Daniel Schoch
“I entered the field of Economics through other disciplines. I have studied physics and worked for many years in the field of analytic philosophy, before I came to Asia in 2006 and Nottingham in 2011. Consequently, my field of expertise is focused on foundational questions. Currently, I am interested in shedding light on Adam Smith’s invisible hand both in merchandise and in financial markets. Since Vernon Smith (Nobel Prize 2002) started studying experimental markets in the 1960s, we have a much better understanding of the role of human and institutional factors in price formation. Many questions, however, are still open. Although I mainly work theoretically, I occasionally run experiments, too.
Some of the questions I am interested are: Do investors follow personal measures of risk? How do market opinions form from individual beliefs? How can we make paying taxes sweeter for the rich? How can we design agendas in voting on several alternatives? How did Hitler come to power? Why do people pay so much for religion? Other research is related to decision theory and time consistency.”