Using More Realistic Assumptions
Cab Drivers and Sucker Bets: Using More Realistic Behavioural Assumptions to Strengthen Neoclassical Microeconomics
One of the most common criticisms levied at economic theory is its ubiquitous use of seemingly unrealistic assumptions about human behaviour that contradict what we know about ourselves from psychology. But can the use of psychologically more realistic assumptions improve economic models? CSEP is honoured to host Professor Vincent Crawford to discuss whether new models from behavioural economics improve ability to predict and understand choice, and how people think about that choice, under uncertainty (and certainty), probabilistic judgment, and intertemporal choice.
Professor Vincent Crawford is Drummond Professor of Political Economy, Department of Economics, University of Oxford, and Fellow of All Souls College. He is also Distinguished Professor Emeritus and Research Professor in the Department of Economics, University of California, San Diego.
Professor Crawford is a world-leading scholar in behavioural game theory. In 2011, the Economist's Free Exchange made a prediction that Professor Crawford, along with Professor Colin Camerer, will win the Nobel Prize for their work in this area.
Professor Vincent Crawford is Drummond Professor of Political Economy, Department of Economics, University of Oxford, and Fellow of All Souls College. He is also Distinguished Professor Emeritus and Research Professor in the Department of Economics, University of California, San Diego.
Professor Crawford is a world-leading scholar in behavioural game theory. In 2011, the Economist's Free Exchange made a prediction that Professor Crawford, along with Professor Colin Camerer, will win the Nobel Prize for their work in this area.
