Professor Strzalecki has been named the winner of the 2014 Exeter Prize for Research in Experimental Economics, Decision Theory and Behavioral Economics.
He was awarded the prize for his paper “Temporal Resolution of Uncertainty and Recursive Models of Ambiguity Aversion” published in Econometrica in 2013, and in December 2014, he visited the University of Exeter where he received the award.
Of his paper, the selection panel of Glenn Harrison (Georgia State University), Itzhak Gilboa (Tel Aviv University), and Shmuel Zamir (Hebrew University and the University of Exeter) said:
This paper elegantly brings together several important strands of behavioral literature that have each found important applications in finance and macroeconomics. Strzalecki shows that how we model ambiguity aversion has profound implications on economic agents’ preferences over the timing of the resolution of uncertainty. It is a paper that can convince other economists to use one model as opposed to another; few decision-theoretic papers are relevant in this way.
Tomasz Strzalecki is John L. Loeb Associate Professor of the Social Sciences. His research interests are in economic theory, decision theory, and behavioral economics, focusing on ambiguity aversion, temporal preferences, and bounded rationality.