Anthony Kwasnica

Professor of Business Economics , Director, Laboratory for Economic Management and Auctions
Department: Risk Management, Laboratory for Economic Management and Auctions
Office: 332 Business Building
Phone: 814-863-0542
Fax: 814-865-6284
Member of Faculty Since: 1999


Anthony M. Kwasnica is Professor of Business Economics at Penn State University. He studies the role of private information in economic systems. He conducts both theoretical and experimental (laboratory) research on how individuals and institutions respond to these situations. Dr. Kwasnica is actively involved in research on the design and implementation of complex auctions. He has conducted experiments that have been used by the Federal Communications Commission (FCC) to consider new designs for the broadband spectrum auctions. Likewise, Dr. Kwasnica has investigated the susceptibility of various auction designs to collusion. In the past, Dr. Kwasnica has been contracted by the FCC to conduct an experimental examination of horizontal concentration limits in the cable television industry. He has also worked with the Defense Advanced Research Projects Agency (DARPA) on the design of markets to predict global instability. In addition to teaching undergraduate courses in mathematical modeling and decision analysis, Dr. Kwasnica has taught microeconomics, macroeconomics and decision-making under uncertainty to executives and MBAs at both The Smeal College of Business and The Kellogg School of Management. Dr. Kwasnica received his PhD in Social Science from the California Institute of Technology. Dr. Kwasnica is also Director of the Laboratory for Economics Management and Auctions (LEMA), which is Penn State’s only dedicated experimental economics laboratory.

Current Research

Dr. Kwasnica is currently conducting research on the coordination in games, the design of auctions for conservation projects, and the ability to real human decision maker to correctly account for information source uncertainty.


Microeconomic Theory
Game Theory
Experimental Economics

Publication List

Davis, Andrew M., Elena Katok, and Anthony M. Kwasnica, "Should Sellers Prefer Auctions? A Laboratory Comparison of Auctions and Sequential Mechanisms", Management Science, 2014, 60, 990-2008.

Shimon Kogan, Anthony M. Kwasnica, Roberto Weber, "Coordination in the Presence of Asset Markets", American Economic Review, 2011, 101, 927-947.

Anthony M. Kwasnica, Katerina Sherstyuk, "Collusion and equilibrium selection in auctions", The Economic Journal, 2007, Vol. 117, 120-145.

Ching-Hua Chen-Ritzo, Terry Harrison, Anthony M. Kwasnica, Doug Thomas, "Better, Faster, Cheaper: An experimental analysis of a multi-attribute reverse auction mechanism with restricted information feedback", Management Science, 2005, Vol. 51, Number 12, 1753-1762.

Anthony M. Kwasnica, John Ledyard, David Porter, Christine DeMartini, "A New and Improved Design for Multiobject Iterative Auctions", Management Science, 2005, Vol. 51, Number 3, 419-434.


Co-editor, Economic Inquiry


PhD, Social Science, California Insitute of Technology, 2000

MS, Social Science, California Institute of Technology, 1997

BA, Economics, University of Arizona, 1994


BA 512, Risk and Decisions

BA 597D, Advanced Microeconomic Analysis