Giancarlo Spagnolo

Giancarlo Spagnolo


Professor, University of Rome “Tor Vergata”
Fellow, Einaudi Institute for Economics and Finance
Senior Research Fellow, SITE - Stockholm School of Economics
Research Fellow, Center for Economic Policy Research


Stockholm School of Economics, Ph.D., 1999
University of Cambridge, UK, M. Phil., 1993


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Research Interests

Antitrust and Industrial Organization. Banking and Corporate Governance. Experimental Economics. Game and Contract Theory. Law and Economics. Procurement.

Selected Publications

"Frequency of Interaction, Communication and Collusion: An Experiment", (with M. Bigoni and J. Potters), Economic Theory, forthcoming.

"Motivating Whistleblowers", (with J. Butler and D. Serra), Management Science, forthcoming.

“The Effect Of Discretion on Procurement Performance”, (with D. Coviello and A. Guglielmo), Management Science, 2018, Volume 64, Issue 2, pages 715-738.

“Privatization and Quality: Evidence from Elderly Care in Sweden”, (with M. Begmann, P. Johansson and S. Lundberg), Journal of Health Economics, 2016, Volume 49, pages 109-119.

“Trust, Leniency, and Deterrence”, (with M. Bigoni, S. Fridolfsson and C. Le Coq), Journal of Law, Economics and Organization, 2015, Volume 31, Issue 4, pages 663-689.

“Time Horizon and Cooperation in Continuous Time”, (with M. Bigoni, M. Casari and A. Skrzypacz), Econometrica, 2015, Volume 83, Issue 2, pages 587-616.

“The Distortive Effects of Antitrust Fines Based on Revenues”, (with V. Bageri and Y. Katsoulacos), Economic Journal, 2013, Volume 123, Issue 572, pages F545-F557.

“Competition Policy and Productivity Growth: An Empirical Assessment”, (with P. Buccirossi, L. Ciari, T. Duso and C. Vitale), Review of Economics and Statistics, 2013, Volume 95, Issue 4, pages 1324-1336.

“Fines, Leniency and Rewards in Antitrust”, (with M. Bigoni, S. Fridolfsson and C. Le Coq), RAND Journal of Economics, 2012, Volume 43, Issue 2, pages 368-390.

“Equilibrium Selection in the Repeated Prisoner’s Dilemma: Axiomatic approach and Experimental Evidence”, (with M. Blonski and P. Ockenfels), American Economic Journal: Microeconomics, 2011, Volume 3, Issue 3, pages 164-192.

“Networks of Relations and Word-of-Mouth Communication”, (with S. Lippert), Games and Economic Behavior, 2011, Volume 72, Issue 1, Pages 202-217.

“Leniency and Whistleblowers in Antitrust”, Ch. 12 of the Handbook of Antitrust Economics, (P. Buccirossi ed.), 2008, M.I.T. Press.

“Bank Mergers, Competition and Liquidity”, (with E. Carletti and P. Hartmann), Journal of Money, Credit, and Banking, 2007, Volume 39, Issue 5, pages 1067-1107.

“Leniency Policies and Illegal Transactions” (with P. Buccirossi), Journal of Public Economics, 2006, Volume  90, Issue 6-7, pages 202-217.

“Managerial Incentives and Collusive Behavior”, European Economic Review, 2005, Volume 49, Issue 6, pages 1501-1523.

“Stock-Related Compensation and Product-Market Competition”, RAND Journal of Economics, 2000, Volume 31, Issue 1, pages 22-42.

“Social Relations and Cooperation in Organizations,” Journal of Economic Behavior and Organization, 1999, Volume 38, Issue 1, (lead article), pages 1-26.

“On Interdependent Supergames: Multimarket Contact, Concavity, and Collusion” Journal of Economic Theory, 1999, Volume 89, Issue 1, pages 127-139.

Honors, Awards and Fellowships

Research Grant on Corruption in Procurement, as Principal Investigator, Swedish Academy of Science, 2015-2018. Research Grant as Principal Investigator, from Wallander and Hedelius Foundation, 2013-2015. Research Grant as Principal Investigator, Swedish Competition Authority, 2010-2012. “Young Economist Essay Competition”, EARIE99, Turin, 1999. Marie Curie Fellowship, European Commission, 1998-2000.


Phone: +39.06.4792.4758
Fax: +39.06.4792.4872
E-mail:  giancarlo.spagnolo[at]

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