skip to content

The Cambridge-INET Institute - continuing as the Janeway Institute


Microeconomics starts from the premise that phenomena should be understood as a result of individual choices. These choices are determined by the incentives that individuals face, and by the psychological make up of these individuals. Furthermore, competition, coordination and learning are vital in aggregating individual choices, and thereby shaping them into the collective behaviour observed in markets and even whole economies. This theme brings together researchers working on individual and group decision making, bargaining, risk sharing, contracts, behavioural approaches to savings decisions, evolutionary economics, experimental economics and competition among firms. The application of these works has been to diverse areas such as financial markets and banking, epidemiology, trust and social norms, decision making in human organ transplantation. It is hoped that a better understanding of individual choices will allow policy makers to eliminate some of the more obvious design flaws in their policies, and that a better understanding of how these choices interact to determine collective outcomes will help to identify policies that result in more stable collective outcomes (possibly at the expense of sacrificing some features that appear desirable at the individual level).


Hamid Sabourian

Prof. Hamid Sabourian
Professor of Economics and Game Theory

Research Interests
Economic theory and game theory

Christopher Harris

Prof. Christopher Harris
Professor of Economics

Research Interests
Dynamic Games, Dynamic Contracts


Xin  Gao

Dr Xin Gao
Janeway Institute Postdoctoral Research Fellow

Research Interests
Microeconomic Theory, particularly Information Economics and Mechanism Design

Published Papers

Foreign Vulnerabilities, Domestic Risks: The Global Drivers of GDP-at-Risk
Lloyd, S., Manuel, E. and Panchev, K. , (2023), IMF Economic Review

Rather Doomed than Uncertain: Risk Attitudes and Transmissive Behavior Under Asymptomatic Infection
Matthies, K. and Toxvaerd, F.M.O. , (2022), Economic Theory, accepted

On the Management of Population Immunity
Toxvaerd, F.M.O. and Rowthorn, R. , (2022), Journal of Economic Theory

Which Early Withdrawal Penalty Attracts the Most Deposits to a Commitment Savings Account?
Beshears, J., Choi, J. J., Harris, C., Laibson, D., Madri, B. C. and Sakong, J., (2020), Journal of Public Economics

Limited Cognitive Ability and Selective Information Processing
Leung, B. T. K., (2020), Games and Economic Behavior

Breaking the Brexit impasse: Achieving a fair, legitimate and democratic outcome
Aidt, T.S., Chadha, J.S. and Sabourian, H., (2019), National Institute Economic Review


See all the Published Papers for the Information Theme

Janeway Institute Working Papers

Is the EJRA proportionate and therefore justified? A critical review of the EJRA policy at Cambridge
Linton, O. B., Rau, R., Baert, P., Bossaerts, P., Crowcroft, J., Evans, G., Ewart, P., Foley, R., Gay, N., Kattuman, P., Moscoso del Prado Martin, F., Scholtes, S., Sabourian, H., Smith, R. J., (JIWP2417)

The Emergence of Enforcement
Anderlini, L., Felli, L., Piccone, M. , (JIWP2222)

Foreign Vulnerabilities, Domestic Risks: The Global Drivers of GDP-at-Risk
Lloyd, S., Manuel, E. and Panchev, K. , (JIWP2102)


Cambridge-INET Working Papers

Approachability with Discounting
Carmona, G. and Sabourian, H. , (WP2112)

Probabilistic Choice Models
Gair, J. R., Iyer, S. and Velu, C., (WP2104)


See all the Working Papers for the Information Theme


Zaifu Yang
University of York

Economic Theory, Game Theory, Auction/Mechanism Design, Consumer Theory, Financial Economics, Economic Growth, Tax Reform.

Visiting between:
(03 Jun 2019 - 04 Jun 2019)

Host: Hamid Sabourian

Prof Clara Ponsati
University of St Andrews

Game Theory and Public Economics, with interest in negotiations, bargaining, and voting

Visiting between:
(01 Jan 2019 - 14 Jun 2019)

Host: Hamid Sabourian

Prof Larry Blume
Cornel Iniversity

Evolutionary processes in markets and games, Economic theory, Game theory

Visiting between:
(04 May 2018 - 04 May 2018)

Host: Hamid Sabourian

Prof Kalyan Chatterjee
Penn State

Game Theory, Microeconomic Theory, Industrial Organization

Visiting between:
(01 May 2018 - 09 May 2018)

Host: Hamid Sabourian


See all the Visitors for the Information Theme

Past Events

2nd  Symposium on Competition Policy

2nd Symposium on Competition Policy

The 2nd Symposium on Competition Policy was held as a virtual event on 15th May 2020. The Symposium provided a unique opportunity to bring together both researchers and senior practitioners from the public and private sectors to exchange ideas on issues of competition policy and inspire new work on the subject.

Event Date - Friday 15th May 2020

Symposium on Competition Policy

Symposium on Competition Policy

Cambridge-INET & the Bennett Institute for Public Policy are holding an event "Symposium on Competition Policy" on 17th May 2019, from 9.00am - 5.00pm, in Clare College, Cambridge.

Event Date - Friday 17th May 2019

Economic Theory Workshop

Economic Theory Workshop

Cambridge-INET is hosting an Economic Theory Workshop on the 1st - 3rd May 2018, starting at 12.00pm (on the 1st) and finishing at 5.00pm (on the 3rd), in the Keynes Hall, King's College, Cambridge.

Event Date - Tuesday 1st May 2018 - Thursday 3rd May 2018

Keynes Fund & Cambridge-INET Research Days

Keynes Fund & Cambridge-INET Research Days

The Keynes Fund & Cambridge-INET Research days will be held on the 14th and 15th June 2016, in Meade Room, Faculty of Economics.

Event Date - Friday 1st July 2016

See all the Past Events for the Information Theme


Herd Immunity – Crucial Yet Irrelevant

Herd Immunity – Crucial Yet Irrelevant

Dr. Flavio Toxvaerd has published a new Bennett Institute for Public Policy blog "Herd Immunity – Crucial Yet Irrelevant" and working paper "On the Management of Population Immunity" (joint with Prof. Robert Rowthorn). Both the paper and blog look at the use of costly treatments or vaccinations on infectious diseases and the idea that once immune, individuals indirectly protect the remaining susceptibles, who benefit from a measure of herd immunity.

Published on - Tuesday 18th August 2020

What to do if COVID-19 is Here to Stay

What to do if COVID-19 is Here to Stay

Dr. Chryssi Giannitsarou and Flavio Toxvaerd have published an article for VOXeu titled "What To Do If COVID-19 Is Here To Stay". This column considers the possibility that immunity is only temporary, which in practice, means that partial lockdowns and social distancing measures may be the norm for years to come.

Published on - Monday 20th July 2020

Symposium on Competition Policy

Symposium on Competition Policy

Dr. Flavio Toxvaerd organised a Symposium on Competition Policy at Clare College Cambridge, on the 17th of May 2019. The Bennett Institute have added videos of the days presentations to their website.

Published on - Thursday 18th July 2019

5 Years Cambridge-INET

5 Years Cambridge-INET

Cambridge-INET is hosting a series of high profile events to mark the 5th anniversary of the Cambridge Institute for New Economic Thinking.

Published on - Tuesday 1st May 2018

See all News