Research

Research Interests

Download a long research statement here.

I am a microeconomic theorist who studies peoples' behavior in dynamic situations. I am especially interested in the role of stochastically evolving private information. I studied the role of private learning in dynamic contests, strategic experimentation games, and dynamic mechanism design settings. The techniques used are drawn from game theory, optimization and probability theory. If necessary, I develop new techniques and mathematical results.

Applications of my work include revenue maximizing sale of airplane tickets, dynamic ad-word auctions, optimal unemployment benefits, model-free option pricing and competition between mutuals fund managers.

Publications, Working Paper & Work in Progress

More information, citations, etc can be found on my Google Scholar page and my SSRN Author page.
  1. A Flow Approach to Dynamic Mechanism Design

    Thomas Kruse, Philipp Strack

  2. Repeated Sales with Unobservable Arrival

    Dirk Bergemann, Philipp Strack

  3. Never, Ever Getting Started: On Prospect Theory without Commitment

    Sebastian Ebert, Philipp Strack

    Working Paper on SSRN

  4. A Direct Test for Regret Aversion in Dynamic Contexts

    Paul Viefers, Philipp Strack

  5. Learning with Misspecified Beliefs

    Revise and Resubmit in Theoretical Economics

    Drew Fudenberg, Gleb Romanyuk, Philipp Strack

    Working Paper on SSRN

  6. Learning with Informational Externalities

    Eduardo Faingold, Olivier Gossner, Philipp Strack

  7. On the Speed of Social Learning

    Matan Harel, Elchanan Mossel, Philipp Strack, Omer Tamuz

    Working Paper on SSRN - Working Paper on arxiv

  8. Unrealistic Expectations and Misguided Learning

    Revise and Resubmit in Econometrica

    Paul Heidhues, Botond Köszegi, Philipp Strack

    Working Paper on SSRN

  9. Stochastic Choice and Optimal Stopping

    Revise and Resubmit in American Economic Review

    Drew Fudenberg, Philipp Strack, Tomasz Strzalecki

    Working Paper on SSRN

  10. Too Proud to Stop: Regret in Dynamic Decisions

    Revise and Resubmit in Journal of the European Economic Association

    Paul Viefers, Philipp Strack

    Working Paper on SSRN - Post on the blog of the 5th Lindau Nobel Laureate Meeting - Blogpost on voxeu.org

  11. Risk-Taking in Contests - The impact of fund-manager Compensation on Investor Welfare

    Philipp Strack

    Working Paper on SSRN

  12. Inverse Optimal Stopping

    Thomas Kruse, Philipp Strack

    Working Paper on arxiv

  13. Revenue Maximizing Mechanisms with Strategic Customers and Unknown Demand:
    Name-Your-Own-Price

    Revise and Resubmit in Management Science

    Alex Gershkov, Benny Moldovanu, Philipp Strack

    Working Paper on SSRN

  14. Continuous Time Contests with Private Information

    Mathematics of Operations Research, 2015

    Christian Seel, Philipp Strack

    Published Paper - Working Paper on SSRN

  15. Strategic Experimentation with Private Payoffs

    Journal of Economic Theory, September 2015

    Paul Heidhues, Sven Rady, Philipp Strack

    Published Paper - Working Paper on SSRN

  16. Dynamic Revenue Maximization: A Continuous Time Approach

    Journal of Economic Theory, September 2015

    Dirk Bergemann, Philipp Strack

    Published Paper - Working Paper on SSRN

  17. Optimal Stopping With Private Information

    Journal of Economic Theory, September 2015

    Thomas Kruse, Philipp Strack

    Published Paper - Working Paper on SSRN

  18. Randomization beats Second Price as a Prior-Independent Auction

    Economics and Computation, June 2015

    Hu Fu, Nicole Immorlica, Brendan Lucier, Philipp Strack

    Working Paper on arxiv

  19. Finite, integrable and bounded time embeddings for diffusions

    Bernoulli, May 2015

    Stefan Ankirchner, David Hobson, Philipp Strack

    Published Paper - Working Paper on arxiv

  20. Until the Bitter End: On Prospect Theory in the Dynamic Context

    American Economic Review, April 2015

    Sebastian Ebert, Philipp Strack

    Published Paper - Working Paper on SSRN - A discussion by Kevin Bryan - Winner of the 2013 SCOR/EGRIE Award

  21. Deadlines in Stochastic Contests

    Journal of Mathematical Economics, May 2014

    Christian Seel, Matthias Lang, Philipp Strack

    Published Paper - Working Paper on SSRN

  22. Gambling in Contests

    Journal of Economic Theory, September 2013

    Christian Seel, Philipp Strack

    Published Paper - Working Paper on SSRN

  23. Skorokhod Embeddings in Bounded Time

    Stochastics And Dynamics, September 2011

    Stefan Ankirchner, Philipp Strack

    Published Paper - Working Paper

Presentations

Presentations by me or a coauthor

Apr 29, 2016
Oxford
Risk-Taking in Contests - The impact of fund-manager Compensation on Investor Welfare presented by Philipp Strack
Apr 27, 2016
Warwick
Risk-Taking in Contests - The impact of fund-manager Compensation on Investor Welfare presented by Philipp Strack
Apr 26, 2016
University College London
Risk-Taking in Contests - The impact of fund-manager Compensation on Investor Welfare presented by Philipp Strack
Apr 25, 2016
University of Surrey
Risk-Taking in Contests - The impact of fund-manager Compensation on Investor Welfare presented by Philipp Strack
Apr 20, 2016
Northwestern University
Risk-Taking in Contests - The impact of fund-manager Compensation on Investor Welfare presented by Philipp Strack
Jan 23, 2016
Washington University St. Louis
Competition and Endogenous Risk-Taking in Financial Markets presented by Philipp Strack
Nov 17, 2015
University of Chicago
On the Speed of Social Learning presented by Philipp Strack
Oct 26, 2015
USC
On the Speed of Social Learning presented by Philipp Strack
Oct 26, 2015
Stanford
Competition and Endogenous Risk-Taking in Financial Markets presented by Philipp Strack
Oct 16, 2015
Simons Center Berkeley
On the Speed of Social Learning presented by Philipp Strack
Oct 1, 2015
Penn State
On the Speed of Social Learning presented by Philipp Strack
Sep 17, 2015
University of Pittsburgh
On the Speed of Social Learning presented by Philipp Strack
Sep 15, 2015
UPenn
On the Speed of Social Learning presented by Philipp Strack
Jul 15, 2015
University of Bonn
On the Speed of Social Learning presented by Philipp Strack
Jun 9, 2015
University of Jena
On the Speed of Social Learning presented by Philipp Strack
Apr 8, 2015
Stanford
Too Proud to Stop: Regret in Dynamic Decisions presented by Philipp Strack
Mar 27, 2015
University of Michigan
Too Proud to Stop: Regret in Dynamic Decisions presented by Philipp Strack
Mar 4, 2015
Santa Clara University
Too Proud to Stop: Regret in Dynamic Decisions presented by Philipp Strack
Jan, 2015
AEA Meeting Boston
Until the Bitter End: On Prospect Theory in the Dynamic Context presented by Sebastian Ebert
Jan 3, 2015
AEA Meeting Boston
Optimal Stopping with Private Information presented by Philipp Strack
Nov 18, 2014
University of Montreal
On the Speed of Social Learning presented by Philipp Strack
Nov 9, 2014
INFORMS Annual Meeting 2014, San Francisco
Revenue Maximizing Mechanisms with Strategic Customers and Unknown Demand: Name-Your-Own-Price presented by Philipp Strack
Oct 7, 2014
UC Davis
Too Proud to Stop: Regret in Dynamic Decisions presented by Philipp Strack
Sep 30, 2014
Berkeley Psych and Econ
Too Proud to Stop: Regret in Dynamic Decisions presented by Philipp Strack
Sep 4, 2014
Berkeley Risk Seminar
Competition and Endogenous Risk-Taking in Financial Markets presented by Philipp Strack
Sep 4, 2014
Harvard/MIT Theory Seminar
Stochastic Choice and Optimal Sampling presented by Philipp Strack
Sep 4, 2014
Chicago
Stochastic Choice and Optimal Sampling presented by Tomasz Strzalecki
May 11, 2014
SITE Meeting 2014, Stanford
Unrealistic Expectations and Misguided Learning presented by Botond Koszegi
May 10, 2014
SITE Meeting 2014, Stanford
Stochastic Choice and Optimal Sampling presented by Philipp Strack
May 10, 2014
POMS Conference, Altlanta
Dynamic Allocation and Learning with Strategic Arrivals presented by Philipp Strack
Apr 14, 2014
MIT Sloan Operations Management Seminar
Dynamic Allocation and Learning with Strategic Arrivals presented by Philipp Strack
Feb 12, 2014
Ludwig Maximilians University Munich, Germany
Too Proud to Stop: Regret in Dynamic Decisions presented by Paul Viefers
Jan 17, 2014
University Laval, Montreal Canada
Too Proud to Stop: Regret in Dynamic Decisions presented by Paul Viefers
Dez 12, 2013
University of Bonn
Risktaking and Financial Competition presented by Philipp Strack
12/04/13
Yale University
Risktaking and Financial Competition presented by Philipp Strack
Nov 11, 2013
University of Montreal
Risktaking and Financial Competition presented by Philipp Strack
Oct 23, 2013
Max Planck Institute, Bonn
Risktaking and Financial Competition presented by Philipp Strack
Sep 24, 2013
University of Pennsylvania, Philadelphia
Optimal Stopping with Private Information presented by Philipp Strack
Sep 23, 2013
Duke University
Optimal Stopping with Private Information presented by Philipp Strack
Sep 17, 2013
University of Toronto, Toronto
Optimal Stopping with Private Information presented by Philipp Strack
Sep 15, 2013
University of Texas, Austin
Optimal Stopping with Private Information presented by Philipp Strack
Aug 29, 2013
Microsoft Research New England, Boston
Dynamic Revenue Maximization: A Continuous Time Approach presented by Philipp Strack
Aug 23, 2013
MIT Applied Theory Summer Camp
Optimal Stopping with Private Information presented by Philipp Strack
Aug 16, 2013
Microsoft Research New England, Boston
Optimal Stopping with Private Information presented by Philipp Strack
Apr 25, 2013
University of Warwick, Statistics Departement
Optimal Stopping with Private Information presented by Philipp Strack
Apr 9, 2013
University of Bielefeld, Germany
Optimal Stopping with Private Information presented by Philipp Strack
Feb 11, 2013
Northwestern University, Evanston
Optimal Stopping with Private Information presented by Philipp Strack
Feb 7, 2013
University of California, Los Angeles
Optimal Stopping with Private Information presented by Philipp Strack
Feb 5, 2013
Columbia University,Business School
Optimal Stopping with Private Information presented by Philipp Strack
Feb 4, 2013
Columbia University, Economics Department
Optimal Stopping with Private Information presented by Philipp Strack
Feb 1, 2013
University of California, Berkeley
Optimal Stopping with Private Information presented by Philipp Strack
Jan 30, 2013
New York University
Optimal Stopping with Private Information presented by Philipp Strack
Jan 24, 2013
California Institute of Technology
Optimal Stopping with Private Information presented by Philipp Strack
Jan 18, 2013
Harvard University
Optimal Stopping with Private Information presented by Philipp Strack
Jan 16, 2013
University College London
Optimal Stopping with Private Information presented by Philipp Strack
Jan 15, 2013
University of Warwick
Optimal Stopping with Private Information presented by Philipp Strack
Dez 3, 2012
University of Chicago
Dynamic Revenue Maximization a Continuous Time Approach presented by Dirk Bergemann
Nov 9, 2012
European Winter Meetings of the Econometric Society 2012, Konstanz
Continuous Time Contests presented by Philipp Strack
Oct 29, 2012
University of Cologne
Until the Bitter End: On Prospect Theory in the Dynamic Context presented by Philipp Strack
Oct 16, 2012
INFORMS Annual Meeting 2012, Phoenix,
Dynamic Revenue Maximization a Continuous Time Approach presented by Philipp Strack
Oct 9, 2012
Yale University
Dynamic Implementability for Optimal Stopping presented by Philipp Strack
Oct 4, 2012
University of Maastricht
Dynamic Implementability for Optimal Stopping presented by Philipp Strack
Aug 2012
27th Annual Congress of the European Economic Association Malaga
Until the Bitter End: On Prospect Theory in the Dynamic Context presented by Philipp Strack
Jun 20, 2012
Fourth Congress of the Game Theory Society 2012 Istanbul
Continuous Time Contests presented by Philipp Strack
May 23, 2012
Maastricht University
Continuous Time Contests presented by Christian Seel
Apr 20, 2012
Mannheim University
Strategic Experimentation with Private Payoffs presented by Philipp Strack
Feb 10, 2012
Berlin Behavioral Economics Workshop
Until the Bitter End: On Prospect Theory in the Dynamic Context presented by Philipp Strack
Feb 2, 2012
Finance Seminar, University of Bonn
Until the Bitter End: On Prospect Theory in the Dynamic Context presented by Sebastian Ebert
Jan 11, 2012
University of Bonn
How to Sell an Option presented by Philipp Strack
Sep 9, 2011
Mannheim University
Continuous Time Contests presented by Christian Seel
Sep 6, 2011
Verein fuer Sozialpolitik, Jahrestagung 2011
Gambling in Contests presented by Christian Seel
July 19, 2011
Stochastic and Real World Models Conference 2011 (Bielefeld)
Skorokhod Embeddings in Bounded Time presented by Stefan Ankirchner
July 12, 2011
International Conference on Game Theory, Stony Brook University New York
Continuous Time Contests presented by Philipp Strack
June, 2011
Philipps-University Marburg
Skorokhod Embeddings in Bounded Time presented by Stefan Ankirchner
April 27, 2011
Yale University
Continuous Time Contests presented by Philipp Strack
Feb 24, 2011
IMPACT-Workshop, Berlin University
Skorokhod Embeddings in Bounded Time presented by Stefan Ankirchner
Feb 15, 2011
Yale University
Gambling in Contests presented by Philipp Strack
Feb 2, 2011
Maastricht University
Gambling in Contests presented by Christian Seel
Jan 7, 2011
AEA Meeting Denver
Strategic Experimentation with Private Payoffs presented by Paul Heidhues
Nov 2010
Brownbag Seminar, University of Cologne
Gambling in Dynamic Contests presented by Christian Seel
Oct 28, 2010
Brownbag Seminar, University of Frankfurt
Continuous Time Contests presented by Christian Seel
Oct 20, 2010
SFB Conference, University of Bonn
Strategic Experimentation with Private Payoffs presented by Sven Rady
Oct 10, 2010
University of Jena
Skorokhod Embeddings in Bounded Time presented by Stefan Ankirchner
Sep 11, 2010
Workshop on Stochastic Games, Erice
Gambling in Dynamic Contests presented by Christian Seel
Aug 17, 2010
World Congress of the Econometric Society 2010, Shanghai
Gambling in Dynamic Contests presented by Philipp Strack
May 11, 2010
Mathematics Department University of Bonn
Gambling in Dynamic Contests presented by Philipp Strack
Apr 21, 2010
Economics Department University of Bonn (Microworkshop)
Continuous Time Contests presented by Christian Seel
Apr 1, 2010
Yale University
Strategic Experimentation with Private Payoffs presented by Sven Rady
Mar 15, 2010
University of California, Berkeley
Strategic Experimentation with Private Payoffs presented by Paul Heidhues
Mar 19, 2010
Economics Department University of Barcelona (EDP Jamboree 2010)
Gambling in Dynamic Contests presented by Christian Seel
Dez 1, 2009
Economics Department University of Bielefeld
Gambling in Dynamic Contests presented by Christian Seel
Jul 8, 2009
Economics Department University of Bonn (Microworkshop)
Gambling in Dynamic Contests presented by Philipp Strack

Teaching

I will be teaching Mechanism Design and Contract Theory, in the spring 2016/2017 as well as a class on Mathematical Economics.