Prof Tim Worrall

Tim Worrall is Professor of Economics and Deputy Head of the School of Economics.

Tim Worrall
  • Prof Tim Worrall
  • Room 3.09, 31 Buccleuch Place
  • Work: +44 (0)131 651 5128
Tim Worrall's home page
Areas of interest
Contract theory
Risk and uncertainty
Network Design
Game theory

Research Interests

Contract Theory; Risk and Uncertainty; Network Design.


Educated at Liverpool and Essex Universities and graduated with a PhD in Economics from Liverpool University in 1983. Previously a member of Professor Frank Hahn's ESRC project on Risk, Information and Quantity Signals in Economics at Cambridge University 1983-85 and part of the DFG Sonderforschungsbereich 178 on the Internationalization of the World Economy at Konstanz and Kiel Universities, 1987-1990. Also Assistant Professor at the University of Western Ontario, Reading University and Liverpool University, Professor of Economics at Keele University 1996-2008 and Hallsworth Fellow in Political Economy at the University of Manchester 2008-11.

His principal research interests (with corresponding JEL classification) are:

  • Game Theory and Bargaining Theory (C7);
  • Market Structure and Pricing (D4);
  • Information and Uncertainty (D8);
  • Intertemporal Choice and Growth (D9);
  • Consumption, Saving, Production, Employment and Investment (E2);
  • Financial Markets (G1);
  • Corporate Finance and Governance (G3);
  • Regulation and Industrial Policy (L5).

His primary teaching interests are in economic theory, industrial organisation, game theory, asset pricing, derivatives and risk management.

Selected Publications

  • Cost Padding in Regulated Monopolies (with Spiros Bougheas), International Journal of Industrial Organization, July, 2012, Volume 30(5), pages 331-341.
  • Limited commitment models of the labour (with Jonathan Thomas), Scottish Journal of Political Economy, November, 2007, Volume 54 (5), pages 750-773.
  • Unemployment insurance under moral hazard and limited commitment: Public versus private provision (with Jonathan Thomas), Journal of Public Economic Theory, February, 2007, Volume 9, (1) pages 151-181.
  • Gift-giving, quasi-credit and reciprocity (with Jonathan Thomas), Rationality and Society, August, 2002, Volume 14, (3), pages 307-351.
  • Mutual insurance and limited commitment: Theory and evidence from village economies (with Ethan Ligon and Jonathan Thomas), Review of Economic Studies, January, 2002 69 (1), pages 209-244.
  • Mutual insurance, individual savings and limited commitment (with Ethan Ligon and Jonathan Thomas), Review of Economic Dynamics April, 2000, Volume 3 (2), pages 216-246.

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