Luís Santos-Pinto is a
Professor of Economics at HEC Lausanne, the Faculty of Business and
of the University
He holds a B.A. in
Economics from Católica Lisbon School of Business
& Economics and a Ph.D. in Economics from UC San
Diego. Prior to joining the University
of Lausanne in
2008, he was an assistant professor at Nova
School of Business & Economics from 2004 to 2008.
research is applied microeconomic theory. He investigates the links
between information, cognition, judgment, and economic behavior. He
studies the implications of
behavioral biases like overconfidence and optimism in terms of
individual decision making, the design of
organizations, market outcomes, and welfare. He uses laboratory and
experiments to study the existence and consequences of these biases for
His research spans
areas of applied microeconomic theory, behavioral, experimental, and
labor economics. His work has been published
Economic Review, International
Economic Review, Journal of
Labor Economics, Economic
Journal, European Economic
Organization, International Journal
of Game Theory, International
of Industrial Organization,
and Theory and Decision.
He is a member of the European Economic Association and the Econometric
is coordinating editor of Theory and Decision.
teaches courses at the MA, Executive MBA and PhD levels. He teaches a
variety of courses including Game Theory, Industrial Organization, and
"Home Bias in
Cournot Games" (with Catherine Roux and
Review, forthcoming. Download
"Entrepreneurial Optimism and the Market
for New Issues" (with
Attitudes with Mixed Gambles"
58, No. 2, 383-419. Download
Mata, and Thomas
Theory and Decision, 2015, Vol. 79, Issue 4, 573-600. Download
Risk Loving, Optimism or Overweighting of Small Probabilities?"
(with Thomas Astebro and José
and Decision, 2015, Vol. 78, Issue 2,
"A Cognitive Hierarchy Model of Behavior
in the Action Commitment Game" (with Daniel Carvalho)
Journal of Game Theory, 2014, Vol. 43, Issue 3, 551-577. Download
"Experimental Cournot Oligopoly and
Inequity Aversion" (with Doruk Iris)
and Decision, 2014,
Vol. 76, Issue 1, 31-45. Download
"Tacit Collusion under Fairness and
Reciprocity" (with Doruk Iris)
Games, 2013, 4, 50-65. Download
"Labor Market Signaling and
Self-Confidence: Wage Compression and the Gender Pay Gap"
of Labor Economics, 2012,
Vol. 30, No. 4, 873-914. Download
Self-Image in Tournaments"
Economic Review, 2010, Vol. 51, No. 2, 475-496. Download
in Tournaments: Evidence from the Field" (with Young-Joon Park)
and Decision, 2010, Vol. 69, 143-166. Download Slides
"The Impact of Firm Cost and Market Size Asymmetries on
Information Processing in a Decision Theory Framework"
in a Three-Country Model"
Journal of Industrial
Organization, 2010, Vol. 28, 682-694. Download Slides
Theory and Decision, 2009, Vol.
66, 317-343. Download
Self-Image and Incentives in Organizations"
Economic Journal, 2008, Vol.
118, 1315-1332. Download Slides
Sense of the Experimental Evidence on Endogenous Timing in Duopoly
Journal of Economic Behavior and
Organization, 2008, Vol.
68, 657-666. Download
Model of Positive Self-Image in Subjective Assessments" (with Joel
Economic Review, 2005,
Vol. 95, No. 5, 1386-1402. Download
"Overconfidence and Timing of Entry"
(with Tiago Pires)
"A General Equilibrium Theory of
Occupational Choice under Optimistic Expectations," (with Michele
version: September 2014. Download
This version: May 2017. Download Slides
"How Do Beliefs
about Skill Affect Risky Decisions?" (with
Adrian Bruhin and David Staubli)
This version: June 2017. Download
"Uncovering Latent Heterogeneity in Economic Behavior: Discriminating
between Prospect Theory and Salience Theory" (with Adrian Bruhin and
"Interdependent Lying Costs: Theory and
Experimental Evidence" (with Georgia Michailidou)
“Men follow their sentiments and their
self-interest, but it pleases them to imagine that they follow reason.
And so they look for, and always find, some theory which, a posteriori,
makes their actions appear to be logical. If that theory could be
demolished scientifically, the only result would be that another theory
would be substituted for the first one, and for the same purpose.”
"People do not ever fully
overcome the egocentrism that Piaget and others claim to be
characteristic of the immature social perceiver"
Dunning, and Ross (1990)
by Tribal DDB Lisboa