b. 1953
Thomas Palfrey is an American economist and political scientist known for his contributions to game theory, experimental economics, and political economy. He is the Flintridge Foundation Professor of Economics and Political Science at the California Institute of Technology, and has made influential contributions to the theory of quantal response equilibrium and the analysis of strategic behavior in extensive-form games.
Co-developed Quantal Response Equilibrium (QRE) with Richard McKelvey
Pioneered experimental tests of game-theoretic solution concepts
Contributed foundational work on backward induction and its limitations in extensive-form games
Advanced the field of political economy through formal modeling of voting and collective choice
Served as editor of major journals in economics and political science