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Professor Graham Loomes

Fax: +44(0)24 7652 3032
Room: 2.112
Office hours:

Research Interests

My research is focused on the analysis of people’s preferences, particularly as they relate to decision making in the face of risk and uncertainty, with policy applications to health, safety and environmental issues. I am interested in incorporating psychological insights into modelling economic behaviour. This involves using experimental methods to test, develop and refine theory; and conducting surveys to address practical policy issues such as the valuation of health, safety and environmental benefits, and interventions in markets. I have undertaken research for a number of government bodies in the UK and elsewhere, and have received funding from the Economic and Social Research Council and the Leverhulme Trust. I am currently an ESRC Professorial Fellow.

My CV can be found in the form of my entry in the ISI Highly Cited list and can be accessed via

Current funded research projects

Modelling Imprecise Preferences and Identifying the Implications for Theory and Policy, ESRC Professorial Fellowship, RES-051-27-0248, 2009-12.

Project 1 – Consumers (with colleagues in the Centre for Competition Policy at the University of East Anglia), part of ESRC funded Centre programme RES-578-28-0002, 2009-14.

Refereed Journal Articles Since 2001

Modelling Choice and Valuation in Decision Experiments (forthcoming in Psychological Review).

The Willingness to Pay-Willingness to Accept Gap, the "Endowment Effect", Subject Misconceptions, and Experimental Procedures for Eliciting Valuations: A Reassessment (with A. Isoni and R. Sugden) (forthcoming in American Economic Review).

Preference Reversals and Disparities between Willingness to Pay and Willingness to Accept in Repeated Markets, (with Chris Starmer and Robert Sugden) (forthcoming in Journal of Economic Psychology

Responsibility, Scale and the Valuation of Rail Safety (with Judith Covey, Angela Robinson and Michael Jones-Lee), Journal of Risk and Uncertainty, 40, 85-108 (2010).

Taste Uncertainty and Status Quo Effects in Consumer Choice, (with Shepley Orr and Robert Sugden), Journal of Risk and Uncertainty, 39, 113-135, (2009).

Trying to Estimate a Monetary Value of a QALY, (with Jose Luis Pinto Prades and Raul Brey), Journal of Health Economics, 28, 553-62, (2009).

Conflicting Violations of Transitivity and Where They May Lead Us, (with Brett Day), Theory and Decision (available in online journal 2 April 2009).

The Sensitivity of Subjective Probability to Time and Elicitation Method, (with Judith Mehta), Journal of Risk and Uncertainty, vol 34, 201-16 (2007).

Imprecision as an Account of the Preference Reversal Phenomenon, (with David Butler), American Economic Review, 97, 277-97, (2007).

Can Ranking Techniques Elicit Robust Values? (with Ian Bateman, Brett Day and Robert Sugden), Journal of Risk and Uncertainty, 34, 49-66, (2007).

(How) Can We Value Health, Safety and the Environment? Journal of Economic Psychology. 27, 713-36, (2006).

Modelling the Stochastic Component of Behaviour in Experiments: Some Issues for the Interpretation of Data, Experimental Economics, 8, 301-23, (2005).

The Willingness To Accept Value of Statistical Life Relative to the Willingness To Pay Value: Evidence and Policy Implications, (with Jagadish Guria, Michael Jones-Lee and Joanne Leung), Environmental and Resource Economics, 32, 113-27, (2005).

Estimating the Intangible Victim Costs of Violent Crime, (with Paul Dolan, Tessa Peasgood and Aki Tsuchiya), British Journal of Criminology, 45, 958-76, (2005).

Do Anomalies Disappear in Repeated Markets? (with Chris Starmer and Robert Sugden), Economic Journal, 113, C153-66, (2003).

A Microeconometric Test of Alternative Stochastic Theories of Risky Choice, (with Peter Moffatt and Robert Sugden), Journal of Risk and Uncertainty, 24, 103-130, (2002).

Public Perceptions of Risk and Preference-Based Values of Safety, (with Susan Chilton, Judith Covey, Lorraine Hopkins, Michael Jones-Lee, Nick Pidgeon and Anne Spencer), Journal of Risk and Uncertainty, 25, 211-32, (2002).

Visual Analog Scales, Standard Gambles and Relative Risk Aversion, (with Angela Robinson and Michael Jones-Lee), Medical Decision Making, 21, 17-27, (2001).