Our objective is to engage in innovative research that extends the frontiers of the discipline, contributing to a deeper understanding of how modern economies function, and how they can adapt to future challenges. Our research spans almost all the major sub-fields of economics.
As a Department, we are consistently ranked in the top 30 in the world, and in the top 10 in Europe, for the quality of our research output. For example, we are ranked 20th in the world and 5th in Europe in the most recent Tilburg University ranking of Economics departments, and we are currently 25th in the world, and 6th in Europe, in the most recent QS University Rankings.
In the most recent Research Excellence Framework (REF 2014) to evaluate the research output of UK Universities, Warwick was ranked 4th in the UK, behind only the LSE, UCL and Oxford, on a measure that takes into account both the proportion of faculty submitted and the quality of outputs submitted. In our submission, 45% of our research was rated as 'world -leading' (4*) and a further 51% rated as 'internationally excellent' (3*).
Research in the Department is based in a number of Research Groups, each of which has its own seminar or workshop series. The interests of individual researchers often overlap the Groups; the purpose of the Groups is to allow Department members with similar interests to meet regularly and to support each other's research.
CAGE
Established in 2010 and funded by the ESRC, CAGE conducts policy-driven economics research informed by culture, history and behaviour. We analyse historical and contemporary data to draw out lessons for modern policy.
Find out moreCRETA
CRETA coordinates collaborative research in economic theory, its applications and in multi-disciplinary projects with related disciplines such as applied mathematics, biology, philosophy and political science.
Find out moreQAPEC
QAPEC provides a framework to coordinate collaborative research in quantitative and analytical political economy within the University of Warwick as well as with the Centre’s UK and international networks and partners.
Find out moreDevelopment and History
Members of the Development and Economic History Research Group combine archival data, lab-in-the-field experiments, randomised controlled trials, text analysis, survey and secondary data along with theoretical tools to study issues in development and economic history.
Find out moreEconometrics and Labour
The Econometrics and Labour Research Group covers a wide number of topics within the areas of modern econometric theory and applications, e.g. the econometrics of networks, as well as labour economics, e.g. the economics of education, gender economics, technology and innovation.
Find out moreExperimental and Behavioural Economics
The Experimental and Behavioural Economics Research Group draws its membership from economists based at the Warwick Department of Economics who work in the fields of experimental economics, behavioural economics and/or subjective wellbeing (“Happiness Economics”).
Find out moreMacroeconomics and International Economics
The Macroeconomics and International Economics Research Group consists of faculty and PhD students and its research work centres around macroeconomics, international finance and international trade.
Find out moreMicroeconomic Theory
The Microeconomic Theory Research Group works closely with the Centre for Research in Economic Theory and Its Applications (CRETA). Members of the Group work in economic theory, in its applications, and in multidisciplinary projects with areas such as applied mathematics, biology, philosophy and political science.
Find out morePolitical Economy and Public Economics
The Political Economy and Public Economics Research Group investigates topics from two disciplines which have natural complementarities. Political economy focuses more on the political feasibility of certain policies whereas public economics tries to determine which policies are optimal in every environment.
Find out moreDR@W
An interdisciplinary initiative for researchers at the University interested in experimental and behavioural science with important implications for economics, psychology, management, marketing and statistics.
Find out moreEPEC
The European Political Economy Consortium fosters high-quality research in political economy by facilitating exchange among the leading European centres in political economy. It consists of five founding institutions, including Warwick.
Find out moreEBER (DR@W) Seminar - Ernst Fehr
Title: Obfuscation in Competitive Markets (with Keyu Wu)
Abstract: In many markets, firms increase product complexity through add-on features, which can make the evaluation and comparison of products difficult and thus increase buyers' search cost. Does this product obfuscation limit buyers' search behavior and induce them to buy overpriced products? And if so, why does competition not eliminate obfuscated products? We show - based on competitive experimental markets - that if add-ons merely complicate the products without generating additional surplus, obfuscation via product complexity indeed becomes fragile because buyers display an aversion against complex products. However, in the presence of surplus-enhancing add-ons, obfuscation via product complexity becomes a stable market feature that severely constrains the depth and breadth of buyers' search. Sellers anticipate and take advantage of this by hiding unattractive product features and selling add-ons persistently above marginal cost. Even the most favourably priced product in the market is offered above marginal cost, and buyers persistently fail to find the best product such that inferior products have a good chance of being bought, leading to enduring price dispersion. Surplus-enhancing obfuscation opportunities are the causal driver of persistent profits and price dispersion because if we remove these opportunities, overall prices quickly converge to marginal cost.
