, University of London


Research group links

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Research interests

  • Experimental economics
  • Industrial organisation
  • Public economics

Dr Fonseca‘s research focuses on using experimental methods to study behaviour in microeconomic models. He is interested specifically in issues relating to industrial economics, public economics, game theory and the effect of group membership on individual behaviour.

Research projects

Dr Fonseca's current research includes the study of:

  • tacit and explicit collusion in experimental markets
  • the role of social context in simple bargaining games
  • the role of social identity in public good provision, and
  • the study of perceptions of climate change using prediction markets.

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Journal articles

Fonseca MA, Makris M, Giovannoni F (In Press). Auctions with External Incentives: Experimental Evidence. International Journal of Game Theory
Fonseca MA (In Press). Do in-group biases lead to overconfidence in performance? Experimental evidence. Journal of Behavioral and Experimental Economics
Fonseca MA, Chen J, Zhang X (In Press). How Much will Climate Change Reduce Productivity in a High-Technology Supply Chain? Evidence from Silicon Wafer Manufacturing. Environmental and Resource Economics
Fonseca M, Peters K (In Press). Is it Costly to Deceive? People Are Adept at Detecting Gossipers’ Lies but May Not Reward Honesty. Philosophical Transactions of the Royal Society B: Biological Sciences
Fonseca MA (In Press). Mergers, Asymmetries and Collusion: Experimental Evidence. Economic Journal(118), 387-400.
Chakravarty S, Choo L, Fonseca M, Kaplan T (In Press). Should regulators always be transparent? a bank run experiment. European Economic Review
Fonseca MA, Rahimi L (In Press). The effects of income windfalls on labour supply and tax compliance: experimental evidence. Review of Behavioral Economics
Mulder LB, Kurz T, Prosser AMB, Fonseca MA (2024). The presence of laws and mandates is associated with increased social norm enforcement. Journal of Economic Psychology, 101, 102703-102703.
Fonseca MA, Gonçalves R, Pinho J, Tabacco GA (2022). How do antitrust regimes impact on cartel formation and managers’ labor market? an experiment. Journal of Economic Behavior & Organization, 204, 643-662.
Chen JC, Fonseca MA, Grimshaw SB (2021). When a nudge is (not) enough: Experiments on social information and incentives. European Economic Review, 134, 103711-103711.
Auerbach JU, Fonseca MA (2020). Preordered Service in Contract Enforcement. Games and Economic Behavior, 122, 130-149.
Peters K, Fonseca MA (2020). Truth, Lies and Gossip. Psychological Science
Fonseca MA (2019). Endogenous Price Leadership with Asymmetric Costs: Experimental Evidence. Studies in Microeconomics, 7(1), 59-74. Abstract.
Chakravarty S, Fonseca MA, Ghosh S, Kumar P, Marjit S (2019). Religious fragmentation, social identity and other-regarding preferences: Evidence from an artefactual field experiment in India. Journal of Behavioral and Experimental Economics, 82 Abstract.
Steffens NK, Fonseca MA, Ryan MK, Rink FA, Stoker JI, Nederveen Pieterse A (2018). How feedback about leadership potential impacts ambition, organizational commitment, and performance. Leadership Quarterly, 29(6), 637-647. Abstract.
Fonseca M, Normann HT, Li Y (2018). Why factors facilitating collusion may not predict cartel occurrence — experimental evidence. Southern Economic Journal
Fonseca MA, Peters K (2018). Will any gossip do? Gossip does not need to be perfectly accurate to promote trust. Games and Economic Behavior, 107, 253-281.
Fonseca MA, Grimshaw SB (2017). Do Behavioral Nudges in Prepopulated Tax Forms Affect Compliance? Experimental Evidence with Real Taxpayers. Journal of Public Policy & Marketing, 36(2), 213-226. Abstract.
Choo CYL, Fonseca MA, Myles GD (2016). Do students behave like real taxpayers in the lab? Evidence from a real effort tax compliance experiment. Journal of Economic Behavior & Organization, 124, 102-114.
Gonçalves R, Fonseca MA (2016). Learning through Simultaneous Play: Evidence from Penny Auctions. Journal of Economics & Management Strategy, 25(4), 1040-1059. Abstract.
Chakravarty S, Fonseca MA, Ghosh S, Marjit S (2016). Religious Fragmentation, Social Identity and Conflict: Evidence from an Artefactual Field Experiment in India. PLOS ONE, 11(10), e0164708-e0164708.
Chakravarty S, Fonseca MA, Ghosh S, Marjit S (2016). Religious fragmentation, social identity and cooperation: Evidence from an artefactual field experiment in India. European Economic Review, 90, 265-279.
Fonseca MA, Chakravarty S (2015). Discrimination via Exclusion: an Experiment on Group Identity and Club Goods. Journal of Public Economic Theory
Kurz T, Thomas WE, Fonseca MA (2014). A fine is a more effective financial deterrent when framed retributively and extracted publicly. Journal of Experimental Social Psychology, 54, 170-177. Abstract.
Chakravarty S, Fonseca MA, Kaplan TR (2014). An Experiment on the Causes of Bank Run Contagions. European Economic Review, 72, 39-51.
Fonseca MA, Normann HT (2014). Endogenous Cartel Formation: Experimental Evidence. Economics Letters, 125(2), 223-225.
Chakravarty S, Fonseca MA (2014). The Effect of Social Fragmentation on Public Good Provision: an Experimental Study. Journal of Behavioral and Experimental Economics, 53, 1-9.
Fonseca MA, Normann H-T (2013). Excess Capacity and Pricing in Bertrand-Edgeworth Markets: Experimental Evidence. Journal of Institutional and Theoretical Economics, 169(2), 199-199.
Hueffer K, Fonseca MA, Leiserowitz A, Taylor KM (2013). The wisdom of crowds: Predicting a weather and climate-related event. Judgment and Decision Making, 8(2), 91-105.
Peters K, Haslam SA, Ryan MK, Fonseca M (2013). Working with Subgroup Identities to Build Organizational Identification and Support for Organizational Strategy: a Test of the ASPIRe Model. Group and Organization Management, 38(1), 128-144. Abstract.
Fonseca MA, Pfaff A, Osgood D (2012). An Advantage of Resource Queues over Spot Markets: Decision Coordination in Experiments with Resource Uncertainty. American Journal of Agricultural Economics, 94(5), 1136-1153.
Fonseca MA, Normann HT (2012). Explicit vs. Tacit Collusion – the Impact of Communication in Oligopoly Experiments. European Economic Review, 56, 1759-1772.
Fonseca MA (2009). An Experimental Investigation of Asymmetric Contests. International Journal of Industrial Organization, 27(5), 582-591.
Fonseca MA, Normann HT (2008). Mergers, Asymmetries and Collusion: Experimental Evidence. Economic Journal, 118, 387-400.
Fonseca MA, Normann HT (2008). Unilateral and Coordinated Effects of Mergers: Experimental Evidence. Economic Journal, 188, 387-400.
Fonseca MA, Normann HT, Mueller W (2006). Endogenous Timing in Duopoly: Experimental Evidence. International Journal of Game Theory, 34, 443-456.
Fonseca MA, Huck S (2005). Playing Cournot Although They Shouldn't: Endogenous Timing in Experimental Duopolies with Asymmetric Cost. Economic Theory, 25, 669-677.


Peters K, Fonseca MA, Haslam SA, Steffens NK, Quiggin J (2019). Fat cats and thin followers: Excessive CEO pay may reduce ability to lead. In  (Ed) The Social Psychology of Inequality, 21-34.

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External Engagement and Impact

Awards and Honours

  • 2013-14: HMRC Research Contract, £84,000 (Co-Investigator)
  • 2013-18: ESRC/HMRC Tax Administration Research Center £1.58 million (Co-Investigator)
  • 2012-14: ESRC/DfID £92,731 (Principal Investigator)
  • 2012: HRMC Research Contract, £79,836 (Co-Investigator)
  • 2010-11: British Academy, £5,880 (Principal Investigator)
  • 2010-12: ESRC, £25,396 (Principal Investigator)
  • 2009-10: Nuffield Foundation, £2,888 (Principal Investigator)
  • 2006-07: Tinker Foundation, $140,000 (Co-Investigator)

External positions

  • Affiliate Researcher at the Center for Research on Environmental Decisions (CRED) - Columbia University.

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  • Experimental economics
  • Microeconomics
  • Industrial economics



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