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David Schmeidler, professor emeritus, economics

American Academy of Arts and Sciences

David Schmeidler, professor emeritus, economics, is an Israeli mathematician and economic theorist with important contributions in the theory of individual decision making under uncertainty (decision theory). He currently holds professorships at Ohio State University and Tel Aviv University.

In 2010, Schmeidler was elected member of the American Academy of Arts and Sciences (AAA).

Schmeidler's research interests in recent years have dealt mainly with the informational aspects of decisions under uncertainty. He has developed axiomatic theories of decision making when information is modeled by nonadditive probability, sets of prior probabilities, and by cases. His other research interests have included and include functional analysis, cooperative and non-cooperative games and topics in microeconomics, including general equilibrium, implementation and equity.

Schmeidler has published nearly seventy papers, most of them in leading economics journals, and a few in mathematical journals, and a book.

Schmeidler received his PhD in mathematics from the Hebrew University of Jerusalem. His most influential works include the theories of Choquet expected utility and Maxmin Expected Utility (the latter jointly with Itzhak Gilboa). Both these theories explain individual attitudes towards ambiguity that are consistent with the Ellsberg paradox.

 

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