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

  • “Data Envelopment Analysis, Endogeneity and the Quality Frontier for Public Services”, Annals of Operations Research, published online 14 December 2015, forthcoming in Special Issue on Novel Developments in Data Envelopment Analysis, 2016, pp. 19.
  • “Convexity, Quality and Efficiency in Education”, Journal of the Operational Research Society, published online 9 December 2015, forthcoming in Special Edition on Efficiency in Education, 2016, pp. 10.
  • “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 10:00 - 11:00 and 14:00 - 15:00, other times by appointment via