Nottingham University Business School
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Professor David Kelsey

MA (University of Oxford), M.Phil (University of Oxford), DPhil (University of Oxford)
Professor of Industrial Economics

Department: Industrial Economics
Tel: +44 (0) 115 8467405
Location: C77 (North Building, Jubilee Campus)

Professor Kelsey studied mathematics and economics at Oxford University, after which he took a PhD supervised by A.K. Sen. He has worked at a number of universities including the University of California, Cambridge, University of Iowa and Australian National University. Most recently he was Professor of Economics at the University of Exeter.

Areas of Expertise
Uncertainty, Ambiguity, Law and Economics, Corporate Governance


The following lists my publications from 2014 to the present day.

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David is module convenor of the following module(s):


Managerial Economics (BUSI4433)

Details of all modules can be found on MyNottingham

My main research on risk and uncertainty and its applications in economics and finance. In particular I hvae studied ambiguity (decisions where some or all of the relevant probabilities are unknown) and unawareness (decisions where some of the consequences may be unknown)  Applications include partnerships, asset pricing and contests. At present he is researching ambiguity in extensive form games. This will enable ambiguity to be applied to economic problems in which time plays an essential role. This research is complemented by relevant experimental studies.

 In a more applied area he is working the implications of uncertainty for Law and Economics. In the context of liability law he has shown that negligence is the liability rule that performs best when there are unknown probabilities or unknown consequences.

He has also studied decision-making within firms. This has included looking at how corporate governance influences behaviour in the product market. He is particularly interested in the factors which influence the way firms are organised e.g. the choice between for-profit firms, cooperatives and partnerships. This will be relevant for issues such as mergers and corporate governance.
School Administrative Roles
CRIBS - Director of the Centre for Research in Behavioural Sciences

School Committee Memberships
Research & Knowledge Exchange Committee (Formerly RD) 2020


Nottingham University Business School

Jubilee Campus

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