David M. Kreps

Stanford University


Election Year: 1997
Primary Section: 54, Economic Sciences
Membership Type: Member
Photo Credit: Nancy Rothstein, Stanford Gratuate School of Business

Research Interests

My research broadly concerns on dynamic choice in economic environments and on market and nonmarket institutions in which such choices are made. Thus, I have done work on axiomatic models of choice in dynamic contexts, especially concerning temporal resolution of uncertainty, preference for flexibility, and choice in the presence of unforeseen contingencies; equilibrium in financial markets where assets are long-lived and trading reopens as information is received; the role of beliefs in the equilibria of dynamic games, especially beliefs following an unanticipated or out-of-equilibrium action by another; the role of reputation in economic exchange and interaction; boundedly rational behavior in dynamic contexts; especially concerning adaptive learning in dynamic games; and the employment relationship and its management.

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