Dr Daniel Friedman
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Email
df20392@essex.ac.uk -
Location
Colchester Campus
Teaching and supervision
Current teaching responsibilities
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Experimental Methods in Economics (EC387)
Current supervision
Publications
Journal articles (95)
Duffy, J., Friedman, D., Rabanal, JP. and Rud, O., The Impact of ETF Index Inclusion on Stock Prices. Management Science
Duffy, J., Friedman, D., Rabanal, JP. and Rud, OA., (2024). The Impact of Exchange-Traded Fund Index Inclusion on Stock Prices. Management Science
Aldrich, EM. and Friedman, D., (2023). Order Protection Through Delayed Messaging. Management Science. 69 (2), 774-790
Friedman, D., Rabanal, JP., Rud, O. and Zhao, S., (2022). On the empirical relevance of correlated equilibrium. Journal of Economic Theory. 205, 105531-105531
Friedman, D., Habib, S., James, D. and Williams, B., (2022). Varieties of Risk Preference Elicitation. Games and Economic Behavior. 133, 58-76
Cason, T., Friedman, D. and Hopkins, E., (2021). An Experimental Investigation of Price Dispersion and Cycles. Journal of Political Economy. 129 (3), 789-841
Crockett, S., Friedman, D. and Oprea, R., (2021). Naturally occurring preferences and general equilibrium: a laboratory study. International Economic Review. 62 (2), 831-859
Friedman, D. and Zhao, S., (2021). When are mixed equilibria relevant?. Journal of Economic Behavior and Organization. 191, 51-65
Fan, J., Friedman, D., Gair, J., Iyer, S., Redlicki, B. and Velu, C., (2021). A Simulation Study of How Religious Fundamentalism Takes Root. Journal of Economic Behavior and Organization. 192, 465-481
Zhao, S., López Vargas, K., Friedman, D. and Gutierrez, M., (2020). UCSC LEEPS Lab Protocol for Online Economics Experiments
James, D., Friedman, D., Louie, C. and O'Meara, T., (2018). DISSECTING THE MONTY HALL ANOMALY. Economic Inquiry. 56 (3), 1817-1826
Bosch-Rosa, C., Aperjis, C., Friedman, D. and Huberman, BA., (2017). Intolerable nuisances: some laboratory evidence on survivor curve shapes. Experimental Economics. 20 (3), 601-621
Friedman, D., Magnani, J., Paranjpe, D. and Sinervo, B., (2017). Evolutionary games, climate and the generation of diversity.. PLoS One. 12 (8), e0184052-e0184052
Yan, H., Friedman, D. and Munro, D., (2016). An experiment on a core controversy. Games and Economic Behavior. 96, 132-144
Friedman, D., Huck, S., Oprea, R. and Weidenholzer, S., (2015). From imitation to collusion: Long-run learning in a low-information environment. Journal of Economic Theory. 155 (C), 185-205
Friedman, D. and Sákovics, J., (2015). Tractable consumer choice. Theory and Decision. 79 (2), 333-358
Rabanal, J. and Friedman, D., (2015). How Moral Codes Evolve in a Trust Game. Games. 6 (2), 150-160
Aperjis, C., Bosch-Rosa, C., Friedman, D. and Huberman, BA., (2014). Boiling the frog optimally: An experiment on survivor curve shapes and internet revenue. HP Laboratories Technical Report (55), 1-25
Oprea, R., Charness, G. and Friedman, D., (2014). Continuous time and communication in a public-goods experiment. Journal of Economic Behavior & Organization. 108, 212-223
Rabanal, JP. and Friedman, D., (2014). Incomplete Information, Dynamic Stability and the Evolution of Preferences: Two Examples. Dynamic Games and Applications. 4 (4), 448-467
Cason, TN., Friedman, D. and Hopkins, ED., (2014). Cycles and Instability in a Rock-Paper-Scissors Population Game: A Continuous Time Experiment. The Review of Economic Studies. 81 (1), 112-136
Pettit, J., Friedman, D., Kephart, C. and Oprea, R., (2014). Software for continuous game experiments. Experimental Economics. 17 (4), 631-648
Friedman, D. and Ostrov, DN., (2013). Evolutionary dynamics over continuous action spaces for population games that arise from symmetric two-player games. Journal of Economic Theory. 148 (2), 743-777
Friedman, D. and Oprea, R., (2012). A Continuous Dilemma. American Economic Review. 102 (1), 337-363
Chakravarty, S., Friedman, D., Gupta, G., Hatekar, N., Mitra, S. and Sunder, S., (2011). Experimental economics: A survey. Economic and Political Weekly. 46 (35), 39-40
Oprea, R., Henwood, K. and Friedman, D., (2011). Separating the Hawks from the Doves: Evidence from continuous time laboratory games. Journal of Economic Theory. 146 (6), 2206-2225
Friedman, D. and Sunder, S., (2011). Risky Curves: From Unobservable Utility to Observable Opportunity Sets. Cowles Foundation Discussion Paper (1819)
Cason, TN., Friedman, D. and Hopkins, E., (2010). Testing the TASP: An experimental investigation of learning in games with unstable equilibria. Journal of Economic Theory. 145 (6), 2309-2331
Feldman, T. and Friedman, D., (2010). Human and Artificial Agents in a Crash-Prone Financial Market. Computational Economics. 36 (3), 201-229
Cassar, A., Friedman, D. and Schneider, PH., (2010). A Laboratory Investigation of Networked Markets. The Economic Journal. 120 (547), 919-943
Friedman, D., (2010). Preferences, beliefs and equilibrium: What have experiments taught us?. Journal of Economic Behavior & Organization. 73 (1), 29-33
Anderson, ST., Friedman, D. and Oprea, R., (2010). Preemption Games: Theory and Experiment. American Economic Review. 100 (4), 1778-1803
Friedman, D. and Ostrov, DN., (2010). Gradient dynamics in population games: Some basic results. Journal of Mathematical Economics. 46 (5), 691-707
Friedman, D. and Abraham, R., (2009). Bubbles and crashes: Gradient dynamics in financial markets. Journal of Economic Dynamics and Control. 33 (4), 922-937
OPREA, R., FRIEDMAN, D. and ANDERSON, ST., (2009). Learning to Wait: A Laboratory Investigation. Review of Economic Studies. 76 (3), 1103-1124
Cassar, A., Friedman, D. and Schneider, PH., (2009). Cheating in markets: A laboratory experiment. Journal of Economic Behavior & Organization. 72 (1), 240-259
Cheung, Y-W. and Friedman, D., (2009). Speculative attacks: A laboratory study in continuous time. Journal of International Money and Finance. 28 (6), 1064-1082
Friedman, D. and Singh, N., (2009). Equilibrium vengeance. Games and Economic Behavior. 66 (2), 813-829
Cheung, Y-W. and Friedman, D., (2009). Speculative Attacks: A Laboratory Study in Continuous Time. Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP (07)
Cox, JC., Friedman, D. and Sadiraj, V., (2008). Revealed Altruism. Econometrica. 76 (1), 31-69
Friedman, D. and Ostrov, DN., (2008). Conspicuous consumption dynamics. Games and Economic Behavior. 64 (1), 121-145
Feldman, T. and Friedman, D., (2008). Humans, Robots and Market Crashes: A Laboratory Study
Friedman, D. and Yan, H., (2008). An Experiment on the Core
Friedman, D., Pommerenke, K., Lukose, R., Milam, G. and Huberman, BA., (2007). Searching for the sunk cost fallacy. Experimental Economics. 10 (1), 79-104
Friedman, D., (2007). Market theories evolve, and so do markets. Journal of Economic Behavior & Organization. 63 (2), 247-255
Cox, JC., Friedman, D. and Gjerstad, S., (2007). A tractable model of reciprocity and fairness. Games and Economic Behavior. 59 (1), 17-45
Zhan, W. and Friedman, D., (2007). Markups in double auction markets. Journal of Economic Dynamics and Control. 31 (9), 2984-3005
Friedman, D. and Wittman, D., (2007). Litigation with Symmetric Bargaining and Two-Sided Incomplete Information. Journal of Law, Economics, and Organization. 23 (1), 98-126
Friedman, D., (2007). Cheating in Markets: A Methodological Exploration. Lecture Notes in Economics and Mathematical Systems. 590, 101-118
Cason, TN., Friedman, D. and Wagener, F., (2005). The dynamics of price dispersion, or Edgeworth variations. Journal of Economic Dynamics and Control. 29 (4), 801-822
Cox, JC., Friedman, D. and Sadiraj, V., (2005). Revealed Altruism
Kluger, B. and Friedman, D., (2005). Financial Engineering and Rationality: Experimental Evidence Based on the Monty Hall Problem
Friedman, D. and Singh, N., (2004). Negative reciprocity. Evolution and Human Behavior. 25 (3), 155-173
Anderson, S., Friedman, D., Milam, G. and Singh, N., (2004). Seller Strategies on eBay
Anderson, S., Friedman, D., Milam, G. and Singh, N., (2004). Buy it Now: A Hybrid Internet Market Institution
Cason, TN., Friedman, D. and Milam, GH., (2003). Bargaining versus posted price competition in customer markets. International Journal of Industrial Organization. 21 (2), 223-251
Cason, TN. and Friedman, D., (2003). Buyer search and price dispersion:a laboratory study. Journal of Economic Theory. 112 (2), 232-260
Kelley, H. and Friedman, D., (2002). LEARNING TO FORECAST PRICE. Economic Inquiry. 40 (4), 556-573
Chakravarti, D., Greenleaf, E., Sinha, A., Cheema, A., Cox, JC., Friedman, D., Ho, TH., Isaac, RM., Mitchell, AA., Rapoport, A., Rothkopf, MH., Srivastava, J. and Zwick, R., (2002). Auctions: Research Opportunities in Marketing. Marketing Letters. 13 (3), 281-296
Cason, TN. and Friedman, D., (2002). A Laboratory Study of Customer Markets. The B.E. Journal of Economic Analysis & Policy. 2 (1), 1-45
Friedman, D., (2001). Towards evolutionary game models of financial markets. Quantitative Finance. 1 (1), 177-185
Friedman, D. and Yellin, J., (2000). Castles in Tuscany: The Dynamics of Rank Dependent Consumption
Cason, T. and Friedman, D., (1999). Customer search and market power: some laboratory evidence. Advances in Applied Microeconomics. 8, 71-99
Friedman, D., (1998). Evolutionary economics goes mainstream: A review of the theory of learning in games. Journal of Evolutionary Economics. 8 (4), 423-432
Kitzis, SN., Kelley, H., Berg, E., Massaro, DW. and Friedman, D., (1998). Broadening the Tests of Learning Models. Journal of Mathematical Psychology. 42 (2-3), 327-355
Friedman, D., (1998). On economic applications of evolutionary game theory. Journal of Evolutionary Economics. 8 (1), 15-43
Rich, CS. and Friedman, D., (1998). The Matching Market Institution: A Laboratory Investigation. American Economic Review. 88 (5), 1311-1322
Cheung, Y-W. and Friedman, D., (1998). A comparison of learning and replicator dynamics using experimental data. Journal of Economic Behavior & Organization. 35 (3), 263-280
Friedman, D. and Massaro, DW., (1998). Understanding variability in binary and continuous choice. Psychonomic Bulletin & Review. 5 (3), 370-389
Friedman, D., (1998). Monty Hall's Three Doors: Construction and Deconstruction of a Choice Anomaly. American Economic Review. 88 (4), 933-946
Cheung, Y-W. and Friedman, D., (1997). Individual Learning in Normal Form Games: Some Laboratory Results. Games and Economic Behavior. 19 (1), 46-76
Wittman, D., Friedman, D., Crevier, S. and Braskin, A., (1997). Learning Liability Rules. The Journal of Legal Studies. 26 (1), 145-162
Cason, TN. and Friedman, D., (1997). Price Formation in Single Call Markets. Econometrica. 65 (2), 311-311
Friedman, D. and Fung, KC., (1996). International trade and the internal organization of firms: An evolutionary approach. Journal of International Economics. 41 (1-2), 113-137
Friedman, D., (1996). Equilibrium in Evolutionary Games: Some Experimental Results. The Economic Journal. 106 (434), 1-1
Cason, TN. and Friedman, D., (1996). Price formation in double auction markets. Journal of Economic Dynamics and Control. 20 (8), 1307-1337
Friedman, D. and Wittman, D., (1995). Why voters vote for incumbents but against incumbency: A rational choice explanation. Journal of Public Economics. 57 (1), 67-83
Friedman, D., Massaro, DW., Kitzis, SN. and Cohen, MM., (1995). A Comparison of Learning Models. Journal of Mathematical Psychology. 39 (2), 164-178
Friedman, D., (1993). HOW TRADING INSTITUTIONS AFFECT FINANCIAL MARKET PERFORMANCE: SOME LABORATORY EVIDENCE. Economic Inquiry. 31 (3), 410-435
Friedman, D., (1993). Privileged Traders and Asset Market Efficiency: A Laboratory Study. The Journal of Financial and Quantitative Analysis. 28 (4), 515-515
Friedman, D. and Aoki, M., (1992). INEFFICIENT INFORMATION AGGREGATION AS A SOURCE OF ASSET PRICE BUBBLES. Bulletin of Economic Research. 44 (4), 251-279
COPELAND, TE. and FRIEDMAN, D., (1991). Partial Revelation of Information in Experimental Asset Markets. The Journal of Finance. 46 (1), 265-295
Massaro, DW. and Friedman, D., (1991). Adaptive rationality and identifiability of psychological processes. Behavioral and Brain Sciences. 14 (3), 499-501
Friedman, D., (1991). A simple testable model of double auction markets. Journal of Economic Behavior & Organization. 15 (1), 47-70
Massaro, DW. and Friedman, D., (1990). Models of integration given multiple sources of information.. Psychological Review. 97 (2), 225-252
Friedman, D., (1989). Producers' markets. Journal of Economic Behavior & Organization. 11 (3), 381-398
COPELAND, TE. and FRIEDMAN, D., (1987). The Effect of Sequential Information Arrival on Asset Prices: An Experimental Study. The Journal of Finance. 42 (3), 763-797
Friedman, D., (1986). Two microdynamic models of exchange. Journal of Economic Behavior & Organization. 7 (2), 129-146
Friedman, D. and Aoki, M., (1986). Asset price bubbles from poorly aggregated information. Economics Letters. 21 (1), 49-52
Friedman, D., (1985). Experimental economics: Comment (2). American Economic Review. 75 (1), 264-
Friedman, D., (1983). Effective Scoring Rules for Probabilistic Forecasts. Management Science. 29 (4), 447-454
Friedman, D. and Vandersteel, S., (1982). Short-run fluctuations in foreign exchange rates. Journal of International Economics. 13 (1-2), 171-186
FRIEDMAN, D., (1981). Makin's MARP A Comment. The Journal of Finance. 36 (3), 739-741
Stern, D. and Friedman, D., (1980). Short-run behavior of labor productivity: tests of the motivation hypothesis. Journal of Behavioral Economics. 9 (2), 89-105
Friedman, D., (1979). Money-mediated disequilibrium processes in a pure exchange economy. Journal of Mathematical Economics. 6 (2), 149-167
Books (8)
Friedman, D. and Sinervo, B., (2016). Evolutionary Games in Natural, Social, and Virtual Worlds. 9780199981151
Friedman, D., Isaac, RM., James, D. and Sunder, S., (2014). Risky curves: On the empirical failure of expected utility. Routledge
Friedman, D. and McNeill, D., (2013). Morals and Markets. Palgrave Macmillan US. 9781137282583
Friedman, D., (2008). Morals and Markets. Palgrave Macmillan US. 9781349370511
Cason, TN. and Friedman, D., (2008). Chapter 33 A Comparison of Market Institutions. Elsevier
Friedman, D. and Rich, C., (2008). Chapter 13 The Matching Market Institution. Elsevier
Kelley, H. and Friedman, D., (2008). Chapter 35 Learning to Forecast Rationally. Elsevier
Bouchez, N. and Friedman, D., (2008). Chapter 53 Equilibrium Convergence in Normal Form Games. Elsevier. 9780444826428
Book chapters (5)
(2016). Routledge Handbook of Behavioral Economics. In: Routledge Handbook of Behavioral Economics. Editors: Frantz, R., Chen, S-H., Dopfer, K., Heukelom, F. and Mousavi, S., . Routledge. 336- 347
(2013). Qualitative Mathematics for the Social Sciences. In: Qualitative Mathematics for the Social Sciences: Mathematical Models for Research on Cultural Dynamics. Editors: Rudolph, L., . Routledge. 321- 342
(2010). Computable, Constructive & Behavioural Economic Dynamics. In: Computable Constructive and Behavioural Economic Dynamics: Essays in Honour of Kumaraswamy (Vela) Velupillai. Editors: Zambelli, S., . Routledge. 416- 431
Abraham, R., Feldman, T. and Friedman, D., (2010). Bubbles and crashes: A cyborg approach. In: Computable, Constructive and Behavioural Economic Dynamics: Essays in honour of Kumaraswamy (Vela) Velupillai. 416- 431
Friedman, D. and Singh, N., (2004). Vengefulness Evolves in Small Groups. In: Advances in Understanding Strategic Behaviour. Palgrave Macmillan UK. 28- 54. 9781403941671
Conferences (4)
Zhao, Q., Zhang, Y., Zhang, Y. and Friedman, D., (2017). Multi-Product Utility Maximization for Economic Recommendation
Zhang, Y., Zhao, Q., Zhang, Y., Friedman, D., Zhang, M., Liu, Y. and Ma, S., (2016). Economic Recommendation with Surplus Maximization
Zhao, Q., Zhang, Y., Friedman, D. and Tan, F., (2015). E-commerce Recommendation with Personalized Promotion
Friedman, D. and Huberman, B., (2004). Internet congestion: A laboratory experiment
Reports and Papers (8)
Friedman, D., Gu, GW. and Zheng, VJ., Information, Asset Price Volatility, and Liquidity
Liu, Z., Friedman, D. and Weidenholzer, S., A Model of Multiple Selves
Friedman, D., Gu, G. and Zheng, VJ., Information, Asset Price Volatility, and Liquidity
Wang, Z., Friedman, D. and Bowen, T., Overconfidence and Market Performance
Freer, M., Friedman, D. and Weidenholzer, S., (2024). Motives for Delegating Financial Decisions
Friedman, D. and Wang, Z., (2024). Motivated Beliefs Meet in the Marketplace
Friedman, D., Duffy, J., Rabanal, JP. and Rud, O., (2023). Trade, Voting, and ESG Policies: Theory and Evidence
Wang, Z., Friedman, D. and Bowen, T., (2022). Overconfidence and Market Performance
Scholarly Editions (4)
Friedman, D., Huck, S., Oprea, R. and Weidenholzer, S., From Imitation to Collusion: Long-run Learning in a Low-Information Environment
McLaughlin, K. and Friedman, D., (2016). Online Ad Auctions: An Experiment
Friedman, D., Huck, S., Oprea, R. and Weidenholzer, S., (2012). From imitation to collusion: Long-run learning in a low-information environment
Friedman, D., Huck, S., Oprea, R. and Weidenholzer, S., (2012). From imitation to collusion: Long-run learning in a low-information environment