Charles R. Plott
William D. Hacker Professor of Economics and Political Science, Emeritus
Profile
Charles R. Plott is a pioneer in the field of experimental economics and political science. In the 1970s, he developed laboratory experimental methods for economics and political science and produced many of the basic experiments that set the stage for using laboratory methods to test and to better understand economic and political theories. The use of his methods has now exploded, and the laboratory that Plott founded at Caltech, the Laboratory for Experimental Economics and Political Science (EEPS), serves as a model for others around the world. The use of laboratory methods supports the study of theories that would be impossible to sturdy in naturally occurring settings. His research has produced some of the most fundamental discoveries in economics and political science, including principles governing convergence and stability of multiple market systems and voting processes. In addition, he has applied laboratory tools to complex policies related to the environment, transportation, communication, and energy.
Most recently, Plott's research has focused on two areas. The first is the design of information aggregation mechanisms, which are related to the classical notions of rational expectations and are used for gathering useful information that's otherwise scattered among individuals in the form of intuitions and opinions. The second issue is the design and execution of experiments with complex systems that can operate successfully under conditions that often cause
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- L'université Pierre Mendès France diplôme Docteur honoris causa, 1996
- Purdue University Doctor of Letters honoris causa, 1995
- University of Melbourne Doctor of Commerce, honoris causa, 2018
- National Academy of Sciences, 2007
- American Academy of Arts and Sciences, 1985
- American Economic Association, Distinguished Fellow, 2008
- The Society for the Advancement of Economic Theory, Fellow, 2011
- Econometric Society Fellow, 1985
- Honorary Professor of Zhejiang University, 2014
- College of Business Administration Hall of Fame, Oklahoma State University, 1988
- Guggenheim Fellow, 1981-1982
- Fulbright Scholar, 2006
- Center for Advanced Studies in the Behavioral Sciences Fellow, 1981-1982
- Georgescu-Roegen Prize, Southern Economic Association, 1995
- National Science Foundation Principal Investigator, 1972-present
- Ford Foundation Faculty Research Fellow, 1968
- Hooker Distinguished Professor, McMaster University, 1983
- Institute for Policy Reform: Senior Research Fellow, 1992-1993
- Journal of Finance Markets Award, 1994
- Journal of Financial Markets 2003 Best Paper Award
- GSAM Quant Best Paper Prize, Review of Finance, 2004
- Economic Inquiry 2006 Best Article Award
- GAIM Research Paper of the Year 2006 Award
American Economic Association; Royal Economic Society; Econometric Society; American Political Science Association; Centre for Market Design Board, Victoria, Board Member; Public Choice Society, President 1976-1978; Southern Economic Association, Executive Committee 1977-1978, vice president 1985-1987, president 1989- 90; The Mont Pelerin Society; Economic Science Association, president 1987-1988; Western Economic Association International, president 1998/9; Society for the Advancement of Economic Theory, President June 2009-2010.
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Selected Publications
- Pastor-Bernier, Alexandre;Volkmann, Konstantin et al. (2023) Studying neural responses for multi-component economic choices in human and non-human primates using concept-based behavioral choice experimentsSTAR Protocols
- Plott, Charles R.;Cason, Timothy N. et al. (2022) General equilibrium methodology applied to the design, implementation and performance evaluation of large, multi-market and multi-unit policy constrained auctionsEconomic Theory
- Plott, Charles R.;Cason, Timothy N. et al. (2022) General Equilibrium Methodology Applied to the Design, Implementation and Performance Evaluation of Large, Multi-Market and Multi-Unit Policy Constrained Auctions
- Gillen, Benjamin J.;Hirota, Masayoshi et al. (2021) Divergence and convergence in Scarf cycle environments: experiments and predictability in the dynamics of general equilibrium systemsEconomic Theory
- Plott, Charles R.;Stoneham, Gary et al. (2021) Using Theory, Markets and Experimental Methods to Improve a Complex Administrative Decision Process: School Transportation for Disadvantaged Students
- Butkovich, Lazarina;Butkovich, Nina et al. (2020) Fake News, Information Herds, Cascades, and Economic KnowledgePublic Finance Review
- Oliveira, Angela C. M.;Salmon, Timothy C. et al. (2020) Introduction to the Symposium on Research on Social DilemmasEconomic Inquiry
- Plott, Charles;Roll, Richard et al. (2019) Tick size, price grids and market performance: Stable matches as a model of market dynamics and equilibriumGames and Economic Behavior
- Butkovich, Lazarina;Butkovich, Nina et al. (2018) Fake News, Information Herds, Cascades, and Economic Knowledge
- Butkovich, Lazarina;Butkovich, Nina et al. (2018) Fake News, Information Herds, Cascades and Economic Knowledge