Professor David Mayston



  • MA(Cantab)
  • MSc(London)
  • PhD(Cantab)

Fellow, Royal Society of Arts (FRSA)
Member of editorial board, Financial Accountability and Management

Departmental roles

  • Director, MSc Programme in Project Analysis, Finance and Investment
  • Module Review Committee (ex officio, PG Programme Director PAFI)
  • Performance Reviewer



  • Effectiveness analysis and resource allocation in health care and education
  • Human capital investment and risk management
  • Real options and risk management
  • Performance evaluation
  • Endogeneity bias in multivariate analysis
  • Public capital resource management 
  • Financial reporting


Selected publications

  • “Analysing the Effectiveness of Public Service Producers with Endogenous Resourcing”, Journal of Productivity Analysis, vol. 44, No. 1, 2015, pp. 115 – 126, Springer.
  • “Effectiveness Analysis of Quality Achievements for University Departments of Economics”, Applied Economics, vol.  46, No. 31, pp. 3788-3797, November 2014, Taylor and Francis.
  • "The Determinants of Cumulative Endogeneity Bias in Mutivariate Analysis",Journal of Multivariate Analysis, vol 100, pp. 1120 - 1136, July 2009, Elsevier.
  • (with Juan Yang) "An Empirical Study on Educational Investment for All Levels of Higher Education in China", Frontiers of Economics in China, vol.4, pp. 46 - 61, March 2009, Springer-Verlag.
  • “Competition and Resource Effectiveness in Education”, The Manchester School vol. 75, No. 1, 2007, pp. 47 – 64.
  • "Educational Value Added and Programme Evaluation", DfES Research Report 847, Department for Education and Skills, London, 2006, 140pp.
  • “Structural Determinants of Cumulative Endogeneity Bias”, University of York Discussion Papers in Economics , No. 2005-11, 2005, 28 pp.
  • “The Private Finance Initiative in the National Health Service – An Unhealthy Development in New Public Management?” in The Economics of Public Private Partnerships, D. Grimley and M.K. Lewis (eds), International Library of Critical Writings in Economics: Series Editor: Mark Blaug, Edward Elgar, 2004.
  • “Measuring and Managing Educational Performance”, Journal of the Operational Research Society, vol. 54, 2003, pp. 679 – 691.



  • Finance & Investment
  • Health Care Management
  • Project Management

David Mayston

David Mayston
Department of Economics
Room: A/EC/121

Tel: 01904 323761 

Office & feedback hours during term time - Tuesday 14.30-15.30, and at other times by appointment via