Two Bocconi Articles in the Top 50 for Fifty Years of JETPIERPAOLO BATTIGALLI, FABIO MACCHERONI AND MASSIMO MARINACCI ARE AMONG THE AUTHORS FEATURED IN THE SPECIAL ISSUE OF JOURNAL OF ECONOMIC THEORY MARKING ITS 50TH ANNIVERSARY
A prestigious acknowledgement to the role of the Bocconi faculty in developing economic science comes from the Journal of Economic Theory (JET). A special issue celebrating the 50th anniversary of the scholarly journal displays the 50 most important articles published throughout its history, according to the judgement of the JET founder and long-time editor Karl Shell and two guest editors (Alessandro Pavan and Tilman Boergers), and includes two papers authored by professors of Bocconi’s Department of Decision Sciences.
The Journal of Economic Theory is a top publication in the field of microeconomic theory. The selection took into account the number of citations but was also based on more general considerations about the impact on economics.
Fabio Maccheroni and Massimo Marinacci, along with co-author Paolo Ghirardato, published Differentiating Ambiguity and Ambiguity Attitude in 2004. The article shows how ambiguity, and a decision maker's response to it, can be modelled formally in the context of a general decision model. It is one of the most cited articles in the literature on aversion to uncertainty and is a contribution to the theoretical foundation of behavioral economics and finance.
Pierpaolo Battigalli published Dynamic Psychological Games in 2009. His co-author, Martin Dufwenberg, also became part of the Bocconi faculty a few years later. The article revives and generalizes the theory of psychological games, introduced 20 years earlier. Building on Professor Battigalli’s work, this article enables the modeling of psychological motivations in games with sequential moves and evolving player beliefs.
Prof. Battigalli will also assume the role of Co-Editor of the Journal of Economic Theory from 1 January, 2021.
by Fabio Todesco