ERC grants

This project plans to study the political economy frictions behind financial regulation in Africa. Combining bank balance sheets and information on bank chief executive officers (CEOs), we will measure the ethnic connotation of banks and the co-ethnicity between CEOs and regulators.

The goal of this proposal is to advance the research frontier on expectations formation and their economic impact. The proposal consists of three related projects that, through the provision of novel empirical evidence and the design of a new theoretical framework, can guide future research and better inform policy decisions.

The project investigates how monopsony power, where employers hold significant market power over labor, contributes to increasing wage inequalities and other labor market inefficiencies. It aims to understand the sources of monopsony power, which can include anti-competitive labor practices such as "no-compete" agreements, as well as cognitive biases affecting workers' decisions to leave low-paying jobs. It also aims to assess how these factors affect various socio-economic groups within the workforce. 

Many financial assets trade in decentralized over-the-counter (OTC) markets, that is, there is no centralized marketplace and investors need to search for counterparties that are willing to trade.

The project develops foundational tools in the organizational economics, given the uncertainty shrouding even the most promising research projects, information plays a key role in the organization of science.

This research proposal describes three projects that will advance the frontier of our understanding of the working of digital markets. It is motivated by the consideration that the lack of a comprehensive empirical assessment of the crucial phenomena in this area driven by the lack of data availability has been the major impediment to the research in this area.

Why are populist parties more successful in some places (or times) compared to others? What makes right or left populism more prominent in some countries (or after certain crises)? This ERC Starting grant tackles these questions with the tools of behavioral political economy.

From 2008, 18 IGIER fellows have been awarded the European Research Council (ERC) Starting, Consolidator or Advanced research grants. With this achievement, Bocconi belongs to the group of top institutions in Europe for the number of scholars, who have been awarded ERC grants in the SH1 panel (Economics, Finance, and Management).

The main goal of the ERC is to encourage high quality research in Europe through competitive funding. Every year about 8-10 percent of submitted proposals get funded in the SH1 panel. Click here for statistics and the list of all ERC grants' recipients.

IGIER Fellow

Research Project

ERC Grant From/To 
Guido Alfani Economic Inequality across Italy and Europe, 1300-1800  Starting  2012-2016
Pierpaolo Battigalli Reasoning About Strategic Interaction and Emotions (abstract) Advanced 2013-2018
Valentina Bosetti  Innovation for Climate Change Mitigation: A Study of Energy R&D, its Uncertain Effectiveness and Spillovers

Risk and Uncertainty in Developing and Implementing Climate Change Policies


Maristella Botticini Contracts, Markets, and Institutions in Historical Perspective (abstract) Advanced 2012-2017
Simone Cerreia-Vioglio Static and Dynamic Decision Making under Uncertainty: Theory and Applications (abstract) Starting 2015-2021
Francesco Decarolis The Role of Reputation and Corruption in Procurement (abstract) Starting 


Eliana La Ferrara

Conflict, Identity, and Markets (abstract)

Aspirations, Social Norms, and Development (abstract)




Nicola Gennaioli Institutions and Globalization (abstract)

Psychology and Economic Behavior: Theory, Tests and Applications (abstract)


Thomas Le Barbanchon Direct empirical evidence on labor market search theories (abstract) Starting 2018-2023
Massimo Marinacci Bounded Rationality and Social Concerns in Decision Processes: Theory, Experiments, and Applications (abstract)

Individual Decisions and Macroeconomic Implications (abstract)


Tommaso Monacelli Financial Imperfections and Macroeconomic Implications (abstract) Starting 2012-2015
Massimo Morelli The Political Economy of Power Relations (abstract) Advanced 2016-2022
Explaining Politicians' and Voters' Behavior (abstract) Consolidator 2015-2018
Salvatore Nunnari Behavioral Foundations of Populism and Polarization (abstract) Starting 2020- 2025
Marco Ottaviani Designing Institutions to Evaluate Ideas 
Advanced 2012-2017 
Nicola   Pavoni Social Insurance and Welfare-to-Work Programs: Optimal Design and Structural Evaluation (abstract) Starting 2008-2011
Igor Pruenster New directions in Bayesian Nonparametrics (abstract) Starting 2012-2017
Guido Tabellini How Do Values Influence the Functioning of Institutions and the Effects of Policies? (abstract)

European Integration, Populism and European Cities (abstract)