Rachel Thurston Ph.D.


Rachel Thurston, Ph.D.

  • Position: Assistant Teaching Professor
  • Phone: (419) 372-8060
  • Email: rshafer@bgsu.edu
  • Address: 315 Maurer Center

I teach microeconomics at the principles, intermediate, and graduate level at BGSU. I also have taught advanced undergraduate courses in auctions and in industrial organization.

I earned my PhD in economics at the University of Illinois at Urbana-Champaign. My dissertation work considers traders in double auctions (auctions that have many buyers and many sellers) who are regret-minimizers, rather than expected utility maximizers. My interest in auction theory goes back to my years as an undergraduate student, when I majored in economics and mathematics at the University of Tulsa in Oklahoma. Auctions fascinate me because firstly they have very clearly-defined rules, which allows us to make rigorous and definite predictions and recommendations using game theory -- but auctions also reveal a very human aspect of markets, such as spite, collusion, or bluffing. My other research interests include game theory, behavioral economics, and decision theory.


Ph.D., Economics, University of Illinois Urbana-Champaign, May 2016

Doctoral School in Experimental Economics, Society for Economic Design and Bilgi Economics Lab of Istanbul (BELIS), June 30–July 1, 2015

B.S., Economics and Mathematics, University of Tulsa, May 2009


Assistant Professor of Economics, 2016-present

  • Auctions
  • Decision Theory
  • Mechanism Design

Shafer, R. C. (2019). Regret-Minimizers and Convergence to Price Taking. Games and Economic Behavior.

Updated: 08/04/2023 09:43AM