David M. Kreps
Encyclopedia
David Marc "Dave" Kreps is a game theorist
and economist
and professor at the Graduate School of Business
at Stanford University
. He is known for his analysis of dynamic choice models and non-cooperative game theory, particularly the idea of sequential equilibrium
, which he developed with Stanford Business School colleague Robert B. Wilson
.
He earned his A.B. from Dartmouth College
in 1972 and his Ph.D. from Stanford in 1975. Kreps won the John Bates Clark Medal
in 1989. He was awarded an honorary Ph.D. by the Université Paris-Dauphine in 2001.
He has also written many books, including Microeconomics for Managers and A Course in Microeconomic Theory.
Game theory
Game theory is a mathematical method for analyzing calculated circumstances, such as in games, where a person’s success is based upon the choices of others...
and economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
and professor at the Graduate School of Business
Stanford Graduate School of Business
The Stanford Graduate School of Business is one of the professional schools of Stanford University, in Stanford, California and is broadly regarded as one of the best business schools in the world.The Stanford GSB offers a general management Master of Business Administration degree, the Sloan...
at Stanford University
Stanford University
The Leland Stanford Junior University, commonly referred to as Stanford University or Stanford, is a private research university on an campus located near Palo Alto, California. It is situated in the northwestern Santa Clara Valley on the San Francisco Peninsula, approximately northwest of San...
. He is known for his analysis of dynamic choice models and non-cooperative game theory, particularly the idea of sequential equilibrium
Sequential equilibrium
Sequential equilibrium is a refinement of Nash Equilibrium for extensive form games due to David M. Kreps and Robert Wilson. A sequential equilibrium specifies not only a strategy for eachof the players but also a belief for each of the players...
, which he developed with Stanford Business School colleague Robert B. Wilson
Robert B. Wilson
Robert Butler "Bob" Wilson, Jr. is an American economist and the Adams Distinguished Professor of Management, Emeritus at Stanford University. He is known for his contributions to management science and business economics. His doctoral thesis introduced sequential quadratic programming, which...
.
He earned his A.B. from Dartmouth College
Dartmouth College
Dartmouth College is a private, Ivy League university in Hanover, New Hampshire, United States. The institution comprises a liberal arts college, Dartmouth Medical School, Thayer School of Engineering, and the Tuck School of Business, as well as 19 graduate programs in the arts and sciences...
in 1972 and his Ph.D. from Stanford in 1975. Kreps won 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"...
in 1989. He was awarded an honorary Ph.D. by the Université Paris-Dauphine in 2001.
He has also written many books, including Microeconomics for Managers and A Course in Microeconomic Theory.