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Research Interests

Microeconomic Theory. Game Theory. Finance. Industrial Organisation. Economic Epidemiology.


Holds degrees from the University of Copenhagen (BSc Economics, MSc Economics), the London School of Economics (MSc Econometrics and Mathematical Economics) and the London Business School (PhD Economics). Was awarded a Mid-Career Fellowship by the British Academy (2012-2013).

Recent Publications

Published Papers

Toxvaerd, F.M.O. Rational Disinhibition and Externalities in Prevention, (2019) International Economic Review, 60, 1737-1755
Toxvaerd, F.M.O. Dynamic Limit Pricing, (2017) The RAND Journal of Economics, 48(1), 281-306
Chen, F. and Toxvaerd, F.M.O The Economics of Vaccination, (2014) Journal of Theoretical Biology, 363, 105-117
Gershkov, A. and Toxvaerd, F.M.O On Seller Estimates and Buyer Returns, (2013) Economic Theory Bulletin, 1 (1), 47-55
Toxvaerd, F.M.O. Strategic Merger Waves: a Theory of Musical Chairs, (2008) Journal of Economic Theory, 140(1), 1-26

Working Papers

Toxvaerd, F.M.O. and Matthies, K., Rather Doomed than Uncertain: Risk Attitudes and Sexual Behavior under Asymptomatic Infection, submitted
Toxvaerd, F.M.O. and Rowthorn, R., The Optimal Control of Infectious Diseases via Prevention and Treatment, updated 2015. Additional appendix available
Toxvaerd, F.M.O., On the Dynamics of Beliefs and Risky Sexual Behavior, 2014

Cambridge Working Papers in Economics

Makris, M. and Toxvaerd, F. Great Expectations: Social Distancing in Anticipation of Pharmaceutical Innovations, (2020) CWPE2097
Toxvaerd, F. and Rowthorn, R. On the Management of Population Immunity, (2020) CWPE2080
Rowthorn, R. and Toxvaerd, F.M.O The Optimal Control of Infectious Diseases via Prevention and Treatment, (2020) CWPE2027
Toxvaerd, F.M.O Equilibrium Social Distancing, (2020) CWPE2021

Recent Activities

Effect on Global Economy of Reimposed EU Lockdowns
Dr. Flavio Toxvaerd was interviewed for Cheddar News Network on Friday 23rd October 2020, where he discussed the reimplementation of lockdowns across Europe, due to the rise in COVID-19 cases and the global economic impact of this.
Published on - Tuesday 20th October 2020

Pandemic Fears and Reactions
Dr. Flavio Toxvaerd was quoted in The Telegraph article "Fears Wet Weather Could Fuel Covid 19 Spread." and also commented on a recent No. 10 briefing where Boris Johnson shifted emphasis from blanket lockdowns to the use of regional and local measures for Science Media Centre "Expert Reaction to No. 10 Press Briefing on 30th September "
Published on - Tuesday 6th October 2020

What To Do If COVID-19 Is Here To Stay
Dr. Chryssi Giannitsarou and Flavio Toxvaerd's VOXeu "What To Do If COVID-19 Is Here To Stay" was quoted in Jeffrey Sparshott's Wall Street Journal Economics Blog "Newsletter: Expiration Date".
Published on - Tuesday 6th October 2020

The Economics of Infection
Dr. Flavio Toxvaerd was quoted in the following news outlets; the New Scientist, Medscape, The Sun and the Huffington Post, about his ongoing research into "The Economics of Infection". Dr Toxvaerd has also published a new blog for Economics Observatory, "Externalities: Why Do We Need Coordinated Public Action In The Pandemic?".
Published on - Tuesday 29th September 2020

Covid-19 Policy Response Open Letter
Dr. Flavio Toxvaerd was asked by the Science Media Centre to comment on this open letter to the Prime Minister and his team from a group across medicine, academia and other areas "Covid-19 policy response Open Letter" and Dr. Toxvaerd’s responses were published on the "Science Media Centre site.
Published on - Friday 25th September 2020

Research Grants

Mid-Career Fellowship: The Economics Of Infectious Disease (British Academy)

Keynes Fund Sponsored Projects

Giannitsarou, C., Toxvaerd, F. and Collier, N., Mapping of Rumours and Information Diffusion (JHOQ)

COVID-19 Economic Research

Special Feature: The Economics of Infection


PIIB Paper 9 - Industrial Organisation: Theory
PIIB Paper 9 - Industrial Organisation: Topics
MPhil S170 - Industrial Organisation

PhD Students


Jakob Berndt
PhD Title: Indoctrination and Belief Manipulation in Social Networks
Research: Microeconomic Theory, Information Economics, Networks
Yi Wei
PhD Title: Dynamic Competition, Collusion and Intertemporal Capacity Constraint

Dr Flavio Toxvaerd

University Lecturer

Research Group:
Microeconomic Theory

CV: Curriculum Vitae

Personal Site:

Contact Details
Room: 32
Office Hours: By appointment only
College: Fellow Clare College