KmikeyM covers the Econ Nobel

Rankings / Candidate

Matthew Rabin

Harvard University · Behavioral

Photo: Faizul Latif Chowdhury (talk), Public domain, via Wikimedia Commons

Currently #9, tier Darkhorse, score 18.1, named by 2 sources.Score history: 100.0, 25.0, 18.1

The work. Formal models of psychology in economics: fairness as intentions, the calibration theorem on risk aversion, present-biased procrastination with O'Donoghue, and projection bias.

The case for. He is the theorist who made behavioral economics rigorous enough to model. The calibration theorem is a short argument that still embarrasses expected utility.

The case against. Thaler's 2017 prize covered much of this territory and Rabin was not on it. At 63 he is young by committee standards and can wait.

The KmikeyM angle. Present bias says people know the right long-term move and still defer it. KmikeyM exists because Mike outsourced the willpower problem to people whose money is on the line.

What the sources say

  1. Clarivate alumni (prior years) named Matthew Rabin: named in 2009: for their contributions to behavioral economics, including issues of preferences, fairness, and cooperation (heat 100) Preseason: the Clarivate alumni pool
  2. Kalshi priced Matthew Rabin at 9%: never traded; bid 5, ask 12, midpoint 9 (heat 9) Kalshi has been open since July, and Athey moved on Clarivate day