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From 2018 to 2024, he was professor of decision and neuroeconomic theory at the University of Zurich (endowed by the NOMIS foundation). [3] [4] In 2024, he moved to Lancaster University Management School as Chair in Economics. Alós-Ferrer has worked extensively in game theory, bounded rationality, social choice, and behavioral economics.
He is the author or co-author of many books and over 300 peer-reviewed articles. His most significant works focus on risk management, decision sciences, investment, and policy-making under uncertainty. Zeckhauser introduced the term "ignorance" into decision-making under uncertainty, as in: there's "risk", "uncertainty", and outright "ignorance ...
The result was his two-volume Game Theory and the Social Contract, an ambitious attempt to lay the foundations for a genuine science of morals using the theory of games. In Game Theory and the Social Contract Binmore proposes a naturalistic reinterpretation of John Rawls ' original position that reconciles his egalitarian theory of justice with ...
The mythological judgement of Paris required selecting from three incomparable alternatives (the goddesses shown).. Decision theory or the theory of rational choice is a branch of probability, economics, and analytic philosophy that uses the tools of expected utility and probability to model how individuals would behave rationally under uncertainty.
His book Applied Statistical Decision Theory with Robert Schlaifer introduced the idea of conjugate prior distributions.; A lecture of his in the 1960s concerning the use of Bayesian methods for betting on horses gave John Craven USN, a US Navy scientist the idea of using Bayesian methods to search for a missing US Air Force hydrogen bomb lost near Palomares, Spain in the 1966 Palomares B-52 ...
He is known for his analysis of dynamic choice models and non-cooperative game theory, particularly the idea of sequential equilibrium, which he developed with Stanford Business School colleague Robert B. Wilson. With colleagues Paul Milgrom and Robert B. Wilson, he was awarded the 2018 John J. Carty Award for the Advancement of Science.
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He has also conducted research on political economy, microeconomic theory, economic dynamics, macroeconomics and models of bounded rationality. [2] Rustichini is a fellow of the Econometric Society [3] and a Council Member of the Game Theory Society. [4]