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Prof

Tom Wilkening

Professor
social sciences
economics
business & economics
information
experimental economics
equilibrium
markets
elicitation
utility
Tom Wilkening's Profile Picture
Prof

Tom Wilkening

 
Division
Business And Economics
Tom Wilkening's Profile Picture
Prof

Tom Wilkening

 

Professor Tom Wilkening researches how to design markets, auctions and economic institutions in environments where behavioural biases and inexperience may affect how people make decisions. His research combines experimental economics with theory to understand how markets evolve and to understand the role the government and private sector might play to improve them.A significant part of Professor Wilkening’s research involves the design of two-sided markets where buyers and sellers have preferences over packages of goods.

These markets arise in situations where the value of one good can increase when a different one is acquired, such as spectrum auctions, for example, where owning a Sydney licence changes the value of a Melbourne licence. In an application of this research, Professor Wilkening has worked with development economists and computer scientists to design an auction system that allows farmers in developing economies to consolidate land in a way that benefits them. Early evidence showed that farmers can use the system effectively, and that it increased the efficiency of the market without exacerbating inequality. As an ARC Future Fellow, Professor Wilkening is continuing this project with further work on the ground in East Africa, with a view to applying it in developing economies around the world. A second phase will tackle the issue of effective land allocations in developed economies such as Australia.In addition to research into market design, Professor Wilkening documents human behaviours in non-market settings, such as in organisations or bilateral negotiations. His research explores how economic efficiency can be improved in these settings, if we design with more realistic assumptions about human behaviour.Professor Wilkening’s work has been applied to a variety of problems in Australia and published in leading academic journals including the American Economic Review and the Journal of the European Economic Association, and the Journal of Economic Literature. He has also provided training courses for the government and the private sector on market design and procurement.

Scholarly Works

Displaying the 18 most recent scholarly works by Tom Wilkening.

Honours, Awards and Fellowships

2006

Undergraduate Economics Association Teaching Award

Massachusetts Institute of Technology

2003

MIT Presidential Fellow

Massachusetts Institute of Technology

2

Awards

Credentials

Positions


Professor

Economics

Education


Doctorate of Philosophy

Massachusetts Institute of Technology