Nottingham University Business School
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Professor Alistair Bruce

Image of Staff Member
MA (Hons) (St Andrews), PhD (Heriot Watt)
Professor of Decision and Risk Analysis

Division: Industrial Economics
Centre/Institute: Centre for Research in the Behavioural Sciences
E-mail: Alistair.Bruce@nottingham.ac.uk
Tel: +44 (0) 115 8466614
Location: C32 (North Building, Jubilee Campus)

Professor Bruce has spent the majority of his academic career in the School and has occupied the roles of Dean (current) Director of School (2003-2007), Acting Director (1999), Deputy Director/Dean (1995-1998, 2000-2003 and 2010-2015), Director of Research (2008-2010 and 2011-2014), Director of Undergraduate Programmes (1990-1995), Chair of Teaching and Learning Committee (various), Head of the Industrial Economics division (various) and Faculty vice-Dean (1990-1993).


Research Interests
Decision making in complex and uncertain environments; Executive remuneration and corporate governance; Efficiency of financial markets; Effects of flexible production technologies.

Administrative Roles
Chair of Accreditation Committee
Chair of Rankings Committee
I am module convenor of the following modules:


Undergraduate

Behavioural Economics and Finance (N13429)
Public Choice and Economic Policy-Making (N13407)


Details of all modules can be found on MyNottingham

 

Publications prior to 2005



Publications prior to 2005

Journal Articles

Buck, T.; Bruce, A.; Main, B.; Udueni, H. (2003), "Long-Term Incentive Plans, Executive Pay and UK Company Performance", Journal of Management Studies, Vol.40 (7), pp.1709-1727.

Faria, A.P.; Fenn, P.; Bruce, A. (2003), "A Count Data Model of Technology Adoption", Journal of Technology Transfer, Vol.28 (1), pp.63-86.

Faria, A.; Fenn, P.; Bruce, A. (2002), "Determinants of Adoption of FPTs Evidence from Portuguese Manufacturing Industry", Economics of Innovation and New Technology, Vol.11 (6), pp.569-580.

Bruce, A.; Johnson, J.E.V. (2001), "Efficiency Characteristics of a Market for State-Contingent Claims", Applied Economics, Vol.33, pp.1751-1754.

Johnson, J.E.V.; Bruce, A. (2001), "Calibration of Subjective Probability Judgements in a Naturalistic Setting", Organizational Behavior and Human Decision Processes, Vol.85 (2), pp.265-290.

Bruce, A.; Main, B.G.; Buck, T.; Udueni, H. (2000), "Keep it Simple: Company Law and Directors", Hume Papers on Public Policy, Vol.8 (1), pp.92-110.

Bruce, A.C.; Johnson, J. (2000), "Investigating the Roots of the Favourite-Longshot Bias: An Analysis of Decision-Making by Supply and Demand Side Agents in Parallel Betting Markets", Journal of Behavioral Decision Making, Vol.13, pp.413-430.

Bruce, A.C.; Johnson, J. (2000), "Market Efficiency Analysis Requires a Sensitivity to Market Characteristics: some observations on a recent study of Betting Market Efficiency", Applied Economics Letters, Vol.5, pp.199-202.

Poutziouris, P.; Binks, M.; Bruce, A. (1999), "A Problem-Phenomenological Growth Model for Small Manufacturing Firms", Journal of Small Business and Enterprise Development, Vol.6 (2), pp.139-153.

Bruce, A.C.; Johnson, J. (1998), "The Complex Decision: Insights from Naturalistic Research", International Journal of Project and Business Risk Management, Vol.1, pp.403-416.

Johnson, J.; Bruce, A.C. (1998), "Risk Strategy under Task Complexity:", Journal of Behavioral Decision Making, Vol.11, pp.1-17.

Bruce, A.C.; Johnson, J. (1997), "A Probit Model for Estimating the Effect of Complexity on Risk-taking", Psychological Reports, Vol.80, pp.763-772.

Bruce, A.C.; Johnson, J. (1997), "The Analysis of Risky Decision Making: Methodological Issues and Implications", International Journal of Project and Business Risk Management, Vol.1(3), pp.287-298.

Johnson, J.E.V.; Bruce, A.C. (1997), "An Empirical Study of the Impact of Complexity on participation in horserace betting", Journal of Gambling Studies, Vol.13, pp.159-172.

Bruce, A.C.; Johnson, J.E.V. (1996), "Decision-Making Under Risk: Effect of Complexity on Performance", Psychological Reports, Vol.79, pp.67-76.

Bruce, A.C.; Johnson, J.E.V. (1996), "Gender-based differences in leisure activity: performance, risk-taking and confidence in off-course betting", Leisure Studies, Vol.15, pp.65-78.

Main, B.G.M.; Bruce, A.C.; Buck, T. (1996), "Total Board Remuneration and Company Performance", Economic Journal, Vol.106 (439), pp.1627-1644.



Chapters in Books

Bruce, A.; Johnson, J. (2002), "Investigating Betting Behaviour: A Critical Discussion of Alternative Methodological Approaches", in L Vaughan Williams (ed) The Economics of Gambling, pp.224-246.

Bruce, A.C.; Buck, T. (1997), "Executive Reward and Corporate Governance", in K Keasey, S Thompson, M Wright (ed) Corporate Governance, pp.80-102, Oxford University Press.



Conferences

Bruce, A.; Johnson, J. 2003, "The Role of Trading Volume Information in Explaining Horserace Outcomes: A Technical Analysis Perspective", at 12th International Conference on Gambling and Risk Taking, Vancouver, Canada, May 2003.

Bruce, A.; Johnson, J. 2003, "The Value of Volume: Efficiency Characteristics of a Parimutuel Market", at University of Louisville's Third International Equine Industry Program Academic Conference, USA, June 2003.

Bruce, A.; Johnson, J.E.V. 2002, "Behaviour in UK Betting Markets: Biased Judgements by Bettors or Market Manipulation by Bookmakers?", at 5th European Conference on Gambling Studies and Policy Issues, Barcelona, October 2002.

Bruce, A.; Johnson, J.E.V. 2002, "The Predictive Capacity of Odds in Horserace Betting Markets: The Role of Trading Volume", at 5th European Conference on Gambling Studies and Policy Issues, Barcelona, October 2002.

Skovoroda, R.; Main, B.; Buck, T.; Bruce, A. 2002, "Executive Pay in UK and US, Incentives and Firm Risk", at Postgraduate School of Statistical Methods in Finance and Industry, Universite` de Reims, France.

Bruce, A.C.; Johnson, J.E.V. 1998, "Decision-making Anomalies in Financial Markets: New Insights Into the "Favourite-Longshot Bias"", at European Association for Study of Gambling, Munich, Germany.

Bruce, A.C.; Johnson, J.E.V. 1996, "Market Power in British Pari-Mutuel and Bookmaker-Based Horserace Betting Market: An Empirical Analysis", at European Association for Study of Gambling, Cambridge, UK.



Discussion Papers

Bruce, A.; Johnson, J.E. 1998, "Decision-making anomalies in financial markets: new insights into the "favourite-longshot bias"", Nottingham University Business School Discussion Paper, Nottingham University Business School.

Bruce, A.; Johnson, J.E. 1996, "Market Power in British Pari-Mutuel and Bookmaker based Horserace Betting markets: An Empirical Analysis", Nottingham University Business School Discussion Paper, Nottingham University Business School.



Publications from 2005 to the present day

Journal Articles

A, Grant; J, Johnson; A Oikonomidis, Bruce, A. (2018), "New Entry, Strategic Diversity and Efficiency in Soccer Betting Markets: The Creation and Suppression of Arbitrage Opportunities", European Journal of Finance, forthcoming 2018.

Bruce, A., Clarson, D. (2017), "Assessing the potential and limits of community-based initiatives in urban regeneration: three decades of experience on Sheffield's Manor estate", Regional Studies, Regional Science, Vol.4 (1), 80-93.

Skovoroda, R; Bruce, A, (2017), "Shifting the Goalposts? Analysing Changes to Performance Peer Groups Used to Determine the Remuneration of FTSE100 CEOs", British Journal of Management, Vol.28(2), pp. 265-279.

Bruce, A.; Johnson, J.; Oekonomides, A. (2015), "Does transparency imply efficiency? The case of the European soccer betting Market", Economics Letters, Vol.128, pp. 59-61.

Bruce, A.; Marginson, D. (2013), "Power not fear: a collusion-based account of betting market inefficiency", International Journal of the Economic of Business, Vol.21 (1), pp. 77-97, DOI: 1080/13571516.2013.782982.

Bruce, A.; Skovoroda, R. (2013), "Bankers' bonuses and the financial crisis: Context, evidence and the rhetoric-policy gap", Business History, Vol.55 (2), pp. 139-160.

Bruce, A.; Johnson, J.; Peirson, J. (2012), "Recreational versus professional bettors: performance differences and efficiency implications", Economics Letters, Vol.114 (2), pp, 172-174.

Bruce, A.; Johnson, J.; Tang, L. (2011), "The explanatory power of trading volume iand insider activity in a pari-mutel betting market", European Journal of Finance, Vol.17 (3), pp. 197-216.

Johnson, J.; Bruce, A.; Yu, J. (2010), "The Ordinal Efficiency of Betting Markets: an exploded logit approach", Applied Economics, Vol.42, pp. 3703-3710.

Bruce, A.; Johnson, J.; Peirson, J.; Yu, J. (2009), "An examination of the determinants of biased behavior in a market for state contingent claims", Economica, Vol.76 (302), pp. 282-303.

Bruce, A.; Skovoroda, R.; Fattorusso, J.; Buck, T. (2007), "Executive Bonus and Firm Performance in the UK", Long Range Planning, Vol.40 (3), pp. 280-294.

Fattorusso, J.; Skovoroda, R.; Buck, T.; Bruce, A. (2007), "UK Executive Bonuses and Transparency - A Research Note", British Journal of Industrial Relations, Vol.45 (3), pp. 518-536.

Bruce, A.; Buck, T.; Main, B. (2005), "Top Executive Remuneration: A View from Europe", Journal of Management Studies, Vol.42 (7), pp. 1493-1506.

Bruce, A.; Johnson, J. (2005), "Market Ecology and Decision Behaviour in a State - Contingent Claims Market", Journal of Economic Behavior and Organization, Vol.56 (2), pp.199-217.

Faria, A.; Fenn, P.; Bruce, A. (2005), "Production Technologies and Technical Efficiency: Evidence from Portuguese Manufacturing Industry", Applied Economics, Vol.37, pp.1037-1046.



Books

Johnson, C.; Bruce, A. (2008), Decisions: Risk and Reward, Routledge.



Chapters in Books

Bruce, A. (2014), "Betting Motivation and Behavior", in Vaughan, W L, and Siegel, D (ed) The Oxford handbook of the Economics of Gambling, pp. 451-473, Oxford University Press.

Sung, M.; Johnson, J.; Bruce, A. (2005), "Searching for Semi-Strong Form in Efficiency in the Uk Racetrack Betting Marketing", in Vaughan Williams, L. (ed) Information Efficiency in Financial and Betting Markets, pp. 179-192, Cambridge University Press.



Conferences

Skovoroda, R.; Bruce, A.; Buck, T.; Gregory-Smith, I. 2018, "Say-on-Pay, Binding Votes and the Vesting Ratios of Performance Equity", in The 2018 Royal Economic Society Annual Conference, University of Sussex, March 2018..

Skovoroda, R.; Bruce, A. 2013, "Peer Groups and Performance-Based Remuneration for FTSE 100 CEOs: analysing the impact of changes to peer group composition", at 4th European Reward Management Conference (RMC 2013), Managing Rewards: What can we learn from a comparative approach?, Brussels, December 2-3, 2013.

Skovoroda, R.; Buck, T.; Bruce, A. 2013, "Incentives in CEO Pay and Company Risk: Evidence from the UK", at 11th European Academic conference on Internal Audit and Corporate Governances B1 Norwegian Business School, Oslo, April.

Skovoroda, R.; Buck, T.; Bruce, A. 2013, "Incentives in CEO Pay and Company Risk: Evidence from the UK", in 11th European Academic conference on Internal Audit and Corporate Governances B1 Norwegian Business School, Oslo, April.

Bruce, A.; Johnson, J. 2005, "Trading Volume and Betting Market Efficiency: The Role of Insiders", at European Association for Study of Gambling Conference, Malmo, Sweden, July 2005.

Bruce, A.; Johnson, J. 2005, "On Track Versus Off Track Betting: On Investigation of Differential Performance", at European Association for Study of Gambling Conference, Nova Gorica, Slovenia.



Reports for external body

Skovoroda, R., Bruce. A., Buck, T. 2016, "Corporate Governance Enquiry: Complex Incentive Schemes", in Business, Innovation, and Skills (BIS) Committee on Corporate Governance.

Bruce, A.; Skovoroda, R. 2015, "The Empirical Literature on Executive Pay: Context, the Pay-Performance Issue and Future Directions", in The High Pay Centre, London.

 

 

Nottingham University Business School

Jubilee Campus
Nottingham
NG8 1BB

telephone: +44 (0) 115 846 6602
fax: +44 (0) 115 846 6667
email: business-enquiries@nottingham.ac.uk