lbusch@uwaterloo.ca
Office: HH 216
BSc (Victoria); MA; PhD (Western Ontario)
Areas of specialization: Applied microeconomic theory; Applied game theory
Research interests
My research generally involves applied micro economic theory, and much of it has been in applied game theory, in particular bargaining. One overarching consideration in my approach is to view observed outcomes as "correct" and optimal: if they fail to appear to be optimal, then I tend to assume that the problem has been misperceived by the observer, not by the participant. This approach is evidenced in the "Endogenous Incomplete Contracts" paper, as well as the "Ticket pricing.." paper.
At times more purely theoretical questions arise as well, as in the "Robust Nonexistence..." paper, and some ideas I am currently working on, which are not yet ripe for public consumption.
Biography
I grew up in southern Germany and ended up in Canada for somewhat random reasons. I started in computer science and economics at the University of Victoria, focusing on economics after second year. Originally I had wanted to obtain a business degree, but “why ruin a company if you can ruin a country...” - actually, economic analysis employing an age appropriate very large discount rate governed that choice. Still with a business career in mind, I decided on graduate studies at the University of Western Ontario, for their (then) leading group in International Economics. However, one guest course in Game Theory (by Motty Perry) opened my eyes, and I have been working on the applied theory side of economics since.
Selected publications
- "Ticket pricing and the impression of excess demand," (2011) Economics Letters, 111, 40-42. Busch, L-A. and P. Curry.
- "Robust Nonexistence of Equilibrium with Incomplete Markets," (2004), Journal of Mathematical Economics, 40(6), 641-645. Busch, L-A. and S. Govindan.
- "The Game of Negotiations: Ordering Issues and Implementing Agreements," (2002) Games and Economic Behavior, 41(2), 169-191. Busch, L-A. and I. Horstmann.
- "Endogenous Incomplete Contracts: A Bargaining Approach," (1999), Canadian Journal of Economics, 32(4), 956-975. Busch, L-A. and I. Horstmann.
- "Perfect Equilibria in a Negotiation Model," (1995), Econometrica, 63(3), 545-565. Busch, L-A. and Quan Wen.