b. 1934
Kenneth R. MacCrimmon is a contemporary decision theorist known for experimental and theoretical work on rational choice, risk preferences, and game theory. His research has examined how real agents deviate from normative decision-theoretic prescriptions and has contributed to critiques of classical solution concepts in extensive-form games.
Conducted influential experimental studies testing the axioms of expected utility theory
Contributed critiques of backward induction as a solution concept in extensive-form games
Advanced empirical research on risk attitudes and managerial decision-making
Co-authored foundational work on descriptive versus normative models of rational choice