Stephen Morris (game theorist)
Encyclopedia
Stephen Morris is an economic theorist and game theorist
especially known for his research in the field of global games. In 2007 he became the Alexander Stewart
1886 Professor of Economics at Princeton University
. He is the editor of Econometrica
for the period 2007-2011.
in Mathematics
and Economics
at Cambridge University in 1985 and a Ph.D.
in Economics at Yale University
in 1991. He became an Assistant Professor at University of Pennsylvania
in 1991 and an Associate Professor in 1996. In 1998 he moved to Yale as a full professor. In 2005 he became the Irving Fisher
Professor of Economics at Yale. He moved to Princeton University in 2005, where he became the Alexander Stewart 1886 Professor of Economics in 2007.
Morris is the founding editor of the BEPress
Journals of Theoretical Economics and the editor of Econometrica for the period 2007-2011.
Morris is a Fellow of the Econometric Society
since 2002 and was elected a member of the American Academy of Arts and Sciences
in 2005. He obtained the John Simon Guggenheim Fellowship for 2005-2006.
which gained momentum with the article by Morris and Shin (1998). Stephen Morris and Hyun Song Shin
considered a stylized currency crises model, in which traders observe the relevant fundamentals with small noise, and show that this leads to the selection of a unique equilibrium. This result is in stark contrast with models of complete information
, which feature multiple equilibria.
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...
especially known for his research in the field of global games. In 2007 he became the Alexander Stewart
Alexander Stewart
Alexander Stewart may refer to:* Alexander Stewart, 4th High Steward of Scotland , Scottish magnate* Alexander Stewart , Scottish prelate, Bishop of Ross...
1886 Professor of Economics at Princeton University
Princeton University
Princeton University is a private research university located in Princeton, New Jersey, United States. The school is one of the eight universities of the Ivy League, and is one of the nine Colonial Colleges founded before the American Revolution....
. He is the editor of Econometrica
Econometrica
Econometrica is a peer-reviewed academic journal of economics, publishing articles not only in econometrics but in many areas of economics. It is published by the Econometric Society and distributed by Wiley-Blackwell. Econometrica is one of the most highly ranked economics journals in the world...
for the period 2007-2011.
Biography
Morris obtained 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 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...
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"...
at Cambridge University in 1985 and a 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 at Yale University
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
in 1991. He became an Assistant Professor at University of Pennsylvania
University of Pennsylvania
The University of Pennsylvania is a private, Ivy League university located in Philadelphia, Pennsylvania, United States. Penn is the fourth-oldest institution of higher education in the United States,Penn is the fourth-oldest using the founding dates claimed by each institution...
in 1991 and an Associate Professor in 1996. In 1998 he moved to Yale as a full professor. In 2005 he became the Irving Fisher
Irving Fisher
Irving Fisher was an American economist, inventor, and health campaigner, and one of the earliest American neoclassical economists, though his later work on debt deflation often regarded as belonging instead to the Post-Keynesian school.Fisher made important contributions to utility theory and...
Professor of Economics at Yale. He moved to Princeton University in 2005, where he became the Alexander Stewart 1886 Professor of Economics in 2007.
Morris is the founding editor of the BEPress
Berkeley Electronic Press
The Berkeley Electronic Press, also known as Bepress, is an electronic publishing firm which was founded by academics in 1999. It is dedicated to producing products and services to aid scholarly communication, including institutional repositories, subject matter repositories, working paper series,...
Journals of Theoretical Economics and the editor of Econometrica for the period 2007-2011.
Morris is a Fellow of the Econometric Society
Econometric Society
The Econometric Society is an international society for the advancement of economic theory in its relation with statistics and mathematics. It was founded on December 29, 1930 at the Stalton Hotel in Cleveland, Ohio....
since 2002 and was elected a member of the American Academy of Arts and Sciences
American Academy of Arts and Sciences
The American Academy of Arts and Sciences is an independent policy research center that conducts multidisciplinary studies of complex and emerging problems. The Academy’s elected members are leaders in the academic disciplines, the arts, business, and public affairs.James Bowdoin, John Adams, and...
in 2005. He obtained the John Simon Guggenheim Fellowship for 2005-2006.
Research contribution
Global coordination games belong to a subfield of game theoryGame 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...
which gained momentum with the article by Morris and Shin (1998). Stephen Morris and Hyun Song Shin
Hyun Song Shin
Hyun-Song Shin is a South Korean economic theorist and financial economist who did research in the field of global games. In 2006 he became the Hughes-Rogers Professor of Economics at Princeton University...
considered a stylized currency crises model, in which traders observe the relevant fundamentals with small noise, and show that this leads to the selection of a unique equilibrium. This result is in stark contrast with models of complete information
Complete information
Complete information is a term used in economics and game theory to describe an economic situation or game in which knowledge about other market participants or players is available to all participants. Every player knows the payoffs and strategies available to other players.Complete information...
, which feature multiple equilibria.
Sources
- Stephen Morris and Hyun Song Shin (1998), "Unique Equilibrium in a Model of Self-Fulfilling Currency Attacks," American Economic ReviewAmerican Economic ReviewThe American Economic Review is a peer-reviewed academic journal of economics publishing seven issues annually by the American Economic Association. First published in 1911, it is considered one of the most prestigious journals in the field. The current editor-in-chief is Penny Goldberg . The...
, 88 (3): 587–97.