
Mark
J. Machina Department
of Economics University
of California, San Diego La
Jolla, CA 920930508 (858)
5342391 mmachina@ucsd.edu curriculum
vitae
ECON 100AH
ECON 200A
ECON 87 

Surveys, Discussions and Encyclopedia
Articles
“Decision
Making in the Presence of Risk”
Science (May 1, 1987) (reprinted in...)
“Choice
under Uncertainty: Problems Solved and Unsolved” Journal
of Economic Perspectives (Summer 1987) (reprinted in...)
“Information
and Decision Making”
(with Robin Hogarth, Kenneth MacCrimmon, John Roberts, Alvin Roth, Paul Slovic
& Richard Thaler) Report of the Working Group on Information and Decision Making for the
National Research Council’s TenYear Outlook on Research Opportunities in
the Behavioral and Social Sciences, 1985 (reprinted in...)
“States
of the World and the State of Decision Theory”
in The Economics of Risk, ed. by D.
Meyer, 2003
“Choice
under Uncertainty”
in Encyclopedia of Cognitive Science,
ed. by Lynn Nadel, 2005
“NonExpected
Utility Theory”
in Encyclopedia of Actuarial Science,
ed. by J. Teugels and B. Sundt, 2004
“NonExpected
Utility Theory”
in International Encyclopedia of the
Social Sciences, 2nd edition, 2008, ed.
by William Darity, Jr.
“Expected
Utility Hypothesis”
in The New Palgrave Dictionary of
Economics, 2nd edition, 2008, ed. by Steven N. Durlauf and Lawrence E.
Blume (1st edition version reprinted in...)
“NonExpected
Utility Theory”
in The New Palgrave Dictionary of
Economics, 2nd edition, 2008, ed. by Steven N. Durlauf and Lawrence E.
Blume
“Risk” (with Michael Rothschild) in The New Palgrave Dictionary of Economics,
2nd edition, 2008, ed. by Steven N. Durlauf and Lawrence E. Blume (1st edition version reprinted in...)
Robustifying
the Classical Theory of Risk Preferences and Beliefs (my primary research
agenda)
· Robustifying the Analytics of the Objective Expected Utility
Model:
“ ‘Expected
Utility’ Analysis without the Independence Axiom” Econometrica
(March 1982) (reprinted in...)
“Comparative
Statics and NonExpected Utility Preferences”
Journal of Economic Theory (April
1989)
“NonExpected
Utility and the Robustness of the Classical Insurance Paradigm” Geneva
Papers on Risk and Insurance Theory (June 1995) (reprinted in...)
· Robustifying the Classical Characterization of Subjective
Probability:
“A
More Robust Definition of Subjective Probability” (with David Schmeidler) Econometrica (July 1992)
(reprinted in...)
“Bayes
without Bernoulli: Simple Conditions for Probabilistically Sophisticated Choice” (with David Schmeidler) Journal of Economic Theory (October
1995) (reprinted in...)
· Robustifying the ChoiceTheoretic Foundations of Objective
Uncertainty:
“AlmostObjective
Uncertainty”
Economic Theory (July 2004)
· Robustifying the Analytics of the Subjective Expected Utility
Model:
“ ‘Expected
Utility/Subjective Probability’ Analysis without the SureThing Principle
or Probabilistic Sophistication”
Economic Theory (July 2005)
Rational
Choice under Uncertainty
“Dynamic
Consistency and NonExpected Utility Models of Choice under Uncertainty” Journal
of Economic Literature (December 1989) (reprinted in...)
“Bounded
Rationality Modeling”
(with Bertrand Munier, Reinhard Selten,
D. Bouyssou, P. Bourgine,
R. Day, N. Harvey, D. Hilton, Ph. Parker, J. Sterman,
E. Weber, B. Wernerfelt & R. Wensley)
Marketing Letters (August 1999)
Analysis
of NonExpected Utility Risk Preferences
“A
Stronger Characterization of Declining Risk Aversion” Econometrica
(July 1982)
“Generalized
Expected Utility Analysis and the Nature of Observed Violations of the
Independence Axiom”
in Foundations of Utility and Risk Theory
with Applications, ed. by B. Stigum and F. Wenstøp, 1983 (reprinted in...)
“Attitudes
Toward Risk: Further Remarks”
(with Hans Binswanger and Jaime Quizon) Economic Journal (March 1984)
“Temporal
Risk and the Nature of Induced Preferences”
Journal of Economic Theory (August
1984)
“Stochastic
Choice Functions Generated from Deterministic Preferences over Lotteries” Economic
Journal (September 1985) (reprinted in...)
“The
Ross Characterization of Risk Aversion: Strengthening and Extension” (with William Neilson) Econometrica (September 1987)
“Cardinal
Properties of ‘Local Utility Functions’ ” in Risk, Decision and Rationality, ed. by Bertrand Munier, 1988
“Two
Errors in the ‘Allais Impossibility Theorem’” Theory
and Decision (May 1995)
(“The
Two Errors: A Summary”)
“Payoff
Kinks in Preferences over Lotteries”
Journal of Risk and Uncertainty
(November 2001)
“Risk,
Ambiguity, and the RankDependence Axioms”
American Economic Review (March 2009)
“EventSeparability
in the Ellsberg Urn”
Economic Theory (October 2011)
“Ambiguity
Aversion with Three or More Outcomes”
American Economic Review (December
2014)
Other
Topics in Risk and Risk Aversion
“On
Path Independent Randomized Choice”
(with Robert Parks) Econometrica
(September 1981)
“Rational
Decision Making vs. Rational Decision Modeling?” Journal
of Mathematical Psychology (October 1981) (reprinted in...)
“Flexibility
and the Demand for Risky Assets”
Economics Letters (Vol. 10, 1982)
“The
Incentive Implications of Incomplete Insurance: The Multiplicative Case” (with Takatoshi Ito) Economics Letters (Vol. 13, 1983)
“Moment
Preferences and Polynomial Utility”
(with Sigrid Müller) Economics
Letters (Vol. 23, 1987)
“Increasing
Risk: Some Direct Constructions”
(with John Pratt) Journal of Risk and
Uncertainty (March 1997)
Econometrics
“Forecasting
and Decision Theory”
(with Clive Granger) in Handbook of
Economic Forecasting, Vol. 1, ed. by Graham Elliott, Clive Granger and
Allan Timmermann, 2006
“Structural
Attribution of Observed Volatility Clustering”
(with Clive Granger) Journal of
Econometrics (NovemberDecember 2006)
Economic
History
“On
the Profitability of Russian Serfdom”
(with Evsey Domar) Journal of Economic History (December
1984) (reprinted in...)
News,
Gossip & Games
“Clive
& Rob’s Excellent Adventure”
(An account of the 2003 Nobel Prize Ceremonies)
“Barrett
and Arntzenius’s Infinite Decision Puzzle” Theory
and Decision (November 2000)
“Machina's
Unceasingly Repeated Errors or Contradictions” (as
dispassionately reported by Maurice Allais)
Machina’s
“Paralogisms, Sophism, Mistakes and
Contractions”
“then
Allais would turn on Machina”
Photos
with some of his Heroes, Friends and Colleagues