Staff profile

Damian Damianov is a Professor of Finance at Durham University Business School. He earned his PhD from the University of Heidelberg in 2006. Prior to joining Durham University in 2013, he held academic positions in the United States. 

His main areas of research are in real estate and household finance. He is developing novel methods for asset pricing and is applying them to understand the price dynamics in real estate, mortgage, and cryptocurrency markets. His most recent research explores the role of expectations in the formation of market bubbles. He is also conducting research on housing affordability and explores how public policy can help households attain home ownership and manage their wealth over their life cycle. 

• Asset Pricing
• Household Finance
• Real Estate Finance

Journal Article

• Chowdhury, M. S. R., Damianov, D. S., & Escobari, D. (2024). Price Exuberance and Contagion across Housing Markets: Evidence from US Metropolitan Areas. Journal of Real Estate Finance and Economics, 69, 132–163. https://doi.org/10.1007/s11146-022-09925-w
• Chowdhury, M. S. R., & Damianov, D. S. (2023). Uncertainty and Bubbles in Cryptocurrencies: Evidence from Newly Developed Uncertainty Indices. International Review of Financial Analysis, 91, Article 102949. https://doi.org/10.1016/j.irfa.2023.102949
• Carpenter, J., Damianov, D., & Matthews, P. (2022). Auctions for Charity: The Curse of the Familiar. International Economic Review, 63(3), 1109-1135. https://doi.org/10.1111/iere.12559
• Chowdhury, M., Damianov, D., & Elsayed, A. (2022). Bubbles and Crashes in Cryptocurrencies: Interdependence, Contagion, or Asset Rotation?. Finance Research Letters, 46(Part B), Article 102494. https://doi.org/10.1016/j.frl.2021.102494
• Damianov, D. S., Wang, X., & Yan, C. (2021). Google search queries, foreclosures, and house prices. Journal of Real Estate Finance and Economics, 63(2), 177-209. https://doi.org/10.1007/s11146-020-09789-y
• Damianov, D. S., & Escobari, D. (2021). Getting on and Moving Up the Property Ladder: Real hedging in the U.S. Housing Market Before and After the Crisis. Real Estate Economics, 49(4), 1201-1237. https://doi.org/10.1111/1540-6229.12276
• Damianov, D. S., & Elsayed, A. H. (2020). Does Bitcoin add value to global industry portfolios?. Economics Letters, 191, Article 108935. https://doi.org/10.1016/j.econlet.2019.108935
• Damianov, D., & Elsayed, A. (2018). On the Transmission of Spillover Risks between the Housing Market, the Mortgage and Equity REITs markets, and the Stock Market. Finance Research Letters, 27, 193-200. https://doi.org/10.1016/j.frl.2018.03.001
• Damianov, D., Sanders, S., & Yildizparlak, A. (2018). Asymmetric Endogenous Prize Contests. Theory and Decision, 85(3-4), 435-453. https://doi.org/10.1007/s11238-018-9661-0
• Damianov, D., & Peeters, R. (2018). Prize-Based Mechanisms for Fund-Raising: Theory and Experiments. Economic Inquiry, 56(3), 1562-1584. https://doi.org/10.1111/ecin.12570
• Damianova, E., & Damianov, D. (2018). Teaching Futures Markets with the “ZIP Code” Trading Game. Journal of financial education, 44(1), 79-99. https://doi.org/10.2307/26573537
• Damianov, D., & Peeters, R. (2017). On the Disclosure of Ticket Sales in Charitable Lotteries. Economics Letters, 150, 73-76. https://doi.org/10.1016/j.econlet.2016.11.012
• Damianov, D., & Escobari, D. (2016). Long-Run Equilibrium Shift and Short-Run Dynamics of U.S. Home Price Tiers during the Housing Bubble. Journal of Real Estate Finance and Economics, 53(1), 1-28. https://doi.org/10.1007/s11146-015-9523-2
• Damianov, D. (2015). Should Lotteries Offer Discounts on Multiple Tickets?. Economics Letters, 126, 84-86. https://doi.org/10.1016/j.econlet.2014.11.002
• Escobari, D., Damianov, D., & Bello, A. (2015). A Time Series Test to Identify Housing Bubbles. Journal of Economics and Finance, 39(1), 136-152. https://doi.org/10.1007/s12197-013-9251-5
• Damianov, D., & Pagan, J. (2013). Health Insurance Coverage, Income Distribution and Healthcare Quality in Local Healthcare Markets. Health Economics, 22(8), 987-1002. https://doi.org/10.1002/hec.2874
• Damianov, D., & Sanders, S. (2012). Why Don't You Two Get a Room? A Puzzle and Pricing Model of Extra Services in Hotels. Journal of Industrial Organization Education, 6(1), Article 1035. https://doi.org/10.1515/1935-5041.1035
• Damianov, D. (2012). Seller Competition by Mechanism Design. Economic Theory, 51(1), 105-137. https://doi.org/10.1007/s00199-010-0597-z
• Calafiore, P., & Damianov, D. (2011). The Effect of Time Spent Online on Student Achievement in Economics and Finance Online Courses. The Journal of Economic Education, 42(3), 209-223. https://doi.org/10.1080/00220485.2011.581934
• Damianov, D., & Sanders, S. (2011). Status Spending Races, Cooperative Consumption, and Voluntary Public Income Disclosure: A Classroom Experiment
• Damianov, D. (2011). A Classroom Experiment on Status Goods and Consumer Choice
• Damianov, D., & Becker, J. (2010). Auctions with Variable Supply: Uniform Price versus Discriminatory. European Economic Review, 54(4), 571-593. https://doi.org/10.1016/j.euroecorev.2009.09.002
• Damianov, D., Oechssler, J., & Becker, J. (2010). Uniform vs. Discriminatory Auctions with Variable Supply—Experimental Evidence. Games and Economic Behavior, 68(1), 60-76. https://doi.org/10.1016/j.geb.2009.06.008
• Damianov, D., Kupczynski, L., Calafiore, P., Damianova, E., Soydemir, G., & Gonzalez, E. (2009). Time Spent Online and Student Performance in Online Business Courses: A Multinomial Logit Analysis
• Damianov, D. (2008). The Uniform Price and the Discriminatory Auction with Variable Supply
• Becker, J., & Damianov, D. (2006). On the Existence of Symmetric Mixed Strategy Equilibria. Economics Letters, 90(1), 84-87. https://doi.org/10.1016/j.econlet.2005.07.005
• Damianov, D. (2005). The Uniform Price Auction with Endogenous Supply. Economics Letters, 88(2), 152-158. https://doi.org/10.1016/j.econlet.2005.02.004