Caltech professor Colin Camerer was named Tuesday as a MacArthur Fellow, honored for pioneering new insights into economic behavior, and will receive $625,000 over the next five years.
The 53-year-old Camerer is the Robert Kirby Professor of Behavioral Economics. He was an early architect of behavioral game theory, which relies on experimental science to model human decision making in strategic and competitive situations such as bargaining, bluffing and signaling.
Camerer's recent work combines behavioral modeling with new technologies to analyze brain activity during economic interactions that require individuals to make guesses about how other individuals will behave.
A second man with Caltech ties was also part of the 24-member 2013 class of MacArthur Fellows, Stanford paleobotanist C. Kevin Boyce, who received a bachelor's degree from Caltech in 1995.
The members of this class of MacArthur Fellows are exceptionally creative individuals with a track record of achievement and the potential for even more significant contributions in the future, according to Cecilia Conrad, the vice president of the MacArthur Fellows Program.
There are no stipulations or reporting requirements for the stipend, providing maximum freedom for recipients to follow their own creative vision, Conrad said.
- City News Service