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Professor Richard Watt

Contact

Department: Department of Economics and Finance

Email: richard.watt@canterbury.ac.nz

Direct Dial: +64 3 3693736

Office: Meremere 426B

Language: English

About
Research / Creative works
Networks

Fields of Research

  • Applied microeconomic theory
  • Industrial organisation

Researcher Summary

Research interests include applied microeconomic theory and industrial organisation.

Subject Area: Disciplines

  • Economics: Microeconomics

Resources

  • Staff webpage

Prizes and Awards

  • Department of Economics, University of Canterbury ( 2000 - 2005)
  • International Centre for Economic Research ( 2010 - present )

Research/Scholarly/Creative Works

  • Kumar AP., Meriluoto L. and Watt R. (2023) New evidence on using expert ratings to proxy for wine quality in climate change research. Journal of Wine Research 34(2): 101-121. http://dx.doi.org/10.1080/09571264.2023.2205117. (Journal Articles)
  • Bonilla CA., Vergara M. and Watt R. (2022) Changes in risk and entrepreneurship. Risk Management 24(4): 367-385. http://dx.doi.org/10.1057/s41283-022-00098-7. (Journal Articles)
  • Ceballos M., Masselot A. and Watt R. (2022) Mind Gender Gaps! How Men and Women Get Equal Working Opportunities and Wages. CESifo Forum 23(2): 3-11. (Journal Articles)
  • Masselot A., Ceballos M. and Watt R. (2022) Pay Transparency Across Countries and Legal Systems’. CESifo Forum 23(2): 3-11. (Journal Articles)
  • Mumo R., Njagaraha JBH., Kiremu MK. and Watt R. (2022) On the use of intertemporal models to analyse how post-loss and post no-loss insurance demands differ. Cogent Economics and Finance 10(1) http://dx.doi.org/10.1080/23322039.2022.2035493. (Journal Articles)
  • Agnew S., Kerr J. and Watt R. (2021) The effect on student behaviour and achievement of removing incentives to complete online formative assessments. Australasian Journal of Educational Technology 37(4): 173-185. http://dx.doi.org/10.14742/ajet.6203. (Journal Articles)
  • Gunby P. and Watt R. (2021) A new approximation for the risk premium with large risks. Journal of Risk Finance 22(3/4): 279-295. http://dx.doi.org/10.1108/JRF-04-2020-0073. (Journal Articles)
  • Mueller-Langer F. and Watt R. (2021) Optimal pricing and quality of academic journals and the ambiguous welfare effects of forced open access: A two-sided model. Managerial and Decision Economics 42(8): 1945-1959. http://dx.doi.org/10.1002/mde.3375. (Journal Articles)
  • Watt R. (2021) The 2020 Nobel Memorial Prize in economics: the Canterbury connection. New Zealand Economic Papers 55(2): 166-172. http://dx.doi.org/10.1080/00779954.2021.1950200. (Journal Articles)
  • Fernández-Márquez CM., Vázquez FJ. and Watt R. (2020) Social influence on software piracy. Managerial and Decision Economics 41(7): 1211-1224. http://dx.doi.org/10.1002/mde.3167. (Journal Articles)
  • Watt R. (2020) Overlooked Results on the Competitive Firm under Output Price Risk: Alternative Sufficient Conditions for Downward Sloping Factor Demand Curves. Economics Letters November 2020 109507 http://dx.doi.org/10.1016/j.econlet.2020.109507. (Journal Articles)
  • Watt R. (2020) Contract theory and information goods. Handbook of Cultural Economics, Third Edition: 106-115. http://dx.doi.org/10.4337/9781788975803.00017. (Chapters)
  • Watt R. and Gunby P. (2020) Time is money: An economic analysis of the optimal pacing problem. Mathematical Social Sciences 108: 50-61. http://dx.doi.org/10.1016/j.mathsocsci.2020.08.003. (Journal Articles)
  • Watt R., Bonilla C. and Vergara M. (2020) Old and New Results in Entrepreneurship Under Risk. New York (USA): World Risk and Insurance Economics Congress, 3-7 Aug 2020. (Conference Contributions - Other)
  • Mumo R. and Watt R. (2019) Residential insurance market responses after earthquake: A survey of Christchurch dwellers. International Journal of Disaster Risk Reduction 40 http://dx.doi.org/10.1016/j.ijdrr.2019.101166. (Journal Articles)
  • Mueller-Langer F. and Watt R. (2018) HOW MANY MORE CITES IS A $3,000 OPEN ACCESS FEE BUYING YOU? EMPIRICAL EVIDENCE FROM A NATURAL EXPERIMENT. Economic Inquiry 56(2): 931-954. http://dx.doi.org/10.1111/ecin.12545. (Journal Articles)
  • Watt R. and Hogan S. (2018) Are athletes on the right track? The effect of availability of an all-weather athletics track on athletics performance. Sport in Society 21(3): 546-557. http://dx.doi.org/10.1080/17430437.2017.1346626. (Journal Articles)
  • Moreno I., Vázquez FJ. and Watt R. (2017) Rationality and honesty of consumers in insurance decisions. Journal of Economics and Business 89: 36-46. http://dx.doi.org/10.1016/j.jeconbus.2016.10.003. (Journal Articles)
  • Mumo R. and Watt R. (2017) An Investigation of Residential Insurance Demand-side Reactions After a Natural Catastrophe: The Case of the 2010–11 Christchurch Earthquakes. Asia-Pacific Journal of Risk and Insurance 11(2) 20160026 http://dx.doi.org/10.1515/apjri-2016-0026. (Journal Articles)
  • Watt R. and Vázquez FJ. (2017) An analysis of insurance demand in the newsboy problem. European Journal of Operational Research 259(3): 1064-1072. http://dx.doi.org/10.1016/j.ejor.2016.11.037. (Journal Articles)
  • Watt RI. (2017) Licensing of Copyright Works. New Palgrave Dictionary of Economics London: Palgrave Macmillan. http://dx.doi.org/10.1057/978-1-349-95121-5_3033-1. (Chapters)
  • Watt RI. and Davies B. (2017) Bundling and insurance of independent risks. London (UK): European Group of Risk and Insurance Economists, 18-20 Sep 2017. (Conference Contributions - Other)
  • Gunby PP. and Watt R. (2016) Optimal Pacing of 400m and 800m Races: A Standard Microeconomics Approach. RePEc. Commissioned by Department of Economics and Finance, University of Canterbury. (Discussion/Working Papers)
  • Watt RI. and Mumo R. (2016) The dual insurance model and its implications for insurance demand and supply post Christchurch earthquakes in New Zealand. Insurance and Risk Management 83(3-4): 135-167. (Journal Articles)
  • Vazquez F. and Watt R. (2015) An Analysis of Insurance in the Newsboy Problem. Munich, Germany: World Risk and Insurance Economics Congress, 3-6 Aug 2015. (Conference Contributions - Other)
  • Watt R. (2015) Copyright Collectives and Contracts: An Economic Theory Perspective. Glasgow, UK: European Policy on Intellectual Property, 2-3 Sep 2015. (Conference Contributions - Other)
  • Watt R. (2015) The Efficiencies of Aggregation: An Economic Theory Perspective on Collective Management of Copyright. Review of Economic Research on Copyright Issues 12(1-2): 26-45. (Journal Articles)
  • Gabaldón IM., Vázquez Hernández FJ. and Watt R. (2014) The effect of contract type on insurance fraud. Journal of Insurance Regulation 33: 197-230. (Journal Articles)
  • Watt R (Ed.) (2014) Handbook on the Economics of Copyright: A Guide for Students and Teachers. Cheltenham: Edward Elgar. 360. (Edited Volumes)
  • Watt R. (2013) Copyright law and royalty contracts. Handbook on the Digital Creative Economy: 197-208. http://dx.doi.org/10.4337/9781781004876.00029. (Chapters)
  • Watt R. and Vazquez F. (2013) Allocative downside risk aversion. International Journal of Economic Theory 9(4): 267-277. http://dx.doi.org/10.1111/j.1742-7363.2013.12019.x. (Journal Articles)
  • Watt RI. (2013) Copyright law and royalty contracts. In Towse R; Handke C (Ed.), Handbook on the Digital Creative Economy: 197-208.Edward Elgar. (Chapters)
  • Watt R. and Mueller-Langer F. (2012) Optimal Management of Academic Journals in a Two-sided Model. Boston, MA, USA: NBER Workshop on Scholarly Communication, Open Science and its Impact, 25-25 Oct 2012. (Conference Contributions - Other)
  • Watt R. and Vazquez FJ. (2012) The effect of prices on risk aversion. Theoretical Economics Letters 2(1): 40-44. http://dx.doi.org/10.4236/tel.2012.21007. (Journal Articles)
  • Moreno I., Vazquez F. and Watt R. (2011) The Effect of Contract Type on Insurance Fraud. Carmona, Spain: 4th Workshop on Risk Management and Insurance, 20-21 Oct 2011. (Conference Contributions - Other)
  • Moreno I., Vazquez F. and Watt R. (2011) The Effect of Contract Type on Insurance Fraud. Munich, Germany: Munich Behavioural Insurance Economics Workshop, 11-13 Dec 2011. (Conference Contributions - Other)
  • Moreno I., Vazquez F. and Watt R. (2011) The Effect of Contract Type on Insurance Fraud. Vienna, Austria: EGRIE Annual Congress, 19-21 Sep 2011. (Conference Contributions - Other)
  • Vázquez F. and Watt R. (2011) Copyright piracy as prey-predator behavior. Journal of Bioeconomics 13(1): 31-43. http://dx.doi.org/10.1007/s10818-010-9098-1. (Journal Articles)
  • Watt R. (2011) A Note on Greater Downside Risk Aversion. International Centre for Economic Research. (Discussion/Working Papers)
  • Watt R. (2011) Indirect Copyright Infringement Libability for ISPs and the Economics of Contracts Under Asymmetric Information. International Centre for Economic Research. (Discussion/Working Papers)
  • Watt R. (2011) Revenue Sharing as Compensation for Copyright Holders. Review of Economic Research on Copyright Issues 8(1): 51-97. (Journal Articles)
  • Watt R. (2011) Revenue Sharing as Compensation for Copyright Holders. Wellington, New Zealand: New Zealand Association of Economists Annual Congress, 29 Jun-1 Jul 2011. (Conference Contributions - Other)
  • Watt R. (2011) The Microeconomics of Risk and Information. Basingstoke: Palgrave Macmillan. 240pp. (Authored Books)
  • Baqaee R. and Watt R. (2010) Sharing a Risky Cake. Reserve Bank of NZ Working Paper, DP2010/06. (Discussion/Working Papers)
  • Servatka M., Tucker S. and Watt R. (2010) How Does an Increase in Risk Affect Insurance Demand? Experimental Evidence. Melbourne, Australia: 2010 Asia-Pacific Economic Science Association (ESA) Conference, 18-21 Feb 2010. (Conference Contributions - Other)
  • Watt R. (2010) Copyright and Contract Law: Economic Theory of Copyright Contracts. Journal of Intellectual Property Law 18(1): 173-206. (Journal Articles)
  • Watt R. (2010) Fair Copyright Remuneration: The Case of Music Radio. Review of Economic Research on Copyright Issues 7(2): 21-37. (Journal Articles)
  • Watt R. and Mueller-Langer F. (2010) Copyright and Open Access for Academic Works. Review of Economic Research on Copyright Issues 7(1): 45-65. (Journal Articles)
  • Watt R. and Vazquez F. (2010) A Note on the Intensity of Downside Risk Aversion. International Centre for Economic Research. (Discussion/Working Papers)
  • Watt R. and Vazquez F. (2010) Allocative Downside Risk Aversion. Auckland, New Zealand: New Zealand Association of Economists Annual Congress, 30 Jun-2 Jul 2010. (Conference Contributions - Other)
  • Watt R. and Vazquez F. (2010) Allocative Downside Risk Aversion. Singapore: World Risk and Insurance Economics Congress, 25-29 Jul 2010. (Conference Contributions - Other)
  • Servatka M., Tucker S. and Watt R. (2009) How Does an Increase in Risk Affect Insurance Demand? Experimental Evidence. Bergen, Norway: EGRIE Annual Congress, 21-23 Sep 2009. (Conference Contributions - Other)
  • Watt R. (2009) How Does Interest Rate Policy Affect Inflation? A Simple General Equilibrium Model With The Interest Rate As The Policy Instrument. Review of Economic Design 13(4): 345-360. http://dx.doi.org/10.1007/s10058-009-0091-x. (Journal Articles)
  • Watt R. (2009) An Empirical Analysis of the Economics of Copyright: How Valid Are the Results of Studies in Developed Countries for Developing Countries? In Organization WIP (Ed.), The Economics of Intellectual Property: Suggestions for Further Research in Developing Countries and Countries with Economies in Transition: 65-99. Geneva: World Intellectual Property Organization. (Chapters)
  • Watt R. and Vazquez F. (2009) Optimal Accident Compensation Schemes. Spanish Economic Review 11(1): 75-82. http://dx.doi.org/10.1007/s10108-008-9047-5. (Journal Articles)
  • Louberge H. and Watt R. (2008) Insuring a risky investment project. Insurance, Mathematics and Economics 42(1): 301-310. http://dx.doi.org/10.1016/j.insmatheco.2007.03.003. (Journal Articles)
  • Mills S. and Watt R. (2008) The More The Merrier? Information and Information Gathering in Insurance Markets. Barcelona, Spain: XIII International Conference on the Foundations and Applications of Utility, Risk and Decision Theory, 2-5 Jul 2008. (Conference Contributions - Other)
  • Mills S. and Watt R. (2008) The More The Merrier? Information and Information Gathering in Insurance Markets. Toulouse, France: 35th Seminar of the European Group of Risk and Insurance Economists (EGRIE), 15-17 Sep 2008. (Conference Contributions - Other)
  • Towse R. and Watt R. (2008) Recent Trends in the Economics of Copyright. Cheltenham: Edward Elgar. 312pp. (Edited Volumes)
  • Watt R. (2008) What can the economics of intellectual property learn from the economics of insurance? Review of Law and Economics 3(3). (Journal Articles)
  • Liebowitz SJ. and Watt R. (2007) How to best ensure remuneration for creators in the market for music? Copyright and its alternatives. In McAleer M; Oxley L (Ed.), Economic and Legal Issues in Intellectual Property: 31-64. Oxford: Blackwell Publishing. (Chapters)
  • Vazquez FJ. and Watt R. (2007) Copyright Piracy as Prey-Predator Behavior. Berlin, Germany: Society for Economic Research on Copyright Issues Annual Congress 2007, 12-13 Jul 2007. (Conference Contributions - Other)
  • Watt R. (2007) A New Approximation to the Risk Premium with Large Risks. Christchurch, New Zealand: 48th Annual Conference New Zealand Association of Economists (NZAE), 27-29 Jun 2007. (Conference Contributions - Other)
  • Watt R. (2007) A New Approximation to the Risk Premium With Large Risks. Cologne, Germany: EGRIE Annual Congress, 17-19 Sep 2007. (Conference Contributions - Other)
  • Watt R. (2007) Patent and/or Copyright for Software: What Has Been Done So Far? Review of Economic Research on Copyright Issues 4(1): 3-14. (Journal Articles)
  • Watt R. (2007) What Can the Economics of Intellectual Property Learn From the Economics of Insurance? Review of Law and Economics 2007(3) Article 3. (Journal Articles)
  • Watt R. and Louberge H. (2007) A More Reasonable Model of Insurance Demand: Clarifications and Further Results. Christchurch, New Zealand: 48th Annual Conference New Zealand Association of Economists (NZAE), 27-29 Jun 2007. (Conference Contributions - Other)
  • Watt R. and Vázquez FJ. (2007) An Experimental Comparison of Two Insurance Contracts. Christchurch, New Zealand: 48th Annual Conference New Zealand Association of Economists (NZAE), 27-29 Jun 2007. (Conference Contributions - Other)
  • Liebowitz S. and Watt R. (2006) How to Best Ensure Remuneration for Creators in the Market for Music? Copyright and its Alternatives. Journal of Economic Surveys 20(4): 513-545. http://dx.doi.org/10.1111/j.1467-6419.2006.00259.x. (Journal Articles)
  • Loubergé H. and Watt R. (2006) The Effect of an Increase in the Probability of Loss When Risk is Endogenous. Santa Barbara, CA, USA: Western Risk and Insurance Association Annual Meeting, 2-5 Jan 2006. (Conference Contributions - Other)
  • Moreno I., Vazquez F. and Watt R. (2006) Can Bonus-Malus Alleviate Insurance Fraud? Journal of Risk and Insurance 73(1): 123-151. http://dx.doi.org/10.1111/j.1539-6975.2006.00168.x. (Journal Articles)
  • Watt R. (2006) Licensing and Royalty Contracts for Copyright. Review of Economic Research on Copyright Issues 3(1): 1-17. (Journal Articles)
  • Watt R. and Towse R. (2006) Copyright Protection Standards and Authors' Time Allocation. Industrial and Corporate Change 15(6): 995-1011. http://dx.doi.org/10.1093/icc/dtl023. (Journal Articles)
  • Loubergé H. and Watt R. (2005) The Effect of an Increase in the Probability of Loss When Risk is Endogenous. Salt Lake City, UT, USA: World Risk and Insurance Economics Congress (WRIEC), 7 Aug 2005. (Conference Contributions - Other)
  • Watt R. (2005) A Unifying Theory of Copyright and Patent. International Journal of the Economics of Business 12(3): 389-402. (Journal Articles)
  • Watt R. (2005) Adverse Selection and the Legal Protection of Intellectual Property Rights. In Leveque F; Shelanski H (Ed.), Antitrust, Patent and Copyright: 127-148. Northampton: Edward Elgar Publishing Ltd.. (Chapters)
  • Watt R. and Snow A. (2005) Risk Sharing and the Distribution of Copyight Collective Income. In Takeyama L; Gordon W; Towse R (Ed.), Developments in the Economics of Copyright: Research and Analysis: 23-36. Northampton: Edward Elgar Publishing Ltd. (Chapters)
  • Loubergé H. and Watt R. (2004) On the Demand for Budget Constrained Insurance. Marseille, France: 31st Annual Seminar of the European Group of Risk and Insurance Economists, 1 Sep 2004. (Conference Contributions - Other)
  • Watt R. (2004) A Comment: The 'Copyright Factors'. Review of Economic Research on Copyright Issues 1(1): 71-78. (Journal Articles)
  • Watt R. (2004) How Different are Patents and Copyrights, and How Different Should They Be? Paris, France: International Conference on Antitrust, Patent and Copyright, 15 Jan 2004. (Conference Contributions - Other)
  • Watt R. (2004) The Past and the Future of the Economics of Copyright. Review of Economic Research on Copyright Issues 1(1): 151-172. (Journal Articles)
  • Watt R. and Loubergé H. (2004) On the Demand for Budget Constrained Insurance. In Proceedings of the Risk Theory Society 2004: 39pp. (Conference Contributions - Published)
  • Alonso J. and Watt R. (2003) Efficient Distribution of Copyright Income. In Gordon WJ; Watt R (Ed.), The Economics of Copyright: Developments in Research and Analysis: 81-103. Northampton: Edward Elgar Publishing Ltd. (Chapters)
  • Gordon WJ. and Watt R. (2003) The Economics Of Copyright: Developments in Research and Analysis. Northampton: Edward Elgar Publishing Ltd. 232pp. (Edited Volumes)
  • Snow A. and Watt R. (2003) Risk Sharing and the Distribution of Copyright Collective Income. Northampton, MA, USA: 2nd Annual Congress of the Society for Economic Research on Copyright Issues (SERCI), 18 Jun 2003. (Conference Contributions - Other)
  • Watt R. (2003) A Simple Theory of Insurance with Direct Utility. Zurich, Switzerland: 30th Annual Seminar of the European Group of Risk and Insurance Economists, 15 Sep 2003. (Conference Contributions - Other)
  • Watt R. (2003) Curtailing Ex-Post Fraud in Risk Sharing Arrangements. European Journal of Law and Economics 16(2): 247-263. (Journal Articles)
  • Watt R. and Rodriquez C. (2003) El Mercado Español de Carburantes: Un Análisis de Oligopolio. Economía Industrial 353: 123-128. (Journal Articles)
  • Alonso J. and Watt R. (2002) Efficient Distribution of Copyright Revenue. Madrid, Spain: 1st Annual Congress of the Society for Economic Research on Copyright Issues (SERCI), 3 Jun 2002. (Conference Contributions - Other)
  • Vázquez F., Moreno I. and Watt R. (2002) Can Bonus-Malus Alleviate Insurance Fraud? Newport, RI, USA: International Insurance Fraud Congress. Insurance Claim Fraud: Developing the Models and Mining the Data, 1 Nov 2002. (Conference Contributions - Other)
  • Vazquez FJ. and Watt R. (2002) The Price of Risk with Incomplete Knowledge on the Utility Function. Theory and Decision 53(3): 271-287. (Journal Articles)
  • Watt R. (2002) A Generalized Oligopoly Model. Metroeconomica 53(1): 46-55. http://dx.doi.org/10.1111/1467-999X.00135. (Journal Articles)
  • Watt R. (2002) Defending Expected Utility Theory. Journal of Economic Perspectives 16(2): 227-228. (Journal Articles)
  • Watt R. and Vázquez FJ. (2002) Optimal Accident Compensation Schemes. In Proceedings of Risk Theory Society 2002: 16pp. (Conference Contributions - Published)
  • Watt R., Moreno I. and Vazquez F. (2002) Experience rating as a mechanism against insurance fraud. Nottingham, UK: 29th Annual Seminar of the European Group of Risk and Insurance Economists, 15 Sep 2002. (Conference Contributions - Other)
  • Moreno I., Vázquez FJ. and Watt R. (2001) A Comparison of Two Insurance Contracts Formats: Theory and Experimental Evidence. Strasbourg, France: 28th Seminar of the European Group of Risk and Insurance Economists, 17 Sep 2001. (Conference Contributions - Other)
  • Vázquez F., Moreno I. and Watt R. (2001) An Experiment on Rationality in Insurance Decisions. University of Turin, Italy: 10th Congress of Foundations of Uncertainty and Rationality, 1 May 2001. (Conference Contributions - Other)
  • Watt R., Vázquez FJ. and Moreno I. (2001) An Experiment on Rational Insurance Decisions. Theory and Decision 51(2-4): 247-296. (Journal Articles)
  • Watt R. (2000) Copyright and Economic Theory: Friends or Foes? Cheltenham: Edward Elgar. 224pp. (Authored Books)
  • Watt R. and Vázquez F. (2000) The optimal deductible for support contingent insurance contract: An existence theorem. Rome, Italy: 27th Seminar of the European Group of Risk and Insurance Economists, 18 Sep 2000. (Conference Contributions - Other)
  • Watt R. and Vázquez FJ. (2000) Support Contingent Insurance: The Optimality of Supplementary Coverage. In Proceedings of Risk Theory Society 2000: 18pp. (Conference Contributions - Published)
  • Vázquez FJ. and Watt R. (1999) A theorem on multi-period insurance contracts without commitment. Insurance: Mathematics and Economics 24(3): 273-280. http://dx.doi.org/10.1016/S0167-6687(98)00057-2. (Journal Articles)
  • Watt R. (1997) The optimal trading partner for reciprocal insurance treaties1. Scandinavian Actuarial Journal 1997(2): 97-112. http://dx.doi.org/10.1080/03461238.1997.10413981. (Journal Articles)
  • Watt R. and Vazquez FJ. (1997) Full insurance, Bayesian updated premiums, and adverse selection. GENEVA Papers on Risk and Insurance Theory 22(2): 135-150. http://dx.doi.org/10.1023/A:1008668101366. (Journal Articles)

Editorial Work

  • Review of the Economic Research on Copyright Issues Managing Editor ( 2000 - 2005)
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