Latest COVID-19 updates

You are here

› David Kreps: Choice, Dynamic Choice, and Behavioral Economics

David Kreps: Choice, Dynamic Choice, and Behavioral Economics
Economics
Written

David Kreps: Choice, Dynamic Choice, and Behavioral Economics

An economist explains why “rational choice” is sometimes irrational.
March 27, 2015|by Stanford Graduate School of Business

Economist David Kreps argues that traditional economic models of “rational decision making” fail to capture the complexity of how real people make important choices.

David Kreps video

Economics
http://stanford.io/1GxjZfg
For media inquiries, visit the Newsroom.
Explore More

Insights

Bob Wilson (left) and Paul Milgrom in the early morning hours shortly after finding out they won the Nobel Prize.
November 25, 2020
Written

The Bid Picture: Stanford Economists Explain the Ideas Behind Their Nobel Prize

Robert Wilson and Paul Milgrom show how auctions, if designed correctly, can help distribute resources more fairly.
Economics

Insights

A woman holds an American flag after her daughter’s naturalization ceremony in San Antonio, Texas. Reuters/Callaghan O’Hare
September 15, 2020
Written

The Economics of Prioritizing Family Ties in U.S. Immigration Policy

Migrants from overrepresented countries arrive with less education and fewer skills.
Economics

Insights

People line up at a safe social distance outside the grocery store amid the coronavirus disease (COVID-19) outbreak. Credit: Reuters/Brian Snyder
September 1, 2020
Written

Mapping the Good and the Bad of Pandemic-Related Restrictions

A new computer model developed by Stanford researchers could help policymakers choose the right reopening strategy.
Economics