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Konstantinos Serfes, PhD

Professor

Economics

Areas of Expertise

  • Microeconomics
  • Financial Economics
  • Industrial Organization
  • Game Theory
  • Economics/Managerial Economics

Selected Works

Articles

Serfes, Konstantinos, Wu, Kejia, and Avramidis, Panagiotis, FinTech vs. Bank: The impact of lending technology on credit market competition. Journal of Banking and Finance (Forthcoming).

Chalioti, Evangelia, and Serfes, Konstantinos, Shrinkflation. Economics Letters (Forthcoming).

Dam, Kaniska, Ripperger-Suhler, Daniel, and Serfes, Konstantinos, Two-sided productivity heterogeneity, firm boundaries and assortative matching. Journal of Economics and Management Strategy 33 (Winter 2024):877-908.

Chen, Minghua, Serfes, Konstantinos, and Zacharias, Eleftherios, Prices as signals of product quality in a duopoly. International Journal of Game Theory 52 (Mar 2023):1-31.

Cabolis, Christos, Dai, Mian, and Serfes, Konstantinos, Competition and specialization in the VC market: A non-monotonic relationship. Review of Industrial Organization 62 (Feb 2023):241-269.

Hong, Suting, Hunt, Robert M., and Serfes, Konstantinos, Dynamic Pricing of Credit Cards and the Effects of Regulation. Journal of Financial Services Research 64 (Year 2023):81-131.

Avramidis, Panagiotis, Pennacchi, George, Serfes, Konstantinos, and Wu, Kejia, The Role of Regulation and Bank Competition in Small Business Financing: Evidence from the Community Reinvestment Act. Journal of Money, Credit and Banking 54 (Dec 2022):2301-2340.

Dam, Kaniska, and Serfes, Konstantinos, A Price Theory of Vertical and Lateral Integration under Productivity Heterogeneity. The Journal of Industrial Economics 69 (Dec 2021):751-784.

Lu, Feng Susan, Serfes, Konstantinos, Wedig, Gerard, and Wu, Bingxiao, Does competition improve quality? The case of nursing homes where public and private payers coexist. Management Science 67 (Oct 2021):6493-6512.

Hong, Suting, Serfes, Konstantinos, and Thiele, Veikko, Competition in the Venture Capital Market and the Success of Startup Companies: Theory and Evidence. Journal of Economics and Management Strategy 29 (Winter 2020):741-791.

Avramidis, Panagiotis, Cabolis, Christos, and Serfes, Konstantinos, Bank Size and Market Value: The Role of Direct Monitoring and Delegation Costs. Journal of Banking and Finance 93 (Jul 2018):127-138.

Chalioti, Evangelia, and Serfes, Konstantinos, Strategic Incentives for Innovations and Market Competition. International Journal of Industrial Organization 52 (May 2017):427-449.

Chen, Minghua, Rennhoff, Adam, and Serfes, Konstantinos, Bundling, A La Carte Pricing and Vertical Bargaining in a Two-Sided Model. Information Economics and Policy 35 (Jun 2016):30-44.

Kotsogiannis, Christos, and Serfes, Konstantinos, Optimal Performance Reward, Tax Compliance and Enforcement. Economic Theory Bulletin 4 (Jan 2016):325-345.

Duchene, Anne, Sen, Debapriya, and Serfes, Konstantinos, Patent Licensing and Entry Deterrence: The Role of Low Royalties. Economica (Dec 2015):1324-1348.

Dai, Mian, Liu, Qihong, and Serfes, Konstantinos, Is the Effect of Competition on Price Dispersion Non-Monotonic? Evidence from the U.S. Airline Industry. The Review of Economics and Statistics 96 (Mar 2014):161-170.

Kotsogiannis, Christos, and Serfes, Konstantinos, The comparison of ad-valorem and specific taxation under uncertainty. Journal of Public Economy Theory 16 (Feb 2014):48-68.

Liu, Qihong, and Serfes, Konstantinos, Price discrimination in two-sided markets. Journal of Economics and Management Strategy 22 (Winter 2013):768-786.

Serfes, Konstantinos, and Zacharias, Eleftherios, Location Decisions of Competing Networks. Journal of Economics and Management Strategy 21 (Winter 2012):989-1005.

Duchene, Anne, and Serfes, Konstantinos, Patent Settlements as a Barrier to Entry. Journal of Economics and Management Strategy 21 (Summer 2012):399-429.

Chen, Min, and Serfes, Konstantinos, Minimum Quality Standard Regulation under Imperfect Quality Observability. Journal of Regulatory Economics 41 (Apr 2012):269-291.

Kotsogiannis, Christos, and Serfes, Konstantinos, Public goods and tax competition in a two-sided market. Journal of Public Economy Theory 2 (Mar 2010):281-321.

Rennhoff, Adam, and Serfes, Konstantinos, The role of upstream-downstream competition on bundling decisions: Should regulators force firms to unbundle?. Journal of Economics and Management Strategy 18 (Summer 2009):547-588.

Rennhoff, Adam, and Serfes, Konstantinos, Retailer price distributions and promotional activities. Economics Letters 103 (Mar 2009):91-95.

Serfes, Konstantinos, Endogenous matching in a market with heterogeneous principals and agents. International Journal of Game Theory 36 (Feb 2008):587-619.

Bernhardt, Dan, Liu, Qihong, and Serfes, Konstantinos, Product customization. European Economic Review 51 (Jan 2007):1396-1422.

Liu, Qihong, and Serfes, Konstantinos, Market Segmentation and collusive behavior. International Journal of Industrial Organization 25 (Jan 2007):355-378.

Liu, Qihong, and Serfes, Konstantinos, Customer information sharing among rival firms. European Economic Review 50 (Jan 2006):1571-1600.

Kim, Hyunho, and Serfes, Konstantinos, A location model with preference for variety. The Journal of Industrial Economics LIV (Jan 2006):569-595.

Liu, Qihong, and Serfes, Konstantinos, Imperfect price discrimination in a vertical differentiation model. International Journal of Industrial Organization 23 (Jan 2005):341-354.

Liu, Qihong, and Serfes, Konstantinos, Imperfect price discrimination, market structure and effciency. Canadian Journal of Economics 38 (Jan 2005):1191-1203.

Serfes, Konstantinos, Risk sharing vs. incentives: Contract design under two-sided heterogeneity. Economics Letters 88 (Jan 2005):343-349.

Liu, Qihong, and Serfes, Konstantinos, Quality of information and oligopolistic price discrimination. Journal of Economics and Management Strategy 13 (Jan 2004):671-702.

Roy, Jaideep, and Serfes, Konstantinos, When vagueness induces indirect competition: Strategic incompleteness of contracts. Economic Theory 20 (Winter 2002):603-621.

Deltas, George, and Serfes, Konstantinos, Semicollusion vs. full collusion: The role of demand uncertainty and product substitutability. Journal of Economics 2 (Jan 2002):111-139.

Serfes, Konstantinos, Non-myopic learning in differential information economies: The core. Economic Theory 18 (Jan 2001):333-348.

Roy, Jaydeep, and Serfes, Konstantinos, Intertemporal discounting and tenurial contracts. Journal of Development Economics 64 (Jan 2001):417-436.

Deltas, George, Serfes, Konstantinos, and Sicotte, Richard, American shipping cartels in the pre-world war I era. Research in Economic History 19 (Jan 1999):1-38.

Serfes, Konstantinos, and Yannelis, Nicholas C., Learning in Bayesian games by boundedly rational players II: Non-myopia. Macroeconomic Dynamics 2 (Jan 1998):141-155.

Books

Serfes, Konstantinos, and Yannelis, Nicholas C., Collusion and distribution of profits under differential information. (1999).

Grants

Price discrimination in two-sided markets (NET Institute) $6,000 Jun 2007.
Location Decisions of Competing Platforms (NET Institute) $3,000 Jun 2009.

Professional Experience

Academic-Consumer Finance Institute–Federal Reserve Bank of Philadelphia Visiting Scholar Jan 2011-Nov 00-1
Academic-Center of Research Excellence, LeBow College of Business Distinguished Fellow Oct 2008-Oct 2011
Academic-Drexel University Graduate Director for the Economics Department Sep 2008-Aug 2012
Academic-Economics Department, Drexel University Assistant Professor Sep 2004-Aug 2008
Academic-Stony Brook University Visiting Assistant Professor Stony Brook NY Jul 1998-May 2004

Awards

2019 Dean’s Research Fellow in Economics (LeBow College of Business)
2019 Fulbright Intercountry lecturing award (Fulbright)
2019 Fulbright Scholar (Fulbright US Scholar Program)
2016 Greek Diaspora Fellowship Program (Stavros Niarchos Foundation)
2013 Betsy Cohen Research Scholar (LeBow College of Business)
2008-2011 Distinguished Research Fellow (LeBow College of Business)
2005 Excellence in Research Award (LeBow College of Business)
1998 Robert Willis Harbeson memorial dissertation fellowship (University of Illinois at Champaign-Urbana)
1996 Hans Brems award for the best original paper (University of Illinois at Champaign-Urbana)

Service

GAMES – Associate Editor (2022–Present)
GAMES – Guest Editor (2021–Present)