Guilherme Carmona

Professor Guilherme Carmona

Professor of Economics



After completing his PhD in Economics at the University of Minnesota in 2002, Professor Carmona joined the Faculty of Economics of the Universidade Nova de Lisboa in Lisbon (Portugal) as an Assistant Professor, where he obtained his Agregação in 2008. Shortly after, he moved to the Faculty of Economics at the University of Cambridge, first as a Visiting Lecturer during a sabbatical year from Nova, and then as a Lecturer from 2009 until 2012. In 2009 he became a Fellow of King's College (Cambridge). In 2012 he joined the Faculty of Business, Economics and Law at the University of Surrey as a Professor of Economics.

Research interests

Professor Carmona has published several research papers on economic theory and game theory and also a book on the existence and stability of Nash equilibrium (published by World Scientific). Besides economic theory and game theory, his research interests include voting in large elections, dynamic risk sharing, experimental evidence in games, macroeconomic policy, financial and monetary economics.


Guilherme Carmona (2016) Reducible Equilibrium Properties: Comments on Recent Existence Results, Economic Theory, 61, 431–455.
Guilherme Carmona and Konrad Podczeck (2016) Existence of Nash Equilibrium in Ordinal Games with Discontinuous Preferences, Economic Theory, 61, 457–478.
Guilherme Carmona and Luís Carvalho (2016) Repeated Two-Person Zero-Sum Games with Unequal Discounting and Private Monitoring, Journal of Mathematical Economics, 63, 131–138.
Mehmet Barlo, Guilherme Carmona and Hamid Sabourian (2016) Bounded Memory Folk Theorem, Journal of Economic Theory, 163, 728–774.
Guilherme Carmona (2018) On the Generic Robustness of Solution Concepts to Incomplete Information, Journal of Mathematical Economics, 75, 13-18.
Guilherme Carmona and Konrad Podczeck (2018) Invariance of the Equilibrium Set of Games with an Endogenous Sharing Rule, Journal of Economic Theory, 177, 1-33.
Guilherme Carmona and Konrad Podczeck (2018) The Conditions in the Existence Results for Discontinuous Games by Reny and by Simon and Zame are Incomparable, Games and Economic Behavior, 111, 16-19.
Guilherme Carmona (2019) On the Optimality of Monetary Trading, Economic Theory, forthcoming.
Guilherme Carmona (2019) On the Existence of Limit Admissible Equilibria in Discontinuous Games, Journal of Mathematical Economics, 81, 14-21.
Mehmet Barlo and Guilherme Carmona (2015) Strategic Behavior in Non-Atomic Games, Journal of Mathematical Economics, 60, 134–144.
Guilherme Carmona and Konrad Podczeck (2014) Existence of Nash Equilibrium in Games with a Measure Space of Players and Discontinuous Payoff Functions, Journal of Economic Theory, 152, 130-178.