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- Address:
Antonio Cabrales
Depoartamento de Economía
Universidad Carlos III de Madrid
c/ Madrid 126
Getafe 28903, Spain
- Email: antonio.cabrales@uc3m.es
- Phone: +34 91 624 9833
- Website: http://www.ucl.ac.uk/~uctpcab/
- Office: 15.1.33
- Born: 1964, Madrid, Spain.
- Citizenship: Spanish.
- Ph. D. in Economics, 1993, University of California, San
Diego.
- Licenciado (B.A.) in Economics, 1987, Universidad Complutense
de Madrid.
- September 2020-
- Professor, Dept. of Economics, Universidad Carlos III de Madrid.
- September 2013-August 2020
- Professor, Dept. of Economics, University College London.
- September 2006-August 2016
- Professor, Dept. of Economics, Universidad Carlos III de Madrid.
- February 2005-August 2006
- Professor, Dept. of Economics, Universitat Pompeu Fabra, Barcelona.
- September 1998-February 2005
- Associate Professor, Dept. of Economics, Universitat Pompeu Fabra, Barcelona.
- September 1993-August 1998
- Assistant Professor, Dept. of Economics, Universitat Pompeu Fabra, Barcelona.
- September 1995-August 1996
- Visiting Scholar, Dept. of Economics, University College, London.
- September 1992-August 1993
- Teaching Assistant, Dept. of Economics, University of California,
San Diego.
- September 1987-August 1988
- Teaching Assistant, Dept. of Economics, Universidad Complutense
de Madrid.
- Graduate:
- 1994-1995, 1996-1997, Game Theory and Contracts;
- 2000-2002, 2004-2006, Advanced
Game Theory;
- 2003-2006, Microeconomics II (Game theory and General Equilibrium);
- 2004-2006, Competition Policy;
- 2006-2007, Advanced Microeconomics I
- Undergraduate:
- 2014-, Principles of Economics (with the Core Econ text);
- 2009-2013, Principios de Economía (Principles of Economics);
- 2006-2008, Microeconomía II;
- 2015-2017, Industrial Economics.
- 2001-2002, Negotiation;
- 1993-1995, 1999-2002, Game
Theory;
- 1997-2002, 2013-14 An introduction to the economics of information;
- 1996-1997, Economic Theory II (intermediate microeconomics);
- 1993-1994, 1996-1997, Introduction to Economics I (introductory
microeconomics);
- 1987-1988, Intermediate microeconomics and macroeconomics, (at Universidad
Complutense de Madrid)
-
Vasco, M., Alfonso, A., Arenas, A., Cabrales, A., Cuesta, J. A., Espín, A. M., Espinosa, M. P., García-Muñoz, T., Izquierdo Nofuentes, Á., Jorrat, D., Kovářík, J., Lomas, P., MartínezEstudillo, A. C., Montolio, D., Ramos-Sosa, M. del P., Román, P., Sánchez, A., VázquezDe Francisco, M. J., & Brañas-Garza, P. (2025), Economic preferences and cognitive abilities among teenagers in Spain.
Nature: Scientific Data , 12(1), 7.
-
Antonio Cabrales and Esther Hauk (2024),
Norms and the evolution of leaders' followership.
Games and Economic Behavior, 148: 138-161.
-
Antonio Alfonso, Pablo Brañas-Garza, Antonio Cabrales, and Angel Sánchez (2024),
The complexity of climate change mitigation: An experiment with large groups.
Journal of Physics: Complexity, 5: 015007.
-
Cristina Bellés-Obrero, Antonio Cabrales, Sergi Jiménez-Martín and Judit Vall-Castelló
(2023), Women's Education, Fertility and Children's Health
during a Gender Equalization Process:
Evidence from a Child Labor Reform in Spain.
European Economic Review, 154: 104411.
-
Siddhartha Bandyopadhyayy and Antonio Cabrales (2023), Pricing group
membership.
Mathematical Social Sciences, 123: 114-121.
-
Pablo Brañas-Garza, Antonio Cabrales, Guillermo Mateu, Angel Sánchez and Angela Sutan (2023),
Social interaction and negotiation outcomes: An experimental approach.
Journal of Behavioral and Experimental Economics, 102: 101948.
-
David Ramos, Antonio Cabrales, and Angel Sánchez (2023),
Central Banks and
Climate Change: Does Climate Change Fit in Central Banks' Mandates? (Part 1),
Can Central Banks Intervene Now? And How? Arguments of ``Opportunity'' and ``Suitability'' (Part 2) .
The Business and Finance Law Review, 6: 213-260.
-
Antonio Cabrales, Ryan Kendall, and Angel Sánchez (2022),
The effectiveness of prosocial
policies: Gender differences arising from social norms.
PLoS ONE, 17(12) e0275383.
-
Antonio Cabrales, Antonio Espin,
Praveen Kujal,
and
Stephen Rassenti (2022),
Trustors' disregard for trustees deciding quickly or slowly in three experiments with time
constraints.
Nature Scientific Reports, 12.1: 1-13.
-
Valerio Capraro, Andrea Vanzo, and Antonio Cabrales (2022), Playing with words: Do
people exploit loaded language to affect others' decisions for their own benefit?
Judgement and Decision Making, 17: 50-69.
-
Antonio Cabrales, Penélope Hernández, and Angel Sánchez (2020),
Robots, labor
markets and universal basic income.
Humanities & Social Sciences Communications, 7: 185.
Supplementary material.
-
Antonio Cabrales, Francesco Feri,
Piero Gottardi,
and
Miguel Angel Meléndez (2020),Can there be a market for cheap-talk
information? Some experimental evidence.
Games and Economic Behavior, 121: 368-381.
-
Ghazala Azmat,
Manuel Bagues,
Antonio Cabrales and
Nagore Iriberri (2019),
What you know... Can't hurt you?
A natural field experiment on relative performance feedback
in higher education.
Management Science, 65: 3714-3736.
-
Antonio Cabrales, Maia Güell, Rocío Madera and Analía Viola (2019), Income contingent
university loans:policy design and an application to Spain.
Economic Policy, 34: 479-521.
-
Facundo Albornoz-Crespo,
Antonio Cabrales and Esther Hauk (2019),
Occupational choice with endogenous spillovers.
Economic Journal, 129: 1953-1970.
- Facundo Albornoz-Crespo, Paula Calvo,
Antonio Cabrales and Esther Hauk (2018),
Immigrant Children's School Performance and Immigration Costs: Evidence from Spain.
Economics Letters, 170C: 27-30.
- Facundo Albornoz-Crespo,
Samuel Berlinski and Antonio Cabrales (2018),
Motivation, resources and the organization of the school system.
Journal of the European Economic Association, 16:199-231.
- Facundo Albornoz-Crespo,
Antonio Cabrales and Esther Hauk (2018),
Immigration and the School System.
Economic Theory, 65:855-890.
- Antonio Cabrales, Piero Gottardi and
Fernando Vega (2017),
Risk Sharing and Contagion in Networks.
Review of Financial Studies, 30:3086-3127.
- Antonio Cabrales, Olivier Gossner
and Roberto Serrano (2017),
A Normalized Value for Information Purchases.
Journal of Economic Theory, 170:266-288.
- Antonio Cabrales, Juan J. Dolado, and Ricardo Mora (2017),
Dual Labour Markets and (Lack of) On-the-Job Training: Evidence for Spain Using PIAAC Data.
SERIEs, Journal of the Spanish Economic Association, 8:345-371.
- Facundo Albornoz-Crespo, Antonio Cabrales,
Esther Hauk and Pablo Warnes (2017),
Intergenerational field transitions in economics.
Economics Letters, 154:1-5.
- Brindusa Anghel, Antonio Cabrales and
Jesús Carro (2016),
Evaluating a bilingual education program in Spain: the impact
beyond foreign language learning.
Economic Inquiry, 54:1202-23.
- Antonio Cabrales and Haydée Lugo (2016),
An impure public good model with lotteries in
large groups.
International Tax and Public Finance, 23:218-33.
- Brindusa Anghel, Antonio Cabrales
Jorge Sainz and Ismael Sanz (2015),
Publicizing the results of standardized external tests:
Does it have an effect on school outcomes?.
IZA Journal of European Labor Studies, 4:7.
- Antonio Cabrales and
Piero Gottardi (2014),
Markets for Information:
Of Inefficient Firewalls and Efficient Monopolies. Online Appendix.
Games and Economic Behavior, 83:24-44.
- Brindusa Anghel and Antonio Cabrales (2014), The Determinants of Success in Primary Education in Spain.
Journal of Public Programs and Policy Evaluation
, 2:22-53.
- Facundo Albornoz-Crespo and Antonio Cabrales (2013),
Decentralization, Political Competition and Corruption..
Journal of Development Economics, 105:103-111.
- Lasse Loepfe, Antonio Cabrales, and
Angel Sánchez (2013),
Towards a Proper Assignment
of Systemic Risk: The Combined Roles of Network Topology and Shock Characteristics.
PLoS ONE, 8: Article number: e77526 doi:10.1371/journal.pone.0077526.
- Antonio Cabrales and
Sergi Jiménez-Martín (2013),
The Determinants of Pricing in Pharmaceuticals: Are U.S. prices
really so high?.
Health Economics, 22:1377-1397.
- Antonio Cabrales and
José Ramón Uriarte (2013),
Doubts and Equilibria..
Journal of Evolutionary Economics, 23:783-810.
- Antonio Cabrales, Olivier Gossner
and Roberto Serrano (2013),
Entropy and the value of information for
investors..
American Economic Review, 103:360-377.
- Gregory B. Pollock, Antonio Cabrales, Steven W. Rissing and Kenneth G. Binmore (2012),
Suicidal Punishment in the Ant
Acromyrmex versicolor.
Evolutionary Ecology Research, 14:951-971.
- Antonio Cabrales, Rosemarie Nagel and
José Vicente Rodríguez-Mora (2012),
It is Hobbes, not Rousseau An Experiment on Social Insurance.
Experimental Economics, 15:278-308.
- Jelena Grujiç, Burcu Eke, Antonio Cabrales,
José A. Cuesta and
Angel Sánchez (2012),
Three is a crowd in iterated prisoner's dilemmas: experimental evidence on reciprocal behavior.
Nature Scientific Reports, 2: Article number: 638 doi:10.1038/srep00638
- Antonio Cabrales and
Roberto Serrano (2012),
Stochastically Stable Implementation.
SERIEs, Journal of the Spanish Economic Association, 3:59-72.
- Antonio Cabrales and
Roberto Serrano (2011),
Implementation in Adaptive Better-Response Dynamics: Towards
a General Theory of Bounded Rationality in Mechanisms.
Games and Economic Behavior, 73:360-374. Corrigendum..
- Antonio Cabrales,
Gary Charness and
Marie Claire Villeval (2011), Competition,
Hidden Information and Efficiency: An Experiment.
Experimental Economics, 14:133-159.
- Antonio Cabrales,
Antoni Calvó-Armengol and Yves
Zenou (2011), Social Interactions and Spillovers: Incentives, Segregation and
Topology.
Games and Economic Behavior, 72:339-360.
- Antonio Cabrales and
Esther Hauk (2011),
Democracy and the curse of natural resources.
Economic Journal,
121:58-88.
- Antonio Cabrales and
Gary Charness (2011),
Optimal Contracts wih Team Production and Hidden Information: An Experiment.
Journal of Economic Behavior and Organization, 77:163-176.
- Antonio Cabrales, Raffaele Miniaci, Marco Piovesan and
Giovanni Ponti (2010),
Social Preferences and Strategic Uncertainty: an Experiment
on Markets and Contracts.
American Economic Review, 100:2261-2278.
- Antonio Cabrales (2010),
The causes and economic consequences of envy.
SERIEs, Journal of the Spanish Economic Association, 1:371-386.
- Àlex Arenas, Antonio Cabrales, Leon Danon,
Albert Díaz-Guilera, Roger Guimerà, Fernando Vega-Redondo (2010),
Optimal Information Transmission in Organizations: Search and Congestion.
Review of Economic Design, 14:75-93.
- Gregory B. Pollock and Antonio Cabrales (2008),
Suicidal Altruism under Random Assortment.
Evolutionary Ecology Review, 10:1077-1086.
- Antonio Cabrales and
Antoni Calvó-Armengol (2008),
Interdependent Preferences and Segregating Equilibria.
Journal of Economic Theory, 139:99-113.
- Antonio Cabrales,
Antoni Calvó-Armengol and Nicola Pavoni (2008),
Social Preferences, Skill Segregation and Wage Dynamics.
Review of Economic Studies, 75:65-98.
- Antonio Cabrales,
Rosemarie Nagel and Roc Armenter (2007),
Equilibrium Selection Through Incomplete Information in Coordination Games: An Experimental Study.
Experimental Economics, 10:221-234.
- Antonio Cabrales and
Antoni Calvó-Armengol (2007),
Corporate Downsizing to Rebuild
Team Spirit: How Costly Voting Can Foster Cooperation.
Journal of the European Economic Association, 5:1016-1042.
- Jordi Brandts, Antonio Cabrales and Gary Charness (2007),
Forward Induction and the Excess Capacity Puzzle: An Experimental Investigation
.
Economic Theory, 33:183-209.
- Gregory B. Pollock, Antonio Cabrales and Steven W. Rissing (2004),
On Suicidal punishment among "Acromyrmex Versicolor" Cofoundresses: the
Disadvantage in Personal Advantage.
Evolutionary Ecology
Research, 6:891-917.
- Antonio Cabrales, Gary Charness
and Luis Corchón (2003),
An Experiment on Nash Implementation.
Journal of Economic Behavior and Organization, 51
:161-193.
- Antonio Cabrales,
Antoni Calvó-Armengol and
Matthew O.
Jackson (2003),
La Crema: A Case Study of Mutual Fire Insurance.
Journal of Political Economy,
111:425-458.
- Roger Guimerà,
Albert Díaz-Guilera,
Fernando Vega-Redondo,
Antonio Cabrales and Àlex Arenas (2002),
Optimal network topologies for local search with congestion.
Physical Review Letters, 89(24):248701.
- Antonio Cabrales and Massimo Motta (2001),
Country Asymmetries, Endogenous Product Choice and the Speed of Trade Liberalization.
European Economic Review, 45:87-107.
- Antonio Cabrales and Giovanni Ponti (2000),
Implementation, Elimination of Weakly Dominated Strategies and Evolutionary Dynamics.
Review of Economic
Dynamics, 3:247-282.
- Antonio Cabrales (2000),
Stochastic Replicator Dynamics.
International Economic Review, 41:451-481.
- Antonio Cabrales, Walter García-Fontes and Massimo Motta (2000),
Risk Dominance Selects the Leader: An Experimental Analysis.
International Journal of Industrial Organization, 18:137-162.
- Antonio Cabrales (1999),
Adaptive Dynamics and the Implementation Problem with Complete Information.
Journal of Economic Theory, 86:159-184.
- Massimo Motta, Jacques François Thisse and Antonio Cabrales (1997),
On the Persistence of Leadership and Leapfrogging in International Trade.
International Economic Review, 38:809-824.
- Antonio Cabrales and Hugo Hopenhayn (1997),
Nash Bargaining with Downward Rigid Wages.
Economics Letters, 57:213-218.
- Antonio Cabrales and Hugo Hopenhayn (1997),
Labor Market Flexibility and Aggregate Employment Volatility.
Carnegie-Rochester Conference Series on Public Policy, 46:189-228.
- Antonio Cabrales and Takeo Hoshi (1996),
Heterogeneous Beliefs, Wealth Accumulation and Asset Price Dynamics.
Journal of Economic Dynamics and Control, 20:1073-1100.
- Antonio Cabrales and Joel Sobel (1992), On the Limit Points of Discrete Selection Dynamics
.
Journal of Economic Theory, 57:407-420.
-
Antonio Cabrales, Lorenzo Ductor, Ericka Rascón-Ramírez, and Ismael Rodríguez-Lara
(2025), Gender stereotypes and homophily in team formation.
-
Facundo Albornoz, Antonio Cabrales, Guillermo Cruces, and María Lombardi (2025),
Parental Involvement in Education.
-
Antonio Cabrales, Gema Pomares, David Ramos Muñoz, and Anxo Sánchez (2025),
Network Formation with Publicly Noxious but Privately Profitable Agents: An
Experiment.
-
Pablo Brañas-Garza, Antonio Cabrales, María Paz Espinosa, and Teresa García-Muñoz
(2024),
Behind the support for redistributive politics: Social preferences or beliefs?
-
Antonio Cabrales and Piero Gottardi (2024),
Network formation and heterogeneous risks.
-
Samuel Bentolila, Antonio Cabrales, and Marcel Jansen (2023),
Does Dual Vocational Education and Training Pay Off?.
-
Pablo Brañas-Garza, Antonio Cabrales, María Paz Espinosa and Diego Jorrat (2022),
The effect of ambiguity in strategic environments: an experiment.
-
Antonio Cabrales, Manu García, Angel Sánchez, and David Ramos (2022),
The Interactions of Social Norms about Climate Change: Science, Institutions and Economics..
-
Antonio Cabrales, Francesco Feri,
Piero Gottardi,
and
Miguel Angel Meléndez (2021),Communication and social preferences: an experimental
analysis.
-
Cevat Giray Aksoy, Antonio Cabrales, Mathias Dolls,Ruben Durante, and Lisa Windsteiger (2021)
, Calamities, Common Interests, Shared Identity: What Shapes Altruism and
Reciprocity?
-
Antonio Cabrales, Irma Clots-Figueras, Roberto Hernán-González and Praveen Kujal (2020),
Institutions, opportunism and prosocial behavior: Some experimental evidence.
-
Antonio Cabrales, Michalis Drouvelis, Zeynep Gurguc and Indrajit Ray (2017),
Transparency is overrated: communicating in a coordination game with private
information.
- Gregory B. Pollock, Antonio Cabrales and Steven W. Rissing (2011),
On suicidal punishment among Acromyrmex versicolor cofoundresses:
Comparative stability of suicide and self preservation.
- Brindusa Anghel and Antonio Cabrales (2010),
Los Determinantes del Éxito en Educación Primaria en España.
- Antonio Cabrales,
Antoni Calvó-Armengol and Leonard Wantchekon
(2007), Pathway from Communist Revolution to Liberal Democracy.
- Antonio Cabrales (2003), Pharmaceutical Generics, Vertical Product
Differentiation and Public Policy.
Working paper UPF 662.
- Antonio Cabrales and
Walter García-Fontes (2000), Estimating Learning Models with Experimental Data. Working paper UPF 501.
- Antonio Cabrales and Hugo Hopenhayn (1998), Job Dynamics, Correlated Shocks and Wage Profiles. Working paper UPF 260.
- Centro de Excelencia María de Maeztu, Departamento de Economía UC3M. (January 2023-
January 2027). 2,000,000 euros.
- Decisions, Education, Networks and Teenagers. Ministry of Science and Innovation
PID2021-126892NB-I00 (September 2022-September 2025). 181,500 euros.
- Can we mitigate climate change through financial regulation? Marie Skłodowska Curie
Individual Fellowships (October 2020-October 2022). 172,932.48 euros.
- Strategic interactions: Implications for the financial sector, education, commercial
intermediation and politics. Ministry of Economy and Competitiveness ECO2012-34581,
(January 2013- Jan. 2015). 75,000 euros.
- Structure of relationships and strategic interaction. Ministry of Science and Innovation
ECO2009-10531 (December 2009-Dec. 2012). 78,771 euros.
- Markets, organizations and institution: new approaches. Ministry of Education SEJ2006-
11665-C02-01 (December 2006-Dec. 2009). 24,000 euros.
- Group for Microeconomic Analysis. Generalitat de Catalunya SGR2005-00940 (December
2005- Dec. 2007). 39,000 euros.
- Corporations and externalities: effects on organizations and behavior. Fundación BBVA
(March 2005- March 2007). 67,000 euros.
- From the local commons to the global commons: lessons from the Valencia irrigation farms.
Fundación Ramón Areces (February 2004-February 2006). 30,000 euros.
- Contracts and incentives in business: the influence of the environment. Fundación BBVA
(March 2003- March 2005). 80,000 euros.
- Information structure, interaction and rationality in games. Ministry of Education
BEC2000-1029 (December 2000-Dec. 2003). 36,661 euros.
- Nicola Pavoni. Dissertation
defended October 2000.
- Domenico
Menicucci. Dissertation defended March 2001.
- Matthias Messner.
Dissertation defended March 2002.
- Neus Bover. Dissertation defended December 2002.
- Alejandro Lugón.
Dissertation defended May 2004.
- Óscar Nupia.
Dissertation defended June 2007.
- Paolo Vanin.
Dissertation defended September 2007.
- Antoni Rubí.
Dissertation defended February 2008.
- Margherita Comola.
Dissertation defended June 2008.
- Ana Cusolito.
Dissertation defended June 2008.
- Flavia Roldán.
Co-directed with Luis Úbeda. Dissertation defended October 2008.
- Sandro Shelegia.
Co-directed with Andreu Mas-Colell. Dissertation defended June 2009.
- Javier Coronado.
Co-directed with Sergi Jiménez-Martín. Dissertation defended March 2010.
- Sevinc Cukurova.
Co-directed with María Gutiérrez. Dissertation defended May 2012.
- Jesper Rũdiger. Dissertation defended September 2012.
- Daniel García. Dissertation defended September 2012.
- María Martín Rodríguez. Dissertation defended September 2013.
- Nikolas Tsakas. Dissertation defended June 2014.
- Rubén Poblete-Cazenave. Dissertation defended June 2019.
- Julen Ortiz de Zárate Pina. Dissertation defended July 2021.
- Agustina Martínez. Dissertation defended September 2023.
- Wenhao Cheng. Dissertation defended June 2024.
- Head of department of Economics, University College London, 2017-2019.
- Executive Vice president, European Economic Association, 2016-.
- PhD Director, University College London, 2015-2017.
- President, Spanish Economic Association, 2009.
- Chairman, 2012-2013; Economics department, Universidad Carlos III de Madrid.
- Recruiting coordinator, 2007-2011; Economics department, Universidad Carlos III de Madrid.
- Director of the Msc Program, 2001-2003; and Coordinator for the MSc in
Economics, 1997-2000; of the graduate program in Economics and Management GPEM at Universitat Pompeu Fabra.
- Coordinator for the activities of Teaching Assistants, 1997-2000.
- Organizer of the Barcelona-JOCS
(Barcelona Game Theory) seminar, 2001-2003.
- Organizer of the Microeconomics and Finance Workshop at the Departament of
Economics at Universitat Pompeu Fabra, 1993-94 and 1994-95, and the Department
Seminar, 1996-97 and 1997-1998.
- Fellow, Econometric Society.
- Fellow, European Economic Association.
- Julián Marías Prize in Social Sciences and Humanities, 2024.
- King Jaume I Prize in Economics, 2021.
- Prize of Excellence in research from the social council of Universidad Carlos III de Madrid, 2009.
- Research distinction from the Catalan regional government for the promotion of university research, young researcher category, 2002.
- Academic Excellence Award. Department of Economics, University of California, San Diego. June 1990, June 1991, June 1992.
- Teaching Excellence Award. Department of Economics, University of California, San Diego. June 1993.