Agostino Manduchi

Associate Professor Financial economics
Economics , Jönköping International Business School
Ph.D. in Science


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My main area of research is the economic analysis of the strategic interactions between market agents, given detailed and possibly realistic specifications of the exchange process. The objectives of this attempt to go beyond the more conventional approach to market equilibrium, based on "demand and supply curves," is twofold:
1) To provide the analytical support necessary for actual decision-makers, mainly in connection with the development of marketing strategies, with a special emphasis on pricing decisions.
2) To improve upon the "state of the art" understanding of the functioning of markets, and to obtain a better understanding of the specific features and the performance of different market structures. This research agenda features natural complementarities with Media economics, as media typically function as platforms through which the market agents interact. I am currently involved in a project with the Media Management and Transformation Center at JIBS.


I hold a degree in Economics and Banking from the University of Siena, Italy, and a PhD in Economics and Finance from Columbia Business School, New York City. I received my PhD in 1999, with a thesis on “Bounded Rationality and Strategic Interactions." Before joining JIBS, I held a position as Lecturer at Royal Holloway College, University of London.


Salim, R., Johansen, K., Manduchi, A., Säfsten, K. (2022). Automation Decisions in Manufacturing System Development Projects: The Wood Products Industry Perspective BioProducts Business, 7(1), 1-12. More information
Creane, A., Manduchi, A. (2022). Informative advertising in monopolistically competitive markets International Journal of Industrial Organization, 83. More information
Kärnä, A., Manduchi, A., Stephan, A. (2021). Distance still matters: Local bank closures and credit availability International Review of Finance, 21(4), 1503-1510. More information
Salim, R., Manduchi, A., Johansson, A. (2020). Investment Decisions on Automation of Manufacturing in the Wood Products Industry: A Case Study Bioproducts Business, 5(1), 1-12. More information
Bo, P., Manduchi, A. (2017). Disclosure-based price discrimination by information exchange platforms Information Economics and Policy, 41, 54-66. More information
Kayitare Tengera, F., Manduchi, A. (2015). Financial Viability of Rwanda Pension Scheme Fund Investments American International Journal of Research in Humanities, Arts and Social Sciences, 12(2), 183-197 Byron: International Association of Scientific Innovation and Research (IASIR) . More information
Manduchi, A. (2013). Non-neutral information costs with match-value uncertainty Journal of Economics, 109(1), 1-25. More information
Manduchi, A., Picard, R. (2009). Circulations, Revenues, and Profits in a Newspaper Market with Fixed Advertising Costs Journal of Media Economics, 22(4), 211-238. More information
Manduchi, A. (2004). Price discrimination of buyers with identical preferences and collusion in a model of advertising Journal of Economic Theory, 116(2), 347-356. More information

Doctoral thesis

Manduchi, A. (1999). Essays on Bounded Rationality, Complexity, and Strategic Interactions: Columbia Business School (Doctoral thesis). More information
Manduchi, A. (1995). Tre saggi su aspettative, informazione e problemi di coordinamento (University of Siena): English Title: Three Essays on Expectations, Information and Co-ordination Failures (Doctoral thesis). More information

Book chapter

Manduchi, A. (2015). The pricing of advertising. In: Robert G. Picard and Steven S. Wildman (Ed.), Handbook on the Economics of the Media (pp. 123 -147). Cheltenham, UK; Northampton, MA: Edward Elgar Publishing More information
Manduchi, A., Naldi, L. (2014). Clusters and Conglomerates in the Media Industry. In: Charlie  Karlsson, Börje Johansson, Roger R. Stough (Ed.), Agglomeration, Clusters and Entrepreneurship: Studies in Regional Economic DevelopmentMore information
Karlsson, C., Manduchi, A. (2001). Knowledge Spillovers in a Spatial Context: A Critical Review and Assesment. In: Manfred M. Fischer, Josef Fröhlich (Ed.), Knowledge, Complexity and Innovation Systems (pp. 101 -123). New York: Springer More information

Conference paper

Bo, P., Manduchi, A. (2020). A strategic analysis of the timing of advertising and price setting. Paper presented at Brown Bag Seminar in Economics and Finance, Jönköping International Business School, April 6, 2020. More information
Bo, P., Manduchi, A. (2016). Informative transactions, disclosure and privacy. 43rd EARIE Annual Conference, Lisbon, 26-28 August, 2016.. More information
Manduchi, A., Naldi, L. (2009). Clusters and conglomerates in the media industry. Trollhättan: Department of Economics and IT, University West, 12th Uddevalla Symposium, 11-13 June, 2009, Bari, Italy. More information
Picard, R., Manduchi, A. (2007). Circulation and Advertising: Why Are They Not Proportional?. 12th Uddevalla Symposium, 11-13 June, 2009, Bari, Italy. More information

Other publications

Salim, R., Johansson, A., Johansen, K., Manduchi, A., Säfsten, K. . Supporting automation decisions in manufacturing system development projects – The wood products industry perspective. More information
Manduchi, A., Petreski, A., Stephan, A. . Market for Apartment Swap and Rental Market. More information


Gustafsson, A., Manduchi, A., Stephan, A. (2019). Do local bank branches reduce SME credit constraints? Evidence from public-private bank interaction. More information
Creane, A., Manduchi, A. (2019). Informative Advertising in Monopolistically Competitive Markets. More information
Creane, A., Manduchi, A. (2018). Informative advertising in monopolistically competitive markets. More information
Manduchi, A. (1998). Similar Actions and Cooperation in the Centipede Played by Automata. More information