Staff profile

Prior to joining Durham in 2014, Jason held appointments at University of California – San Diego, National University of Singapore, Xiamen University, and was a research scientist at the IBM TJ Watson Research Lab. He received his B.S. in Mathematical Economics from Tulane University and his PhD. in Economics from the University of Arizona.

Jason researches in the areas of experimental economics, behavioural game theory, behavioural operations management, asset markets, and auctions. International academic journals such as Management Science, Marketing Science, Journal of Economic Theory, Games and Economic Behavior,  and others have published his papers.

He has successfully supervised numerous PhD and Master students with quality placement in academia, industry, and government. He is enthusiastic to collaborate with scholars from around the world who share his passion to use experiments, lab and field, to study human behaviour. For those young scholars with similar interests and desiring to undertake a PhD under his supervision, please feel free to contact him directly.

Mini Biography

Jason joined Durham University as a Professor of Experimental Economics in 2014. Previously he was a faculty member at the University of California – San Diego, the National University of Singapore, and Xiamen University. He was also a technical staff member at the IBM TJ Watson Research Labs.

• Experimental Economics
• Behavioural Game Theory
• Behavioural Operations Management

Chapter in book

• Shachat, J., & Wang, H. (2022). Are you experienced? How the time spacing of traders' market experience impacts bubble formation in experimental asset markets. In S. Füllbrunn, & E. Haruvy (Eds.), Handbook of Experimental Finance (267-280). Edward Elgar Publishing. https://doi.org/10.4337/9781800372337.00028
• Leland, J., Houser, D., & Shachat, J. (2005). Measuring trust and trustworthiness. In H. Höhmann, & F. Welter (Eds.), Trust and Entrepreneurship: A West-East Perspective (87-96). Edward Elgar Publishing

Journal Article

• Peng, Y., Shachat, J., Wei, L., & Sarah Zhang, S. (2023). Speed traps: Algorithmic trader performance under alternative market balances and structures. Experimental Economics, https://doi.org/10.1007/s10683-023-09816-8
• Guo, Y., Shachat, J., Walker, M. J., & Wei, L. (2023). On the generalizability of using mobile devices to conduct economic experiments. Journal of Behavioral and Experimental Economics, 106, Article 102057. https://doi.org/10.1016/j.socec.2023.102057
• Neugebauer, T., Shachat, J., & Szymczak, W. (2023). A test of the Modigliani-Miller theorem, dividend policy and algorithmic arbitrage in experimental asset markets. Journal of Banking and Finance, 154(September), Article 106814. https://doi.org/10.1016/j.jbankfin.2023.106814
• Walker, M. J., Katok, E., & Shachat, J. (2023). Trust and Trustworthiness in Procurement Contracts with Retainage. Management Science, 69(6), 3492–3515. https://doi.org/10.1287/mnsc.2022.4516
• Angerera, M., Neugebauer, T., & Shachat, J. (2023). Arbitrage bots in experimental asset markets. Journal of Economic Behavior and Organization, 206, 262-278. https://doi.org/10.1016/j.jebo.2022.12.004
• Pan, J., Shachat, J., & Wei, S. (2022). Cognitive stress and learning economic order quantity inventory management: An experimental investigation. Decision Analysis, 19(3), 229-254. https://doi.org/10.1287/deca.2022.0450
• Kuroda, M., Li, J., Shachat, J., Wei, L., & Zhu, B. (2022). An experimental study of intra- and international cooperation: Chinese and American play in the Prisoner's Dilemma Game. China Economic Review, 74, Article 101807. https://doi.org/10.1016/j.chieco.2022.101807
• Shachat, J., & Srinivasan, A. (2022). Informational price cascades and non-aggregation of asymmetric information in experimental asset markets. Journal of Behavioral Finance, 23(4), 388-407. https://doi.org/10.1080/15427560.2022.2081970
• Shachat, J., & Tan, L. (2022). How auctioneers set reserve prices in procurement auctions. European Journal of Operational Research, 304(2), 709-728. https://doi.org/10.1016/j.ejor.2022.04.025
• Guo, Y., Shachat, J., Walker, M., & Wei, L. (2021). Viral social media videos can raise pro-social behaviours when an epidemic arises. Journal of the Economic Science Association, 7(2), 120-138. https://doi.org/10.1007/s40881-021-00104-w
• Shachat, J., Walker, M., & Wei, L. (2021). How the onset of the Covid-19 pandemic impacted pro-social behaviour and individual preferences: Experimental evidence from China. Journal of Economic Behavior and Organization, 190, 480-494. https://doi.org/10.1016/j.jebo.2021.08.001
• Gjerstad, S., & Shachat, J. (2021). Individual Rationality and Market Efficiency. Nonlinear Dynamics, Psychology, and Life Sciences, 25(4), 395-406
• Shachat, J., Walker, M., & Wei, L. (2021). The Impact of an Epidemic: Experimental Evidence on Preference Stability from Wuhan. AEA Papers and Proceedings, 111, 302-306. https://doi.org/10.1257/pandp.20211002
• Heinrich, T., & Shachat, J. (2020). The development of risk aversion and prudence in Chinese children and adolescents. Journal of Risk and Uncertainty, 61(3), 263-287. https://doi.org/10.1007/s11166-020-09340-7
• Pan, J., Shachat, J., & Wei, S. (2020). Cognitive reflection and economic order quantity inventory management: An experimental investigation. Managerial and Decision Economics, 41(6), 998-1009. https://doi.org/10.1002/mde.3154
• Smyth, R., Gu, J., Mueller, A., Nielson, I., & Shachat, J. (2019). Improving intergroup relations through actual and imagined contact: Field experiments with Malawian shopkeepers and Chinese migrants. Economic Development and Cultural Change, 68(1), 273-303. https://doi.org/10.1086/700569
• Shachat, J., & Zhang, Z. (2017). The Hayek hypothesis and long run competitive equilibrium: an experimental investigation. The Economic Journal, 127(599), 199-228. https://doi.org/10.1111/ecoj.12249
• Nielsen, I., Gu, J., Shachat, J., Smyth, R., & Peng, Y. (2016). An experimental study of the effect of intergroup contact on attitudes in urban China. Urban Studies, 53(14), 2991-3006. https://doi.org/10.1177/0042098015598730
• Shachat, J., Swarthout, J., & Wei, L. (2015). A Hidden Markov Model for the Detection of Pure and Mixed Strategy Play in Games. Econometric Theory, 31(04), 729-752. https://doi.org/10.1017/s026646661400053x
• Shachat, J., & Tan, L. (2015). An Experimental Investigation of Auctions and Bargaining in Procurement. Management Science, 61(5), 1036-1051. https://doi.org/10.1287/mnsc.2013.1880
• Geng, S., Peng, Y., Shachat, J., & Zhong, H. (2015). Adolescents, Cognitive Ability, and Minimax Play. Economics Letters, 128, 54-58. https://doi.org/10.1016/j.econlet.2015.01.007
• Noussair, C., & Shachat, J. (2014). Experiments on Learning, Methods and Voting. Pacific Economic Review, 19(3), 255-259. https://doi.org/10.1111/1468-0106.12064
• Shachat, J., & Swarthout, J. (2013). Auctioning the Right to Play Ultimatum Games and the Impact on Equilibrium Selection. Games, 4(4), 738-753. https://doi.org/10.3390/g4040738
• Zhang, Z., Chen, G., & Shachat, J. (2013). The Impact of Asymmetric and Public Information on Pricing Bubbles in Experimental Asset Markets
• Shachat, J., & Wei, L. (2012). Procuring Commodities: First-Price Sealed-Bid or English Auctions?. Marketing Science, 31(2), 317-333. https://doi.org/10.1287/mksc.1120.0704
• Shachat, J., & Swarthout, J. (2012). Learning about learning in games through experimental control of strategic interdependence. Journal of Economic Dynamics and Control, 36(3), 383-402. https://doi.org/10.1016/j.jedc.2011.09.007
• Shachat, J., & Swarthout, J. (2010). Procurement Auctions for Differentiated Goods. Decision Analysis, 7(1), 6-22. https://doi.org/10.1287/deca.1090.0159
• Shachat, J., & Westerling, A. (2006). Information aggregation in a catastrophe futures market. Managerial and Decision Economics, 27(6), 477-495. https://doi.org/10.1002/mde.1283
• Shachat, J., & Swarthout, J. (2004). Do we detect and exploit mixed strategy play by opponents?. Mathematical Methods of Operations Research, 59(3), 359-373. https://doi.org/10.1007/s001860400354
• Shachat, J., & Walker, M. (2004). Unobserved heterogeneity and equilibrium: an experimental study of Bayesian and adaptive learning in normal form games. Journal of Economic Theory, 114(2), 280-309. https://doi.org/10.1016/s0022-0531%2803%2900125-x
• Rosenthal, R., Shachat, J., & Walker, M. (2003). Hide and seek in Arizona. International Journal of Game Theory, 32(2), 273-293. https://doi.org/10.1007/s001820300159
• Huang, H., Keser, C., Leland, J., & Shachat, J. (2003). Trust, the Internet, and the digital divide. IBM systems journal, 42(3), 507-518. https://doi.org/10.1147/sj.423.0507
• Shachat, J. (2002). Mixed Strategy Play and the Minimax Hypothesis. Journal of Economic Theory, 104(1), 189-226. https://doi.org/10.1006/jeth.2001.2915
• Wooders, J., & Shachat, J. (2001). On the Irrelevance of Risk Attitudes in Repeated Two-Outcome Games. Games and Economic Behavior, 34(2), 342-363. https://doi.org/10.1006/game.2000.0808
• Cox, J., Shachat, J., & Walker, M. (2001). An Experiment to Evaluate Bayesian Learning of Nash Equilibrium Play. Games and Economic Behavior, 34(1), 11-33. https://doi.org/10.1006/game.1999.0786
• Hoffman, E., Libecap, G., & Shachat, J. (1998). An Experimental Investigation of the Incentives to Form Agricultural Marketing Pools. Journal of Mathematical Psychology, 42(2-3), 287-304. https://doi.org/10.1006/jmps.1998.1216