Associate Professor Andrew Wait

PhD, Australian National University
Senior Lecturer

H04 - Merewether Building
The University of Sydney

Telephone +61 2 9351 3060
Fax +61 2 9351 4341

Website Working Papers
Contact Details

Biographical details

Andrew Wait received his PhD from the Australian National University in 2002. His main areas of interest are industrial organisation and contract theory, in particular the application of holdup problem to bargaining and investment problems. Andrew's publications include: 'Hold-up with specific sequential investment', The Rand Journal of Economics, 2004 (with Vladimir Smirnov); 'Timing of investment, welfare and holdup' International Journal of Industrial Organization, 22(3), 413-25, 2004 (with Vladimir Smirnov); and 'Tendering and regulation', Australian Journal of Management, 28(3), 345-370, 2003 (with Flavio Menezes and Rohan Pitchford).

Currently Andrew is working several research projects. First, he is studying coordination games with a second-mover advantage with Vladimir Smirnov. This research is supported by a School of Economics and Political Science grant. Second, in collaboration with Kieron Meagher from the University of New South Wales, Andrew is researching the allocation of decision-making authority in organizations.

Research interests

Industrial Organization and International Trade

Selected grants

2006

  • Strategic Contracting with Complementary Assets under Assymetric Information; Pitchford R, Wait A; Australian Research Council (ARC)/Discovery Projects (DP).

2005

  • Market contingent hierarchies: theory and evidence.; Van Zandt T, Wait A, Meagher K; Australian Research Council (ARC)/Discovery Projects (DP).

2004

  • School of Economics and Political Science Research grant; Wait A, Smirnov V; School of Economics and Business, University of Sydney/Research Grant.

2002

  • Faculty of Economics and Business Travel Grant; Wait A; School of Economics and Business, University of Sydney/Travel Grant.

Selected publications

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Book Chapters

  • Smirnov, V., Wait, A. (2004). Industry Sunk Cost And Entry Dynamics. In Ralf Becker and Stan Hurn (Eds.), Contemporary Issues in Economics and Econometrics : Theory and Application, (pp. 34-49). Great Britain: Edward Elgar Publishing.

Journals

  • Wait, A., Meagher, K. (2014). Delegation of Decisions About Change in Organizations: The Roles of Competition, Trade, Uncertainty, and Scale. Journal of Law Economics and Organization. [More Information]
  • Mai, M., Smirnov, V., Wait, A. (2014). Ownership, Access and Sequential Investment. Canadian Journal of Economics/Revue canadienne d'Économique, 47(1), 203-231. [More Information]
  • Gray, A., Nguyen, B., Wait, A. (2013). The Prodigal Corporation: an Analysis on the Effectiveness of the ACCC's Immunity Policy for Cartel Conduct. Australian Economic Papers, 52(1), 38-51. [More Information]
  • Smirnov, V., Wait, A. (2011). Bundling in Auctions with Non-Linear Valuations. Australian Economic Papers, 50(1), 17-26. [More Information]
  • Rush, A., Smirnov, V., Wait, A. (2010). Communication Breakdown: Consultation or Delegation from an Expert with Uncertain Bias. The BE Journal of Theoretical Economics, 10(1 (Article 34)), 1-27.
  • Smirnov, V., Wait, A. (2007). Market Entry Dynamics with a Second-Mover Advantage. The BE Journal of Theoretical Economics, 7(1 (article 11)), 1-23.
  • Basov, S., Smirnov, V., Wait, A. (2007). Market Niche, Flexibility and Commitment. Manchester School, 75(1), 122-130.
  • Smirnov, V., Wait, A. (2007). Staged Financing with a Variable Return. The BE Journal of Theoretical Economics, 7(1 (article 5)), 1-26.
  • Smirnov, V., Wait, A. (2005). Coordination games and the option to wait. Economics Bulletin, 3(18), 1-4.
  • Wait, A. (2005). Holdup and Innovation. Journal of Economics, 85(3), 277-295. [More Information]
  • Pitchford, R., Wait, A. (2005). Sydney Airport Land: Appropriate Value for Regulatory Purposes. Agenda: a journal of policy analysis and reform, 12(1), 19-31.
  • Smirnov, V., Wait, A. (2004). Hold-Up And Sequential Specific Investments. Rand Journal of Economics, 35(2), 386-400.
  • Smirnov, V., Wait, A. (2004). Industry sunk costs and entry dynamics. Economics Bulletin, 12(4), 1-7.
  • Smirnov, V., Wait, A. (2004). Timing Of Investments, Holdup And Total Welfare. International Journal of Industrial Organization, 22(3), 413-425. [More Information]
  • Menezes, F., Pitchford, R., Wait, A. (2003). Tendering and bidding for access: a regulator's guide to auctions. Australian Journal of Management, 28(3), 345-370.

Conferences

  • Bel, R., Smirnov, V., Wait, A. (2013). On Broadway and sports: how to make a winning team. 7th Annual Organizational Economics Workshop 2013, Sydney, Australia: University of Sydney.
  • Nguyen, B., Wait, A. (2012). Participation and decision making in family firms. 6th Annual Organizational Economics Workshop, Sydney: University of Sydney School of Economics.
  • Wait, A., Wright, J. (2012). Use Your Skills: The Allocation of Decision Rights and Firm Performance. 10th Annual International Industrial Organization Conference, Boston, Massachusetts: The Industrial Organization Society.
  • Bel, R., Smirnov, V., Wait, A. (2011). The Treason of the Margin (or The Synergy Paradox). Australasian Meeting of the Econometric Society ESAM 2011, Adelaide, Australia: Econometric Society.
  • Wait, A., Wright, J. (2010). Decisions, firms and families. 39th Australian Conference of Economists ACE 2010, Australia: Economic Society of Australia.
  • Mai, M., Smirnov, V., Wait, A. (2009). Timing, investment and optimal ownership. 38th Australian Conference of Economists ACE 2009, Adelaide: Economic Society of Australia.
  • Rush, A., Smirnov, V., Wait, A. (2009). Uncertainty, delegation and communication. 38th Australian Conference of Economists ACE 2009, Adelaide: Economic Society of Australia.
  • Meagher, K., Wait, A. (2005). Delegation of decision making, competition and business strategy. 34th Australian Conference of Economists ACE 2005, Melbourne: University of Melbourne and ACE.
  • Smirnov, V., Wait, A. (2002). Hold-up and sequential specific investments. Latin American Econometric Society Meetings, Brazil: Fgv-Eaesp.
  • Smirnov, V., Wait, A. (2002). Industry sunk costs and entry dynamics. Econometric Society Australasian Meeting 2002, Australia: Queensland University of Technology.

Working Paper Internal

  • Mai, M., Smirnov, V., Wait, A. (2011). Ownership, access and sequential investment.
  • Bel, R., Smirnov, V., Wait, A. (2011). Swarm of Innovators: Information, Leadership and Innovation.

2014

  • Wait, A., Meagher, K. (2014). Delegation of Decisions About Change in Organizations: The Roles of Competition, Trade, Uncertainty, and Scale. Journal of Law Economics and Organization. [More Information]
  • Mai, M., Smirnov, V., Wait, A. (2014). Ownership, Access and Sequential Investment. Canadian Journal of Economics/Revue canadienne d'Économique, 47(1), 203-231. [More Information]

2013

  • Bel, R., Smirnov, V., Wait, A. (2013). On Broadway and sports: how to make a winning team. 7th Annual Organizational Economics Workshop 2013, Sydney, Australia: University of Sydney.
  • Gray, A., Nguyen, B., Wait, A. (2013). The Prodigal Corporation: an Analysis on the Effectiveness of the ACCC's Immunity Policy for Cartel Conduct. Australian Economic Papers, 52(1), 38-51. [More Information]

2012

  • Nguyen, B., Wait, A. (2012). Participation and decision making in family firms. 6th Annual Organizational Economics Workshop, Sydney: University of Sydney School of Economics.
  • Wait, A., Wright, J. (2012). Use Your Skills: The Allocation of Decision Rights and Firm Performance. 10th Annual International Industrial Organization Conference, Boston, Massachusetts: The Industrial Organization Society.

2011

  • Smirnov, V., Wait, A. (2011). Bundling in Auctions with Non-Linear Valuations. Australian Economic Papers, 50(1), 17-26. [More Information]
  • Mai, M., Smirnov, V., Wait, A. (2011). Ownership, access and sequential investment.
  • Bel, R., Smirnov, V., Wait, A. (2011). Swarm of Innovators: Information, Leadership and Innovation.
  • Bel, R., Smirnov, V., Wait, A. (2011). The Treason of the Margin (or The Synergy Paradox). Australasian Meeting of the Econometric Society ESAM 2011, Adelaide, Australia: Econometric Society.

2010

  • Rush, A., Smirnov, V., Wait, A. (2010). Communication Breakdown: Consultation or Delegation from an Expert with Uncertain Bias. The BE Journal of Theoretical Economics, 10(1 (Article 34)), 1-27.
  • Wait, A., Wright, J. (2010). Decisions, firms and families. 39th Australian Conference of Economists ACE 2010, Australia: Economic Society of Australia.

2009

  • Mai, M., Smirnov, V., Wait, A. (2009). Timing, investment and optimal ownership. 38th Australian Conference of Economists ACE 2009, Adelaide: Economic Society of Australia.
  • Rush, A., Smirnov, V., Wait, A. (2009). Uncertainty, delegation and communication. 38th Australian Conference of Economists ACE 2009, Adelaide: Economic Society of Australia.

2007

  • Smirnov, V., Wait, A. (2007). Market Entry Dynamics with a Second-Mover Advantage. The BE Journal of Theoretical Economics, 7(1 (article 11)), 1-23.
  • Basov, S., Smirnov, V., Wait, A. (2007). Market Niche, Flexibility and Commitment. Manchester School, 75(1), 122-130.
  • Smirnov, V., Wait, A. (2007). Staged Financing with a Variable Return. The BE Journal of Theoretical Economics, 7(1 (article 5)), 1-26.

2005

  • Smirnov, V., Wait, A. (2005). Coordination games and the option to wait. Economics Bulletin, 3(18), 1-4.
  • Meagher, K., Wait, A. (2005). Delegation of decision making, competition and business strategy. 34th Australian Conference of Economists ACE 2005, Melbourne: University of Melbourne and ACE.
  • Wait, A. (2005). Holdup and Innovation. Journal of Economics, 85(3), 277-295. [More Information]
  • Pitchford, R., Wait, A. (2005). Sydney Airport Land: Appropriate Value for Regulatory Purposes. Agenda: a journal of policy analysis and reform, 12(1), 19-31.

2004

  • Smirnov, V., Wait, A. (2004). Hold-Up And Sequential Specific Investments. Rand Journal of Economics, 35(2), 386-400.
  • Smirnov, V., Wait, A. (2004). Industry Sunk Cost And Entry Dynamics. In Ralf Becker and Stan Hurn (Eds.), Contemporary Issues in Economics and Econometrics : Theory and Application, (pp. 34-49). Great Britain: Edward Elgar Publishing.
  • Smirnov, V., Wait, A. (2004). Industry sunk costs and entry dynamics. Economics Bulletin, 12(4), 1-7.
  • Smirnov, V., Wait, A. (2004). Timing Of Investments, Holdup And Total Welfare. International Journal of Industrial Organization, 22(3), 413-425. [More Information]

2003

  • Menezes, F., Pitchford, R., Wait, A. (2003). Tendering and bidding for access: a regulator's guide to auctions. Australian Journal of Management, 28(3), 345-370.

2002

  • Smirnov, V., Wait, A. (2002). Hold-up and sequential specific investments. Latin American Econometric Society Meetings, Brazil: Fgv-Eaesp.
  • Smirnov, V., Wait, A. (2002). Industry sunk costs and entry dynamics. Econometric Society Australasian Meeting 2002, Australia: Queensland University of Technology.

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