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Experiments in Economics
Why simulate an auction? How do experiments in economics differ from those in psychology? Assistant Professor Alexander Usvitskiy, Head of the Laboratory for Experimental Economics and Finance, discusses the laboratory's activities and research approaches.

When Circumstances Are Stronger Than Habits: How Financial Stress Affects Smoking Cessation
HSE researchers have found that the likelihood of quitting smoking rises with increasing financial struggles. While low levels of financial difficulties do not affect smoking behaviour, moderate financial stress can increase the probability of quitting by 13% to 21%. Responses to high financial stress differ by gender: men are almost 1.5 times more likely to give up cigarettes than under normal conditions, whereas no significant effect is observed on women’s decisions to quit smoking. These conclusions are based on data from the Russia Longitudinal Monitoring Survey (RLMS-HSE) for 2000–2023 and have been published in Monitoring of Public Opinion: Economic and Social Changes.

‘Sometimes a Student’s Question Will Spark a New Angle on a Problem I’ve Been Working on’
Nicolas Lagios joined the International College of Economics and Finance (ICEF) at HSE University–Moscow as an assistant professor in 2025. He holds a Master’s and a PhD in Economics and his research interests include political economy, cultural economics, and applied economics. In this interview, Nicolas talks about the qualities that make HSE students exceptional, the overlap between organisational psychology and his research, and why Moscow strikes the ideal work–life balance.

AI Overestimates How Smart People Are, According to HSE Economists
Scientists at HSE University have found that current AI models, including ChatGPT and Claude, tend to overestimate the rationality of their human opponents—whether first-year undergraduate students or experienced scientists—in strategic thinking games, such as the Keynesian beauty contest. While these models attempt to predict human behaviour, they often end up playing 'too smart' and losing because they assume a higher level of logic in people than is actually present. The study has been published in the Journal of Economic Behavior & Organization.

Banking Crises Drive Biodiversity Loss
Economists from HSE University, MGIMO University, and Bocconi University have found that financial crises have a significant negative impact on biodiversity and the environment. This relationship appears to be bi-directional: as global biodiversity declines, the likelihood of new crises increases. The study examines the status of populations encompassing thousands of species worldwide over the past 50 years. The article has been published in Economics Letters, an international journal.

‘Teaching Is a Learning Experience for Me—Every Question Is an Opportunity to Update My Lecture Material’
Kemal Kivanc Akoz is an Assistant Professor of the Department of Theoretical Economics at the Faculty of Economic Sciences. He has been at HSE University for six years and his current activities include research into marriage market dynamics and information agreements among groups of agents. In this interview with the HSE News Service, Kemal talks about the subjects of his research, the teaching approach that led to him being named one of the university’s Best Teachers, his favourite places to get a coffee in Moscow, and more.

‘I Hope You Have Entered the Economic Profession Consciously’
On November 11, 2024, the HSE Faculty of Economic Sciences hosted a celebration for Economist Day. Many of the university's partners came to congratulate HSE on the occasion. The atrium on Pokrovsky Bulvar hosted booths from VkusVill, Ozon, HeadHunter, Wildberries, and other leading companies. Students and professors participated in quizzes, spun the wheel of fortune, painted, and crafted.

Maxim Reshetnikov: ‘An Effective Open Market Economy Has Been Built in Russia’
On November 11, 2024, during Economist Day in Russia, Maxim Reshetnikov, Russian Minister of Economic Development, spoke to students of the HSE Faculty of World Economy and International Affairs about Russia’s foreign economic activities, how the country managed to withstand unprecedented sanctions pressure, and the current state of its development.

FES Announces the Winner of the Nobel Prize in Economics 2024 Prediction Contest
The HSE Faculty of Economic Sciences summarised the results of its traditional prediction contest. FES holds this contest annually on the eve of Nobel Week. This year, the contest once again attracted participants from different regions of Russia and countries around the world. Remarkably, one participant managed to predict all three laureates of the 2024 Economics Prize.

Try Your Hand at Predicting the 2024 Nobel Prize Winner in Economics
The Faculty of Economic Sciences is launching its annual prediction contest. On October 14, the Nobel Committee will announce the winners of the Sveriges Riksbank Alfred Nobel Prize in Economic Sciences live on air. You have time to prepare and explore the landscape of contemporary economic thought. What topics and areas are considered particularly important and promising at the moment? Anyone can win.

