Nir Vulkan

Nir Vulkan

Associate Professor of Business Economics


Saïd Business School
University of Oxford
Park End Street


Nir is a leading authority on e-commerce and market design, and on applied research and teaching on hedge funds. Alongside his role at Saïd Business School, Nir is also a Fellow of Worcester College.

Nir is author of one of the leading texts on the microeconomics of e-commerce The Economics of E-Commerce: A Strategic Guide to Understanding and Designing the Online Marketplace. The book analyses online trading mechanisms and the way in which web-based technologies such as bidding elves, smart agents and shopping bots, influence the behaviour of consumers and retailers.

More recently, Nir has edited, with Al Roth and Zvika Neeman, The Handbook of Market Design. The handbook contains a selection of the latest research in the growing field of market design, and draws on Vulkan’s interest and expertise in markets, both virtual and those confined to particular geographical locations. He is particularly interested in how lessons from successful and unsuccessful markets can be learned and transferred to different environments. Part of the book examines issues raised by the fact that the internet is now the preferred platform for most markets, and the wide choice this gives consumers. He also examines markets linked to geography where participants have little choice.

Nir did a BSc in Mathematics and Computer Science at Tel Aviv University and gained a doctorate in Economics at University College, London, where he was awarded the Dean Scholarship for excellence in PhD studies. He became a Lecturer at Bristol University in 1997, and in 2001 moved to Saïd Business School. He was the Director of the Oxford Centre for Entrepreneurship and Innovation (OxCEI) and the co-founder and Director of OxLab, a laboratory for social science experiments, both at Saїd Business School.


  • Market design
  • E-commerce
  • Entrepreneurship
  • Hedge funds



Nir’s current research focuses on market design, e-commerce, automated negotiations, personality and strategic behaviour, and entrepreneurship.

Watch a video of Nir discussing his research on equity crowdfunding.


  • W Wang,
  • A Mahmood,
  • C Sismeiro,
  • Nir Vulkan

Do small firms pay to stay? An experimental investigation(opens in new window)

  • Journal article
  • Journal of Marketing Behavior
  • A Mahmood,
  • Nir Vulkan
  • Thomas H Noe,
  • Nir Vulkan

The role of personality in financial decisions and financial crises(opens in new window)

  • Chapter
  • Preparing for the Next Financial Crisis
  • Thomas Noe,
  • N Vulkan

Equity Crowdfunding: a new phenomena(opens in new window)

  • Journal article
  • Journal of Business Venturing Insights
  • Nir Vulkan,
  • Thomas Astebro,
  • Manuel Fernandez Sierra
See more publications


Nir engages widely with industry.

He acts as a consultant to technology companies and has developed software for specific applications within companies.

He has developed models widely used in e-commerce, trading and hedge funds.

Nir travels extensively to give seminars and talks and to participate in conferences, and has spoken at numerous universities in Europe, the Middle East and the USA.

He acts as referee for a number of academic journals on economics.

Watch Nir's interview with CNBC about Apple's new iPad and classroom software.

Read a recent interview with Nir on the growth of Robo-Advisers.


Nir wrote and developed the core Managerial Economics course for the MBA and EMBA programmes and, until recently, taught the module.

He has also been involved in designing and developing the Entrepreneurial Project and now runs this course. He supervises DPhil and MPhil students. He has also taught a popular MBA elective course on hedge funds and trading, and a course on e-commerce.

Nir believes that students learn by doing, and therefore games, role-plays and projects form a large part of his courses. The Managerial Economics course features a trading game, while both this course and the Entrepreneurial Project draw on current case studies, which are discussed and analysed by students.

Nir is also the co-author (with Pasquale Scaramozzino) of two distance-learning courses, Qualitative Methods for Financial Management  and Managerial Economics, used by the University of London Distance Learning Masters in Economics programme all over the world.

Nir is also the course convenor for three new online programmes: FintechBlockchain Strategy and Algorithmic Trading.