Matthew Rabin
Encyclopedia
Matthew Joel Rabin is the Edward G. and Nancy S. Jordan Professor of Economics in the Department of Economics at the University of California, Berkeley
. He was the recipient of the 2001 John Bates Clark Medal
, awarded to "that American economist under the age of forty who is judged to have made the most significant contribution to economic thought and knowledge."
He received a Bachelor of Arts
in Economics
and Mathematics
from University of Wisconsin–Madison
in 1984 and Ph.D.
in Economics
from MIT
in 1989.
His research is directed, among other economic fields, towards behavioral finance
and behavioral economics. Rabin works on the economics of individual self-control problems, reference-dependent preferences, fairness motives and mistakes in probabilistic reasoning. He developed Rabin fairness
as a model to account for fairness in social preferences. In 2001 he was awarded the John Bates Clark Medal
by the American Economic Association
and also the MacArthur "Genius" Fellowship
. In 2006 he was awarded the John von Neumann Award
by the Rajk László College for Advanced Studies.
University of California, Berkeley
The University of California, Berkeley , is a teaching and research university established in 1868 and located in Berkeley, California, USA...
. He was the recipient of the 2001 John Bates Clark Medal
John Bates Clark Medal
The John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge"...
, awarded to "that American economist under the age of forty who is judged to have made the most significant contribution to economic thought and knowledge."
He received a Bachelor of Arts
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
in Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
and Mathematics
Mathematics
Mathematics is the study of quantity, space, structure, and change. Mathematicians seek out patterns and formulate new conjectures. Mathematicians resolve the truth or falsity of conjectures by mathematical proofs, which are arguments sufficient to convince other mathematicians of their validity...
from University of Wisconsin–Madison
University of Wisconsin–Madison
The University of Wisconsin–Madison is a public research university located in Madison, Wisconsin, United States. Founded in 1848, UW–Madison is the flagship campus of the University of Wisconsin System. It became a land-grant institution in 1866...
in 1984 and Ph.D.
Ph.D.
A Ph.D. is a Doctor of Philosophy, an academic degree.Ph.D. may also refer to:* Ph.D. , a 1980s British group*Piled Higher and Deeper, a web comic strip*PhD: Phantasy Degree, a Korean comic series* PhD Docbook renderer, an XML renderer...
in Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
from MIT
Massachusetts Institute of Technology
The Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...
in 1989.
His research is directed, among other economic fields, towards behavioral finance
Behavioral finance
Behavioral economics and its related area of study, behavioral finance, use social, cognitive and emotional factors in understanding the economic decisions of individuals and institutions performing economic functions, including consumers, borrowers and investors, and their effects on market...
and behavioral economics. Rabin works on the economics of individual self-control problems, reference-dependent preferences, fairness motives and mistakes in probabilistic reasoning. He developed Rabin fairness
Rabin fairness
Rabin fairness is a fairness model invented by Matthew Rabin. It goes beyond the standard assumptions in modeling behavior, rationality and self-interest, to incorporate fairness. Rabin's fairness model incorporates findings from the fields of economics and psychology fields to provide an...
as a model to account for fairness in social preferences. In 2001 he was awarded the John Bates Clark Medal
John Bates Clark Medal
The John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge"...
by the American Economic Association
American Economic Association
The American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
and also the MacArthur "Genius" Fellowship
MacArthur Fellows Program
The MacArthur Fellows Program or MacArthur Fellowship is an award given by the John D. and Catherine T...
. In 2006 he was awarded the John von Neumann Award
John von Neumann Award
The John von Neumann Award, named after John von Neumann is given annually by the Rajk László College for Advanced Studies , to an outstanding scholar in the exact social sciences, whose works have had substantial influence over a long period of time on the studies and intellectual activity of the...
by the Rajk László College for Advanced Studies.