Alex Teytelboym receives European Research Council funding
Catz Fellow and Associate Professor of Economics, Dr Alex Teytelboym, has received a prestigious European Research Council (ERC) Starting Grant.
The funding, of over €1 million, will support DUALMARKETS: Duality in Market Design: Theory and Applications, Dr Teytelboym’s next research project, which will delve into the intricacies of allocating indivisible resources.
In economics, an ‘indivisible resource’ could be, for example, a power station that a government wishes to build. It will run an auction to decide who wins the right to build it, with experience from the field of market design often used to decide how to run such auctions. These approaches may not leave much room for market participants with limited budgets.
Dr Teytelboym’s project, DUALMARKETS, aims to develop new tools to better allocate indivisible resources for participants with limited budgets.
Commenting on the award, Dr Teytelboym said: “I’m delighted and honoured to receive the ERC Starting Grant. DUALMARKETS will tackle market design problems in which participants cannot always afford what they want to have. My main aim in this project is to inject ideas from classic microeconomics into the theory and applications of market design.
“The grant will allow me to focus on time-intensive theoretical research, foster new collaborations, and hopefully inspire young economists to work on market design.”
The award is part of a €677 million funding pot given to early-career scholars throughout Europe to support pioneering research across all disciplines. Only 13% of applicants were successful in their bid for funding.
This funding award comes on top of success for Dr Teytelboym earlier this year, when he was Highly Commended in the Vice-Chancellor’s Innovation Awards for research he co-authored to improve employment opportunities for refugees.
Alex Teytelboym became a Fellow of St Catherine’s and Associate Professor in Economics in 2017. His research looks at network economics and market design, with a focus on the applications of economic theory to many policy areas, including environment, energy and refugee resettlement.