Colin Camerer
Encyclopedia
Colin F. Camerer is an American
behavioral economist
and a Robert Kirby Professor
of Behavioral Finance and Economics at the California Institute of Technology
(Caltech).
A former child prodigy
, Camerer received a B.A.
in quantitative studies from Johns Hopkins University
in 1977 (at age 17), followed by an M.B.A. in finance
from the University of Chicago
in 1979 and a Ph.D.
in behavioral decision theory
from that same institution in 1981 (at age 21). Camerer worked at Kellogg
, Wharton, and the University of Chicago Booth school of business
before moving to Caltech in 1994.
Camerer's research is on the interface between cognitive psychology
and economics
. This work seeks a better understanding of the psychological
and neurobiological 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
in 2003.
called Fever Records as "an economics experiment". Bands that he signed to the label include the Dead Milkmen, Big Black
and Get Smart!
. The label was part of the Enigma Records
group of labels.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
behavioral economist
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 a Robert Kirby Professor
Professor
A professor is a scholarly teacher; the precise meaning of the term varies by country. Literally, professor derives from Latin as a "person who professes" being usually an expert in arts or sciences; a teacher of high rank...
of Behavioral Finance and Economics at the California Institute of Technology
California Institute of Technology
The California Institute of Technology is a private research university located in Pasadena, California, United States. Caltech has six academic divisions with strong emphases on science and engineering...
(Caltech).
A former child prodigy
Child prodigy
A child prodigy is someone who, at an early age, masters one or more skills far beyond his or her level of maturity. One criterion for classifying prodigies is: a prodigy is a child, typically younger than 18 years old, who is performing at the level of a highly trained adult in a very demanding...
, Camerer received a B.A.
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 quantitative studies from Johns Hopkins University
Johns Hopkins University
The Johns Hopkins University, commonly referred to as Johns Hopkins, JHU, or simply Hopkins, is a private research university based in Baltimore, Maryland, United States...
in 1977 (at age 17), followed by an M.B.A. in finance
Finance
"Finance" is often defined simply as the management of money or “funds” management Modern finance, however, is a family of business activity that includes the origination, marketing, and management of cash and money surrogates through a variety of capital accounts, instruments, and markets created...
from the University of Chicago
University of Chicago
The University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
in 1979 and a Ph.D.
Doctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
in behavioral decision theory
Decision theory
Decision theory in economics, psychology, philosophy, mathematics, and statistics is concerned with identifying the values, uncertainties and other issues relevant in a given decision, its rationality, and the resulting optimal decision...
from that same institution in 1981 (at age 21). Camerer worked at Kellogg
Kellogg School of Management
The Kellogg School of Management is the business school of Northwestern University in Evanston, Illinois, downtown Chicago, Illinois and Miami, Florida. Kellogg offers full-time, part-time, and executive programs, as well as partnering programs with schools in China, India, Hong Kong, Israel,...
, Wharton, and the University of Chicago Booth school of business
Booth School of Business
The University of Chicago Booth School of Business is a graduate business school located in Chicago, Illinois, at the University of Chicago. Formerly known as the University of Chicago Graduate School of Business, Chicago Booth is the second oldest business school in the U.S., the first such school...
before moving to Caltech in 1994.
Camerer's research is on the interface between cognitive psychology
Cognitive psychology
Cognitive psychology is a subdiscipline of psychology exploring internal mental processes.It is the study of how people perceive, remember, think, speak, and solve problems.Cognitive psychology differs from previous psychological approaches in two key ways....
and 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"...
. This work seeks a better understanding of the psychological
Psychology
Psychology is the study of the mind and behavior. Its immediate goal is to understand individuals and groups by both establishing general principles and researching specific cases. For many, the ultimate goal of psychology is to benefit society...
and neurobiological 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
-Further reading:* "". Artforum International, 2005.-External links:* * * * *...
in 2003.
Fever Records
In 1983, Camerer started a record labelRecord label
In the music industry, a record label is a brand and a trademark associated with the marketing of music recordings and music videos. Most commonly, a record label is the company that manages such brands and trademarks, coordinates the production, manufacture, distribution, marketing and promotion,...
called Fever Records as "an economics experiment". Bands that he signed to the label include the Dead Milkmen, Big Black
Big Black
Big Black was an American punk rock band from Evanston, Illinois, active from 1981 to 1987. Founded by singer and guitarist Steve Albini, the band's initial lineup also included guitarist Santiago Durango and bassist Jeff Pezzati, both of Naked Raygun...
and Get Smart!
Get Smart! (band)
Get Smart! was a three piece band formed in Lawrence, Kansas in 1980 consisting of Marc Koch, Lisa Wertman Crowe and Frank Loose.-Career:The band formed while at University of Kansas in Lawrence, KS in 1980 and, along with bands like the Embarrassment and the Mortal Micronotz, they were prominent...
. The label was part of the Enigma Records
Enigma Records
Enigma Records was a popular rock and alternative American record label in the 1980s. It was initially a division of Greenworld Distribution, an independent music importer/distributor, which it split-off from in 1985 to become its own company...
group of labels.