Dr. David Porter
Professor, Donna and David Janes Endowed Chair in Experimental Economics
Economic Science Institute
Schmid College of Science and Technology; Mathematics
The George L. Argyros College of Business and Economics
Office Location:
Wilkinson Hall 105
- Education:
- Arizona State University, Bachelor of Science
University of Arizona, Master of Science
University of Arizona, Ph.D.
Biography
Professor of Economics and Mathematics, Donna and David Janes Endowed Chair in Experimental Economics. Dr. Porter utilizes experimental methods in economics to design, develop, test and implement new and complex market systems. He was the principle architect of the Cassini Resource Exchange that made resource trading possible on the Cassini mission to Saturn. Dr. Porter also helped develop the Sears Logistic Auction for allocating truckload traffic, the Automated Credit Exchange for trading pollution permits, the Commonwealth of Virginia's new source credit auction for NoX emissions and BondConnect, which facilitates portfolio trades of various bond classes. Dr. Porter has designed and developed combinatorial markets that enable the efficient trading of packaged commodities. He also uses experiments to examine price formation in asset markets, including bubbles and the microstructure of asset markets and its affect on price dynamics.
Recent Creative, Scholarly Work and Publications
-
“Complements and Substitutes in a Dynamic Consumption-Asset Economy: A Laboratory Experiment,” with Benjamin Chase,Yijun Shen and Vernon Smith, Discrete and Continuous Dynamical Systems, 2023.
-
“Water Markets: Institutions, Issues, and Remedies,” with Hao Zhao and Steve Rassenti, in Elgar Water Encyclopedia 2022.
-
“Introduction to the special issue in honor of Professor Vernon Lomax Smith,” with Mark DeSantis, Journal of Behavioral Finance, 2022.
-
“Let’s chat... when communication promotes efficiency in experimental asset markets," with Brice Corgnet and Mark DeSantis, Management Science, 2022.
-
“Information Aggregation and the Cognitive Make-up of Traders,” with Brice Corgnet and Mark DeSantis, European Economic Review, 2021
-
"Forecasting Skills in Experimental Markets: Illusion or Reality?" with Brice Corgnet, Cary Deck and Mark DeSantis, Management Science, 2021
-
“Reference Dependent Prices in Bargaining: An Experimental Examination of Precise First Offers,” with Erik Kimbrough and Mark Schneider, Journal of Economic Pschycology, 2021
-
The Impact of High-Frequency Trading in Experimental Markets," with Nathanael Berger and Mark DeSantis, The Journal of Investing, 2020
-
“Let’s Play the Search Game: Strategic and Behavioral Properties of Sponsored Search Auction Mechanisms,” with Roumen Vragov, Richard Shang and Vernon Smith, Electronic Commerce Research and Applications, 2019
-
“The Distribution of Information and the Price Efficiency of Markets”, with Brice Corgnet and Mark DeSantis, Journal of Economic Dynamics and Control 2019.
-
“Do Economic Inequalities Affect Long-Run Cooperation & Prosperity,” with Gabriele Camera and Cary Deck, Experimental Economics 2019
-
“Effects of Experience, Choice Architecture, and Cognitive Reflection in Strategyproof Mechanisms,” with Mark Schneider, Journal of Economic Behavior and Organization, 2019.
-
"The Effects of Make and Take Fees in Experimental Markets,” with Vincent Bourke and Mark DeSantis, Experimental Economics, 2018.
-
"Information (Non)Aggregation in Markets with Costly Signal Acquisition,” with Brice Corgnet, Mark DeSantis and Cary Deck, Journal of Economic Behavior and Organization, 2018.
-
“What Makes a Good Trader? On the Role of Intuition and Reflection on Trader Performance,” with Brice Corgnet and Mark DeSantis, Journal of Finance, 2018.
-
“Information Effect in Uniform Price Multi-Unit Auctions,” with Joy Buchanan and Steve Gjerstad, Southern Economic Journal, forthcoming.
-
“Seller Beware: Supply and Demand Reduction and Price Manipulation in Multiple-Unit Uniform Price Auctions,” with Michael Parente and Abel Winn, Southern Economics Journal, forthcoming.
-
“Accounting Standards and Financial Market Stability: An Experimental Examination,” with Shengle Lin and Glenn Pfeiffer, Economic Journal, forthcoming.
-
"Do Prediction Markets Aid Defenders in a Weak-Link Contest?," with Cary Deck and Li Hao, Journal of Economic Behavior & Organization, forthcoming.
-
"Retrading, Production and Asset Market Performance," with Steve Gjerstad, Vernon Smith and Abel Winn, Proceedings of the National Academy of Sciences. October 2015.
-
"Cyber-shilling in Automobile Auctions: Evidence from a Field Experiment," with David Grether and Matt Shum, American Economic Journal: Microeconomics, 2015.
-
‘Double Bubbles in Assets Markets with Multiple Generations,” with Cary Deck and Vernon Smith, Journal of Behavioral Finance, 2014.
-
"The Effect of Earned vs. House Money on Price Bubble Formation in Experimental Asset Markets," with Brice Corgnet, Roberto Gonzalez and Praveen Kujal, Review of Finance, 2014.
-
“Market Bubbles,” in Real World Decision Making: An Encyclopedia of Behavioral Economics 2013.
-
"Affecting Policy by Manipulating Prediction Markets: Experimental Evidence," Journal of Economic Behavior and Organization, 2013
-
"Prediction Markets in the Laboratory" The Journal of Economic Surveys, 2013.
-
“Applied Combinatorial Auction Design,” in Oxford Handbook of Managerial Economics 2012.
-
“Reaction to Public Information in Markets: How Much Does Ambiguity Matter?” The Economic Journal, 2012.
-
"Radio Spectrum and the Disruptive Clarity of Ronald Coase," Journal of Law and Economics 2012.
-
“Commodity Durability, Trader Specialization, and Market Performance,” Proceedings of the National Academy of Science, January 2012.
-
“Combinatorial Auctions,” in Wiley Encyclopedia of Operations Research and Management Science 2011.
-
“Economic Systems Design,” in Economía experimental y del comportamiento 2011.
-
“The Effect of Reliability, Content and Timing of Public Announcements on Asset Trading Behavior,” Journal of Economic Behavior and Organization, November 2010.
-
“The Design, Testing and Implementation of Virginia’s NOx Allowance Auction,” Journal of Economic Behavior and Organization, February 2009.
-
“Honoring David Grether’s Contribution to Experimental Economics,” Journal of Economic Behavior and Organization, February 2009.
-
“Bidding Your Way to the Launch Pad,” ASK, The Academy Project Engineering Leadership. 2009.
-
“Thar She Blows: Can Bubbles Be Rekindled with Experienced Subjects?” American Economic Review 2008, 98:3, 924–937.