Title: Distinguished Professor of  Economics     Nationality: USA

Email: jason@swufe.edu.cn

Website: http://www.jasonshachat.org

Office: Room 302, HongYuan Building, LiuLin Campus, SWUFE

Research Interests

Experimental Economics, Behavioural Game Theory, Behavioural Operations Management, Asset Markets, Auctions

Education

PhD Economics, The University of Arizona       1997

BS Mathematical Economics, Tulane University       1988

Academic positions

Distinguished Professor of  Economics, Southwestern University of Finance & Economics        2026-present

Professor of Experimental Economics, Durham University      2014-2025

Full Professor, Xiamen University       2009-2014

Associate Professor, National University of Singapore      2003-2009

Assistant Professor, University of California      1996-2001

Publications

Refereed Journal Articles

1. 1. Heufer, J., J. Shachat, and Y. Xu (2025). Measuring Tastes for Equity and Aggregate Wealth Behind the Veil of Ignorance. Games and Economic Behaviour 153,  209-232.

2. 2. Peng, Y., J. Shachat, L. Wei, and S. S. Zhang (2024). Speed Traps: Algorithmic Trader Performance under Alternative Market Structures. Experimental Economics 27(2), 325–350.

3. 3. Shachat, J., M. J. Walker, and L. Wei (2024). Contingent Payments in Procurement Interactions: Experimental Evidence. European Economic Review 170, 104886.

4. 4. Angerer, M., T. Neugebauer, and J. Shachat (2023). Arbitrage Bots in Experimental Asset Markets. Journal of Economic Behavior & Organization 206, 262–278.

5. 5. Guo, Y., J. Shachat, M. J. Walker, and L. Wei (2023). On the generalizability of using mobile devices to conduct economic experiments. Journal of Behavioral and Experimental Economics 106, 1–11.

6. 6. Neugebauer, T., J. Shachat, and W. Szymczak (2023). A Test of the Modigliani-Miller Theorem, Dividend Policy and Algorithmic Arbitrage in Experimental Asset Markets. Journal of Banking and Finance, 106814.

7. 7. Shachat, J. and L. Tan (2023). How Auctioneers Set Reserve Prices in Procurement Auctions. European Journal of Operational Research 304(2), 709–728.

8. 8. Walker, M. J., E. Katok, and J. Shachat (2023). Trust and trustworthiness in procurement contracts with retainage. Management Science 69(6), 3492–3515.

9. 9. Kuroda, M., J. Li, J. Shachat, L. Wei, and B. Zhu (2022). An Experimental Study of Intra- and International Cooperation: Chinese and American Play in the Prisoners Dilemma Game. China Economic Review 74, 101807.

10. 10. Pan, J., J. Shachat, and S. Wei (2022). Cognitive Stress and Learning Economic Order Quantity (EOQ) Inventory Management: An Experimental Investigation. Decision Analysis 19(3), 229–254.

11. 11. Shachat, J. and A. Srivinasan (2022). Informational Price Cascades and NonAggregation of Asymmetric Information in Experimental Asset Markets. Journal of Behavioral Finance 23(4), 388–407.

12. 12. Gjerstad, S. and J. Shachat (2021). Individual Rationality and Market Efficiency. Nonlinear Dynamics, Psychology, and Life Sciences 25(4), 395–406.

13. 13. Guo, Y., J. Shachat, M. J. Walker, and L. Wei (2021). Viral Social Media Videos can Raise Pro-Social Behaviours When an Epidemic Arises. Journal of the Economic Science Association 7(2), 120–138.

14. 14. Shachat, J., M. J. Walker, and L. Wei (2021a). 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.

15. 15. Shachat, J., M. J. Walker, and L. Wei (2021b). The Impact of an Epidemic: Experimental Evidence on Preference Stability from Wuhan. In: AEA Papers and Proceedings. Vol. 111, pp.302–06.

16. 16. Heinrich, T. and J. Shachat (2020). The Development of Risk Aversion and Prudence in Chinese Children and Adolescents. Journal of Risk and Uncertainty 61(3), 263–287.

17. 17. Pan, J., J. Shachat, and S. Wei (2020). Cognitive Reflection and Economic Order Quantity Inventory Management: An Experimental Investigation. Managerial and Decision Economics 41(6), 998–1009.

18. 18. Gu, J., A. Mueller, I. Nielsen, J. Shachat, and R. Smyth (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.

19. 19. Shachat, J. and Z. Zhang (2017). The Hayek Hypothesis and Long-run Competitive Equilibrium: An Experimental Investigation. Economic Journal 127(599), 199–228.

20. 20. Gu, J., I. Nielsen, J. Shachat, R. Smyth, and Y. Peng (2016). An Experimental Study of the Effects of Intergroup Contact on Attitudes in Urban China. Urban Studies 53(14), 2991–3006.

21. 21. Geng, S., Y. Peng, J. Shachat, and H. Zhong (2015). Adolescents, Cognitive Ability, and Minimax Play. Economics Letters 128, 54–58.

22. 22. Shachat, J., J. T. Swarthout, and L. Wei (2015). A Hidden Markov Model for the Detection of Pure and Mixed Strategy Play in Games. Econometric Theory 31 (04), 729–752.

23. 23. Shachat, J. and L. Tan (2015). An Experimental Investigation of Auctions and Bargaining in Procurement. Management Science 61(5), 1036–1051.

24. 24. Shachat, J. and J. T. Swarthout (2013). Auctioning the Right to Play Ultimatum Games and the Impact on Equilibrium Selection. Games 4(4), 738–753.

25. 25. Zhang, Z., G. Chen, and J. Shachat (2013). The Impact of Asymmetric and Public Information on Pricing Bubbles in Experimental Asset Markets. Securities Market Herald 9. (in Chinese, CSSCI), 54–61.

26. 26. Shachat, J. and J. T. Swarthout (2012). Learning about Learning in Games Through Experimental Control of Strategic Interdependence. Journal of Economic Dynamics and Control 36(3), 383–402.

27. 27. Shachat, J. and L. Wei (2012). Procuring Commodities: First-Price Sealed-Bid or English Auctions? Marketing Science 31(2), 317–333.

28. 28. Shachat, J. and J. T. Swarthout (2010). Procurement Auctions for Differentiated Goods. Decision Analysis 7(1), 6–22.

29. 29. Shachat, J. and A. Westerling (2006). Information Aggregation in a Catastrophe Futures Market. Managerial and Decision Economics 27(6), 477–495.

30. 30. Shachat, J. and J. Todd Swarthout (2004). Do We Detect and Exploit Mixed Strategy Play by Opponents? Mathematical Methods of Operations Research 59(3), 359–373.

31. 31. Shachat, J. and M. Walker (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.

32. 32. Huang, H., C. Keser, J. Leland, and J. Shachat (2003). Trust, the Internet, and the Digital Divide. IBM Systems Journal 42(3), 507–518.

33. 33. Rosenthal, R. W., J. Shachat, and M. Walker (2003). Hide and Seek in Arizona. International Journal of Game Theory 32(2), 273–293.

34. 34. Shachat, J. (2002). Mixed Strategy Play and the Minimax Hypothesis. Journal of Economic Theory 104(1), 189–226.

35. 35. Cox, J. C., J. Shachat, and M. Walker (2001). An Experiment to Evaluate Bayesian Learning of Nash Equilibrium Play. Games and Economic Behavior 34(1), 11–33.

36. 36. Wooders, J. and J. Shachat (2001). On the Irrelevance of Risk Attitudes in Repeated Two-Outcome Games. Games and Economic Behavior 34(2), 342–363.

37. 37. Hoffman, E., G. Libecap, and J. Shachat (1998). An Experimental Investigation of the Incentives to Form Agricultural Marketing Pools. Journal of Mathematical Psychology 42(3), 287–304.

    Other Academic Publications

38. 1. Shachat, J. and H. Wang (2022). “Are You Experienced? How the Time Spacing of Traders’ Market Experience Impacts Bubble Formation in Experimental Asset Markets”. In: Handbook of Experimental Finance. Edward Elgar Publishing. Chap. 21, pp.267–280.

39. 2. Noussair, C. N. and J. Shachat (2014). Experiments on Learning, Methods and Voting. Pacific Economic Review 19(3), 255–259.

40. 3. Leland, J., D. Houser, and J. Shachat (2005). “Trust and Entrepreneurship: A West-East Perspective”. In: ed. by H.-H. Hohmann and F. Welter. Edward Elgar Publishing. Chap. Measuring trust and trustworthiness, pp. 87–96.

Working papers

1. 1. Berman, A., S. Cer Askin, S. Jiang, D. Porter, and J. Shachat (2025). “Dictators and Lying Dictators: An Experimental Investigation of Preference Based-Group Biases in Chinese and American Interactions”.

2. 2. Camera, G., J. Gilmore, M. Giselle Hazlett, J. Shachat, and B. Zhu (2024). “Coordination Within and Across Two Cultures”.

3. 3. Corgnet, B., M. DeSantis, Y. Peng, D. P. Porter, and J. Shachat (2024). “How Does Passive Investing Effect the Informational Efficiency of Prices?”

4. 4. Shachat, J., L. Wei, P. Yan, and S. Zhang (2024). “Cognitive Abilities and Individual Earnings in Hybrid Continuous Double Auctions”.

5. 5. Heinrich, T., J. Shachat, and Q. Wan (2023). “Group Identity and the Formation of Conditional Social Preferences Among Chinese Youth”.

6. 6. Houser, D., J. Shachat, and W. Zheng (2023). “Suggested versus Extended Gifts: How Alternative Market Institutions Mitigate Moral Hazard”.

7. 7. Shachat, J. and L. Wei (2023). “Discrete Rule Learning in First Price Auctions”.

8. 8. Bossaert, P., J. Shachat, and K. Xie (2020). “Arbitrage Opportunities: Anatomy and Remediation”.