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Monday, December 13, 2021
6:00 p.m. – 7:30 p.m.
School of International and Public Affairs
420 West 118th Street
New York, NY 10027

CUID holders: Register here

Please note that in-person attendance is open to CUID holders only.

For the general public, this event will be livestreamed on the Center on Global Economic Governance website.

 

The 13th Annual Kenneth J. Arrow Lecture

The 13th Annual Kenneth J. Arrow Lecture features David M. Kreps, Professor Emeritus, Economics and The Adams Distinguished Professor of Management, Emeritus, at Stanford University. Professor Kreps will present “Not Every Couple Should Have a Prenup: How the Context and History of Exchange Affects Personal Preferences, and Why This Matters Both to Economic Theory and to Practical Human Resource Management.”

José Scheinkman, Charles and Lynn Zhang Professor of Economics, Columbia University, will give introductory remarks. Discussants will include Alessandra Casella (Chair), Professor of Economics and Political Science, Columbia University; Suresh NaiduProfessor of Economics and International and Public Affairs, Columbia University; and Joseph E. Stiglitz, 2001 Nobel Laureate in Economic Sciences and University Professor, Columbia University.

Gary Becker once wrote that economic reasoning implied that “Every couple should have a contract.” In this lecture, David M. Kreps will offer a counter-argument, suggesting that: (1) in social exchange, both the context and the history of the exchange changes personal preferences in systematic ways; (2) these effects are of significance in particular in human resource management; and (3) they present challenges to the economic concept of efficiency that economists must confront.

About the Lecturer
David Kreps is an economic theorist of international reputation whose path-breaking work concerns dynamic choice behavior and economic contexts in which dynamic choices are key. He has contributed to the literatures of axiomatic choice theory, financial markets, dynamic games, bounded rationality, and human resource management.

David Kreps joined the faculty of the Graduate School of Business in 1975, after completing a PhD in Operations Research in the Stanford School of Engineering. He has been a full professor since 1980, and today is the Adams Distinguished Professor of Management, Emeritus. Professor Kreps has been recognized for his research as a Fellow of the Econometric Society, a Fellow of the American Academy of Arts and Sciences, a member of the National Academy of Sciences, a Guggenheim Foundation Fellowship, and with an honorary doctorate from Universite Paris IX. In 1989, he was awarded the John Bates Clark Medal by the American Economic Association. In 2007, he received the CME Group/MSRI Prize in Innovative Quantitative Applications. In 2010 he was elected a Distinguished Fellow of the American Economic Association. In 2018 he, together with his colleagues Paul Milgrom and Robert Wilson, was awarded the Carty Prize for the Advancement of Science by the National Academy of Sciences and was named the Erwin Plein Nemmers Prizewinner by Northwestern University.

About the Kenneth J. Arrow Lecture Series
Kenneth J. Arrow’s work has so deeply shaped the course of economics for the past sixty years that, in a sense, every modern economist is his student. His ideas, style of research, and breadth of vision have been a model for generations of the boldest, most creative, and most innovative economists. His work has yielded such seminal theorems as general equilibrium, social choice, and endogenous growth, proving that simple ideas have profound effects. The Kenneth J. Arrow Lecture Series highlights economists, from Nobel laureates to groundbreaking younger scholars, whose work builds on Arrow’s scholarship as well as his innovative spirit. The books in the series are an expansion of the lectures that are held in Arrow’s honor at Columbia University.


Co-sponsored by: Columbia SIPA’s Center on Global Economic GovernanceColumbia Economics Program for Economic Research, and Columbia University Press.
Please note: In-person attendance is open to current students, faculty, and staff from Columbia University. Online registration is required and seating is limited on a first-come, first-served basis.

For the general public, this event will be livestreamed on the the Center on Global Economic Governance website.

1022 International Affairs Building (IAB)
Mail Code 3308  
420 West 118th Street
New York, NY 10027
Ph: (212) 854-3680
Fax: (212) 854-0749
Business Hours:
Mon–Fri, 9:00 a.m.–5:00 p.m.

1022 International Affairs Building (IAB)

Mail Code 3308

420 West 118th Street

New York, NY 10027

Ph: (212) 854-3680
Fax: (212) 854-0749
Business Hours:
Mon–Fri, 9:00 a.m.–5:00 p.m.
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