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Mark J. Machina Distinguished
Professor of Economics, Emeritus University of California, San
Diego La
Jolla, CA 92093 |
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RESEARCH
Surveys,
Discussions and Encyclopedia Articles
“Decision
Making in the Presence of Risk”
Science (May 1, 1987) (reprinted in...)
“Choice under
Uncertainty: Problems Solved and Unsolved” Journal
of Economic Perspectives (Summer 1987) (reprinted in...)
“Information
and Decision Making”
(with Robin Hogarth, Kenneth MacCrimmon, John Roberts, Alvin Roth, Paul Slovic
& Richard Thaler) Report of the
Working Group on Information and Decision Making for the National Research
Council’s Ten-Year Outlook on Research Opportunities in the Behavioral and
Social Sciences, 1985 (reprinted
in...)
“States
of the World and the State of Decision Theory”
in The Economics of Risk, ed. by D.
Meyer, 2003
“Choice
under Uncertainty”
in Encyclopedia of Cognitive Science,
ed. by Lynn Nadel, 2005
“Non-Expected
Utility Theory” in Encyclopedia of Actuarial Science, ed.
by J. Teugels and B. Sundt, 2004
“Non-Expected
Utility Theory” in International Encyclopedia of the Social
Sciences, 2nd edition, 2008, ed.
by William Darity, Jr.
“Expected
Utility Hypothesis”
in The New Palgrave Dictionary of
Economics, 2nd edition, 2008, ed. by Steven Durlauf and Lawrence Blume (1st
edition version reprinted in...)
“Non-Expected
Utility Theory” in The New Palgrave Dictionary of Economics,
2nd edition, 2008, ed. by Steven Durlauf and Lawrence Blume
“Risk” (with Michael Rothschild) in The New Palgrave Dictionary of Economics,
2nd edition, 2008, ed. by Steven Durlauf and Lawrence Blume (1st
edition version reprinted in...)
“Ambiguity
and Ambiguity Aversion” (with Marciano Siniscalchi) in Handbook of the Economics of Risk and
Uncertainty, Vol.1, ed. by Mark Machina and W. Kip Viscusi, 2014
Robustness of the Analytics of
the Objective Expected Utility Model
“‘Expected
Utility’ Analysis without the Independence Axiom” Econometrica
(March 1982) (reprinted in...)
“Cardinal
Properties of ‘Local Utility Functions’ ”
in Risk, Decision and Rationality, ed.
by Bertrand Munier, 1988
“Comparative
Statics and Non-Expected Utility Preferences”
Journal of Economic Theory (April
1989)
“Non-Expected
Utility and the Robustness of the Classical Insurance Paradigm” Geneva
Papers on Risk and Insurance Theory (June 1995) (reprinted
in...)
“The
Derivation of Generalized Expected Utility Expansions ” in Risk,
Decision and Rationality, ed. by Bertrand Munier, 1988
Robustness of the Classical Characterization of
Subjective Probability
“A
More Robust Definition of Subjective Probability” (with David Schmeidler) Econometrica (July 1992) (reprinted
in...)
“Bayes
without Bernoulli: Simple Conditions for Probabilistically Sophisticated Choice” (with David Schmeidler) Journal of Economic Theory (October 1995) (reprinted
in...)
Robustness of the Choice-Theoretic Foundations of
Objective Uncertainty
“Almost-Objective
Uncertainty” Economic Theory (July 2004)
Robustness of the Analytics of the
Subjective Expected Utility Model
“ ‘Expected
Utility/Subjective Probability’ Analysis without the Sure-Thing Principle or
Probabilistic Sophistication”
Economic Theory (July 2005)
Rational Choice under
Uncertainty
“Dynamic
Consistency and Non-Expected Utility Models of Choice under Uncertainty” Journal
of Economic Literature (Dec. 1989) (reprinted
in...)
“Bounded
Rationality Modeling”
(with Bertrand Munier, Reinhard Selten, D. Bouyssou, P. Bourgine, R. Day, N.
Harvey, D. Hilton, Ph. Parker, J. Sterman, E. Weber, B. Wernerfelt & R.
Wensley) Marketing Letters (August
1999)
Analysis of
Non-Expected Utility Risk Preferences
“A
Stronger Characterization of Declining Risk Aversion” Econometrica
(July 1982)
“Generalized
Expected Utility Analysis and the Nature of Observed Violations of the
Independence Axiom”
in Foundations of Utility and Risk Theory
with Applications, ed. by B. Stigum and F. Wenstøp, 1983 (reprinted
in...)
“Attitudes
Toward Risk: Further Remarks”
(with Hans Binswanger and Jaime Quizon) Economic
Journal (March 1984)
“Temporal
Risk and the Nature of Induced Preferences”
Journal of Economic Theory (August
1984)
“Stochastic
Choice Functions Generated from Deterministic Preferences over Lotteries” Economic
Journal (September 1985) (reprinted
in...)
“The
Ross Characterization of Risk Aversion: Strengthening and Extension” (with William Neilson) Econometrica (September 1987)
“Payoff
Kinks in Preferences over Lotteries”
Journal of Risk and Uncertainty
(November 2001)
“Risk,
Ambiguity, and the Rank-Dependence Axioms”
American Economic Review (March 2009)
“Event-Separability
in the Ellsberg Urn”
Economic Theory (October 2011)
“Ambiguity
Aversion with Three or More Outcomes”
American Economic Review (December
2014)
Other Topics in Risk
and Risk Aversion
“On
Path Independent Randomized Choice”
(with Robert Parks) Econometrica
(September 1981)
“Rational
Decision Making vs. Rational Decision Modeling?” Journal
of Mathematical Psychology (October 1981) (reprinted
in...)
“Flexibility
and the Demand for Risky Assets”
Economics Letters (Vol. 10, 1982)
“The
Incentive Implications of Incomplete Insurance: The Multiplicative Case” (with Takatoshi Ito)
Economics Letters (Vol. 13, 1983)
“Moment
Preferences and Polynomial Utility”
(with Sigrid Müller) Economics Letters (Vol.
23, 1987)
“Increasing
Risk: Some Direct Constructions”
(with John Pratt) Journal of Risk and
Uncertainty (March 1997)
Econometrics
“Forecasting
and Decision Theory”
(with Clive Granger) in Handbook of
Economic Forecasting, Vol. 1, ed. by Graham Elliott, Clive Granger and
Allan Timmermann, 2006
“Structural
Attribution of Observed Volatility Clustering”
(with Clive Granger) Journal of
Econometrics (November-December 2006)
Economic History
“On
the Profitability of Russian Serfdom”
(with Evsey Domar) Journal of Economic History (December 1984) (reprinted
in...)
RECOGNITION
IN THE LITERATURE
Published
comments on research
Mention
in titles of published articles
NEWS,
GOSSIP AND GAMES
Allais
versus Machina (or: “My Battle Against Cardinal Futility”)
“Two
Errors in the ‘Allais Impossibility Theorem’”
“Unceasingly
Repeated Errors or Contradictions of Mark Machina”
“Paralogisms,
Sophisms, Mistakes and Contradictions of Machina”
Miscellany
Mom's
“random social preferences”
Astonishing
New Proof of a Fundamental Theorem
Clive
& Rob’s Excellent Adventure (account of the 2003 Nobel Prize ceremonies)
Photos
with some of Mark’s Academic Friends, Colleagues and Heroes (not disjoint sets)