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Professor David Newbery FBA


About this Fellow

Professor David Newbery, CBE, FBA, is the Research Director of the Cambridge Electricity Policy Research Group, Emeritus Professor of Applied Economics at the University of Cambridge. He is a Fellow of the British Academy and of the Econometric Society. He was President of the European Economic Association, 1996 and President of the International Association of Energy Economics, 2013. Educated at Cambridge with undergraduate degrees in Mathematics and Economics, a PhD and ScD in economics, he has managed research projects on commodity price stabilization, road pricing, the Hungarian transition to the market economy, utility privatisation and regulation, electricity restructuring and market design, transmission access pricing and has active research on market integration, transmission planning and finance, climate change policies, and the design of energy policy and energy taxation. Occasional economic advisor to the World Bank, DG ENER, Ofgem, Ofwat, and ORR, former member of the Competition Commission and chairman of the Dutch Electricity Market Surveillance Committee, currently a member of Ofgem's Network Innovation Competition, a member of the Panel of Technical Experts offering quality assurance to DECC on the delivery of the UK's Electricity Market Reform and Deputy Independent Member of the Single Electricity Market of the island of Ireland.


Current post

  • Emeritus Professor of Economics, University of Cambridge; Fellow, Churchill College, Cambridge

Past Appointments

  • Lecturer, University of Cambridge, 1966 - 1986
  • Professor of Applied Economics, University of Cambridge, 1988
  • Director of the Department of Applied Economics, University of Cambridge, 1988
  • Director, Department of Applied Economics, University of Cambridge, Corpus Christi College University of Cambridge, 1988 - 2003
  • Emeritus Professor of Economics, Churchill College University of Cambridge, 2003
  • Research Fellow in the Control and Power Research Group, Imperial College of Science and Technology University of London, 2011 - 2016


‘The Choice of Techniques and the Optimality of Market Equilibrium with Rational Expectations’ w J Stiglitz Journal of Political Economy, 1982, 90(2), April, 223-46

‘Competition in the British Electricity Spot Market’, w/R. Green Journal of Political Economy 1992, 100(5), October, 929-53

Optimal Tax Rates and Tax Design during Systemic Reform’ Journal of Public Economics, 1997, 63(2), 177-206

‘Agricultural pricing and Public Investment’ Journal of Public Economics 1992, 47(2), March, 253-272

‘Optimal Tax Rates and Tax Design during Systemic Reform’ Journal of Public Economics 1997, 63(2), 177-206

‘Power Markets and Market Power’, Energy Journal 1995, 16(3), 41-66

Competition, Contracts and Entry in the Electricity Spot Market’ RAND Journal of Economics, 1998 29(4), Winter, 726-49

‘Disadvantageous Oil Tariffs and Dynamic Consistency’ w/E.Maskin American Economic Review 1990 80 (1), March, 143-56

The theory of commodity price stabilization: a study in the economics of risk 1981

Road damage externalities and road user charges Econometrica 1988

Privatization, restructuring and regulation in network utilities 2000

Other Economics and Economic History Fellows

Professor Graham Loomes

The theoretical and empirical analysis of people’s values, judgments and decisions, incorporating psychological insights into models of economic behaviour, with policy applications to health, safety, environmental benefits and consumer welfare

Professor Francesco Caselli

Economic development and, in particular, technology choice and transfer; politics and development; economics of natural-resource abundance

Professor Joel Mokyr

Economic history of Europe, particularly the roots of technological progress and economic growth in Europe during the Industrial Revolution

Professor Stephen Broadberry

Economic history; development of the world economy since AD 1000; the Great Divergence; international comparisons of productivity; wars and economic performance