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Mark
J. Machina Department
of Economics University
of California, San Diego La
Jolla, CA 92093-0508 (858)
534-2391 mmachina@ucsd.edu
curriculum vitae
ECON 100AH
ECON 200A ECON 87 |
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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 Ten-Year 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
“Non-Expected Utility Theory”
in Encyclopedia of Actuarial Science,
ed. by J. Teugels and B. Sundt, 2004
“Non-Expected 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...)
“Non-Expected 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...)
“Ambiguity and Ambiguity
Aversion” (with Marciano
Siniscalchi) in Handbook of the Economics
of Risk and Uncertainty, Vol.1, ed. by Mark J. Machina and W. Kip Viscusi,
2014
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 Non-Expected Utility
Preferences” Journal of Economic Theory (April 1989)
“Non-Expected 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 Choice-Theoretic Foundations of Objective
Uncertainty:
“Almost-Objective Uncertainty”
Economic Theory (July 2004)
· Robustifying the Analytics of the Subjective Expected Utility
Model:
“ ‘Expected Utility/Subjective
Probability’ Analysis without the Sure-Thing Principle or Probabilistic
Sophistication”
Economic Theory (July 2005)
Rational
Choice under Uncertainty
“Dynamic Consistency and Non-Expected 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 Non-Expected 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 Rank-Dependence
Axioms” American Economic Review (March 2009)
“Event-Separability 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 (November-December
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