Professor Sanjit Dhami

Professor of Economics

School/Department: Business, School of

Telephone: +44 (0)116 252 2086



I did my MA and PhD in Economics from the University of Toronto, Canada and an MPhil from the Delhi School of Economics, India. Before coming to Leicester in 2003, I worked at the University of Essex and Newcastle University for six years.

I authored The Foundations of Behavioral Economic Analysis published by Oxford University Press in 2016. This 1800 page book was then split into 7 volumes, edited and updated to include new material, before being published by Oxford University Press in 2019/20.

My new book joint with Professor Cass R. Sunstein titled Bounded Rationality: Heuristics Judgement and Public Policy is to be published by MIT Press in July 2022. It is a research monograph on bounded rationality and economic policy for an interdisciplinary audience that examines open problems, challenges, and the way forward for the social and the behavioural sciences.

I am currently writing an approximately 900 page book on behavioural economics at an undergraduate level that is tentatively to be published by CUP in 2023.

My research spans most areas in behavioural economics such as decision theory, social preferences, time discounting, game theory, emotions, and bounded rationality. My main interest is in examining the theoretical and empirical foundations in these areas. 


My research spans most areas in behavioural economics.

My early research was on exploring the decision theoretic foundations of prospect theory such as the axiomatic foundations of the utility function and the probability weighting functions under prospect theory; and to applications of prospect theory. We have also explored the foundations of quantum decision theory with an application to resolving the Ellsberg paradox (ambiguity seeking for low probabilities and ambiguity aversion for higher probabilities).

We did some foundational research on behavioural political economy, exploring the implications for societal redistribution when there is a mixture of self-regarding and other-regarding individuals; and showed the conditions under which a Condorcet winner exists under other-regarding preference.

We have also worked on providing the foundations of the generalised hyperbolic discount function and more recently on the axiomatic foundations of a wide range of time discount functions. In game theory, we have proposed evidential equilibria as an alternative to Nash equilibrium and written several papers in applications of psychological game theory such as to public goods games and Microfinance contracts.

My current research is on social norms, emotions, social identity, climate change, foundations of human punishment, mental accounting and several other areas. 


(0) (2021) Book Review of the Handbook of Experimental Game Theory. Journal of Economic Literature, June 2021 issue.

(2021) Identity and Redistribution: Theory and Evidence. Economica, 88(350): 499-531. (with Emma Manifold and Ali-al Nowaihi).

(2019) Quantum decision theory, bounded rationality and the Ellsberg paradox. Studies in Microeconomics, 7(1): 110-139. (joint with Ali al-Nowaihi and Mengxing Wei).



I am open to supervising in any area of behavioural economics, although if you wish to work in the area of neuroeconomics then I cannot be your principal supervisor although I would be open to being a second supervisor.


I currently teach courses in behavioral economics and behavioral finance at the University of Leicester. From time to time, I am invited to deliver courses elsewhere. These include intensive courses at LMU Munich, Kiel Institute for the World Economy, and the Bavarian Joint PhD program.

Press and media

Behavioural Economics.


I am currently an external examiner for the Cambridge Tripos in Economics and at Nottingham University. In the past I have been an external examiner at the Universities of Manchester and Lancaster.

In the past I have undertaken a range of administrative responsibilities in University of Leicester. These include senior tutor for the Business school, Head of the Learning and Teaching Committee, Degree Program Director, and Admissions Tutor.

Refereeing for Journals: American Economic Review, American Journal of Political Science, Economic Journal, Journal of Public Economics, European Economic Review, International Tax and Public Finance, Journal of Public Economic Theory, Scandinavian Journal of Economics, European Journal of Political Economy, Economics Bulletin, Economics of Governance, Fiscal Studies, Review of Education Economics, Southern Economic Journal.


Fellow Kiel Insitute for the World Economy Kiel Germany

CESifo Research Associate Ludwig Maximilians University Munich.

Fellow Higher Education Council UK

Invited Seminars: 

(2019) Oxford Birmingham Cardiff ISI Delhi IIM Ahmedabad; (2018) University College London; (2016-17) Zurich Munich Tilburg Nottingham Kiel Innsbruck Cologne Max Planck Institute St Andrews University of East Anglia. Keynote Address Centenary celebrations of the Indian Economic Association.

National Audit Office (2014) Her Majesty’s Revenue and Customs (2012) Punjabi University (2012) Chandigarh University (2012) Durham University (2011) Surrey University (2010) Delhi School of Economics University of Delhi (2008) Indira Gandhi Institute of Development Research Mumbai (2008) Pune University (2008) Newcastle University (2006) Birmingham University (2005) University of Cambridge (2005) Warwick University (2004) Keele University (2004) Exeter (2001). 


2022: Keynote Address CRIBS conference Nottingham; Keynote Address at the Reading Experimental and Behavioural Economics Workshop.

Plenary address to the 100th Indian Economic Association Meeting (2018) Invited talk to the Cambridge Students Union (2017) ESA Meetings Bergen (2016) XIV FUR Meetings Newcastle (2010) Royal Economic Society Conference Nottingham (2006) Public Economics Weekend at Warwick (2004) Public Economic Theory Conference Paris (2002) and the European Economic Association Meetings Venice (2002). 


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