Colin Farrell Camerer (born December 4, 1959) is an American

behavioral economist Behavioral economics studies the effects of Psychology, psychological, cognitive bias, cognitive, emotional, cultural and social factors on the decision making, decisions of individuals or institutions, such as how those decisions vary from t ...

, and Robert Kirby Professor of Behavioral Finance and Economics at the

California Institute of Technology The California Institute of Technology (branded as Caltech or CIT)The university itself only spells its short form as "Caltech"; the institution considers other spellings such a"Cal Tech" and "CalTech" incorrect. The institute is also occasional ...

(Caltech).

Background

A former child prodigy, Camerer received a

B.A. Bachelor of arts (BA or AB; from the Latin ', ', or ') is a bachelor's degree awarded for an undergraduate program in the arts, or, in some cases, other disciplines. A Bachelor of Arts degree course is generally completed in three or four yea ...

in quantitative studies from

Johns Hopkins University Johns Hopkins University (Johns Hopkins, Hopkins, or JHU) is a private research university in Baltimore, Maryland. Founded in 1876, Johns Hopkins is the oldest research university in the United States and in the western hemisphere. It consi ...

in 1977 (at age 17), followed by an

M.B.A. A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as account ...

in finance from the

University of Chicago The University of Chicago (UChicago, Chicago, U of C, or UChi) is a private university, private research university in Chicago, Illinois. Its main campus is located in Chicago's Hyde Park, Chicago, Hyde Park neighborhood. The University of Chic ...

in 1979 and a

Ph.D. A Doctor of Philosophy (PhD, Ph.D., or DPhil; Latin: or ') is the most common degree at the highest academic level awarded following a course of study. PhDs are awarded for programs across the whole breadth of academic fields. Because it is ...

in behavioral

decision theory Decision theory (or the theory of choice; not to be confused with choice theory) is a branch of applied probability theory concerned with the theory of making decisions based on assigning probabilities to various factors and assigning numerical ...

from that same institution in 1981 (at age 21) for thesis titled ''The Validity and Utility of Expert Judgment'' under the supervision of Hillel Einhorn and Robin Hogarth. Camerer worked at Kellogg, Wharton, and the University of Chicago

Booth School of Business The University of Chicago Booth School of Business (Chicago Booth or Booth) is the graduate business school of the University of Chicago. Founded in 1898, Chicago Booth is the second-oldest business school in the U.S. and is associated with 10 N ...

before moving to Caltech in 1994. Camerer's research is on the interface between cognitive psychology and

economics Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes ...

. This work seeks a better understanding of the psychological and

neurobiological Neuroscience is the scientific study of the nervous system (the brain, spinal cord, and peripheral nervous system), its functions and disorders. It is a multidisciplinary science that combines physiology, anatomy, molecular biology, developme ...

basis of decision-making in order to determine the validity of models of human economic behavior. His research uses mostly economics experiments—and occasionally field studies—to understand how people behave when making decisions (e.g., risky gambles for money), in games, and in markets (e.g., speculative price bubbles). He spoke at the Econometric Society World Congress in London on August 20, 2005 and at the Nobel Centennial Symposium in 2001 on Behavioral and Experimental Economics. He is the author of "Behavioral Game Theory" published by

Princeton University Press Princeton University Press is an independent publisher with close connections to Princeton University. Its mission is to disseminate scholarship within academia and society at large. The press was founded by Whitney Darrow, with the financia ...

in 2003. During the late 1990s and until mid-2008, Camerer began instructing college courses in fields such as Cognitive Psychology, Microeconomic Theory, Behavioral Economics, and Organizational Design. These courses were held at a variety of different universities, including the aforementioned California Institute of Technology and additionally

New York University New York University (NYU) is a private research university in New York City. Chartered in 1831 by the New York State Legislature, NYU was founded by a group of New Yorkers led by then- Secretary of the Treasury Albert Gallatin. In 1832, th ...

. In September 2013, Camerer was named a

MacArthur fellow The MacArthur Fellows Program, also known as the MacArthur Fellowship and commonly but unofficially known as the "Genius Grant", is a prize awarded annually by the John D. and Catherine T. MacArthur Foundation typically to between 20 and 30 indi ...

Fever Records

In 1983, Camerer started a

record label A record label, or record company, is a brand or trademark of music recordings and music videos, or the company that owns it. Sometimes, a record label is also a publishing company that manages such brands and trademarks, coordinates the produ ...

called "Fever Records" as "an economics experiment". Bands that he signed to the label include

the Dead Milkmen The Dead Milkmen is an American punk rock band formed in 1983 in Philadelphia. Their original lineup consisted of vocalist and keyboardist Rodney Linderman ("Rodney Anonymous"), guitarist and vocalist Joe Genaro ("Joe Jack Talcum"), bassist Da ...

, Big Black and Get Smart!. The label was part of the

Enigma Records Enigma Records (also known as Enigma Entertainment Corporation) was a popular rock and alternative American record label in the 1980s. History Enigma Records launched as a division of Greenworld Distribution, an independent music importer/d ...

group of labels. Another

Fever Records Fever Records was a New York City record label of the 1980s, founded by promoter Sal Abbatiello. The label was marketed and distributed by Sutra Records until the latter went under, which precipitated a distribution deal with Russell Simmons's R ...

was founded in the 1980s in New York City to distribute rap records, and has no connection.

Selected bibliography

* *

References

External links

Personal webpage at Caltech

"Mind Reading: The New Science of Decision Making", from ''Newsweek''

Colin Camerer's CV
{{DEFAULTSORT:Camerer, Colin 1959 births Living people 21st-century American economists Behavioral economists Game theorists Johns Hopkins University alumni University of Chicago Booth School of Business alumni California Institute of Technology faculty MacArthur Fellows Fellows of the Econometric Society Fellows of the American Academy of Arts and Sciences Nancy L. Schwartz Memorial Lecture speakers