Courses a.y. 2023/2024

Biographical note

I am currently an Assistant Professor in the Department of Management and Technology at Bocconi University

My research primarily focuses on understanding the behavioral mechanisms underlying market entry and dynamics. In one line of inquiry, I investigate how temporal preferences and attitudes toward ambiguity affect (entrepreneurial) entry and financiers’ decisions to invest in startups. In a related research stream, I examine the impact of incentive systems and organizational practices on job applicants’ decision-making and employee productivity.

To analyze these phenomena, I utilize a behavioral perspective, with a particular emphasis on the role of uncertainty, time, and social preferences. Empirically, my work primarily employs methodologies and models drawn from experimental economics and decision sciences.

My research has been published in Management Science, Organization Science, the Strategic Management Journal, the Journal of Risk and Uncertainty and Strategic Organization. It has been recognized by the 2016 Best Empirical Paper Award of the Entrepreneurship Division at the Academy of Management and the 2018 Best Dissertation Award (2nd place) at INFORMS Technology, Innovation Management and Entrepreneurship.

I also serve on the editorial review board of Strategic Management JournalOrganization Science, and Strategy Science.


In a recent paper published at the Strategic Management Journal, we show that former leaders in a competition (e.g., sales contests, innovation challenges) try harder: those that are displaced from a prize-eligible position exert more effort in subsequent rounds, compared with identically placed rivals who have never led. Our results, which suggest that setbacks can be motivational, have implications for the optimal design of dynamic competitions.

Research interests

Entrepreneurial/Managerial decision-making; Behavioral strategy; Market entry; Incentives;  Competitiveness; Overconfidence; Temporal preferences; Decision under uncertainty; Experimental methods.

Working papers

Cedric Gutierrez Moreno and Emmanuel Kemel
Measuring natural source dependence

Cedric Gutierrez Moreno and Chen Li
Why do people choose gender congruent careers: an ambiguous story?

Selected Publications

Unpacking overconfident behavior when betting on oneself.
Management Science (forthcoming)

Time is not money! Temporal preferences for time investments and entry into entrepreneurship.
Organization Science (forthcoming)

Gutierrez Moreno, Cédric; Obloj, Tomasz; Frank, Douglas
Better to have led and lost than never to have led at all? Lost leadership and effort provision in dynamic tournaments

Gutierrez Moreno, Cedric; Åstebro, Thomas; Obloj, Tomasz
The impact of overconfidence and ambiguity attitude on market entry

Di Stefano, Giada; Gutierrez Moreno, Cédric
Under a magnifying glass: on the use of experiments in strategy research