John Duffy (born January 2, 1964) is an American

economist An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this ...

. He is a

professor Professor (commonly abbreviated as Prof.) is an Academy, academic rank at university, universities and other post-secondary education and research institutions in most countries. Literally, ''professor'' derives from Latin as a "person who pr ...

of economics at the

University of California, Irvine The University of California, Irvine (UCI or UC Irvine) is a public land-grant research university in Irvine, California. One of the ten campuses of the University of California system, UCI offers 87 undergraduate degrees and 129 graduate and pr ...

Education and career

Duffy earned an AB in economics from the

University of California, Berkeley The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California) is a public land-grant research university in Berkeley, California. Established in 1868 as the University of California, it is the state's first land-grant u ...

and a PhD in economics from the

University of California, Los Angeles The University of California, Los Angeles (UCLA) is a public land-grant research university in Los Angeles, California. UCLA's academic roots were established in 1881 as a teachers college then known as the southern branch of the California St ...

. He is a

of economics at the

. He was previously a

of economics at the

University of Pittsburgh The University of Pittsburgh (Pitt) is a public state-related research university in Pittsburgh, Pennsylvania. The university is composed of 17 undergraduate and graduate schools and colleges at its urban Pittsburgh campus, home to the universit ...

. Duffy's research interests are behavioral economics,

experimental economics Experimental economics is the application of experimental methods to study economic questions. Data collected in experiments are used to estimate effect size, test the validity of economic theories, and illuminate market mechanisms. Economic expe ...

game theory Game theory is the study of mathematical models of strategic interactions among rational agents. Myerson, Roger B. (1991). ''Game Theory: Analysis of Conflict,'' Harvard University Press, p.&nbs1 Chapter-preview links, ppvii–xi It has appli ...

and macroeconomics. His work has been published in ''

The American Economic Review The ''American Economic Review'' is a monthly peer-reviewed academic journal published by the American Economic Association. First published in 1911, it is considered one of the most prestigious and highly distinguished journals in the field of eco ...

'' and ''

The Review of Economic Studies ''The Review of Economic Studies'' (also known as ''REStud'') is a quarterly peer-reviewed academic journal covering economics. It was established in 1933 by a group of economists based in Britain and the United States. The original editorial tea ...

'', among other venues. Duffy is known for promoting the use of experimental methods to evaluate

macroeconomic Macroeconomics (from the Greek prefix ''makro-'' meaning "large" + ''economics'') is a branch of economics dealing with performance, structure, behavior, and decision-making of an economy as a whole. For example, using interest rates, taxes, and ...

models and assumptions and to address questions of

equilibrium selection Equilibrium selection is a concept from game theory which seeks to address reasons for players of a game to select a certain equilibrium over another. The concept is especially relevant in evolutionary game theory, where the different methods of eq ...

. He advocates for the use of experimental methods to empirically validate

agent-based model An agent-based model (ABM) is a computational model for simulating the actions and interactions of autonomous agents (both individual or collective entities such as organizations or groups) in order to understand the behavior of a system and wha ...

s and heterogeneous agent models.

Selected works

* Duffy, John and Frank Heinemann. “Central Bank Reputation, Cheap Talk and Transparency as Substitutes for Commitment: Experimental Evidence” Journal of Monetary Economics in press (2021). * Duffy, John, Sean Crockett and Yehuda Izhakian. "An Experimental Test of the Lucas Asset Pricing Model," Review of Economic Studies 86 (2019), 627–667. * Duffy, John and Daniela Puzzello, "Gift Exchange versus Monetary Exchange: Theory and Evidence," American Economic Review 104 (2014), 1735–1776. * Duffy, John and Eric O’N. Fisher, "Sunspots in the Laboratory," American Economic Review 95 (2005), 510–529. * Duffy, John and Jack Ochs, "Emergence of Money as a Medium of Exchange: An Experimental Study," American Economic Review 89 (1999), 847–877.

References

External links

* * University of California, Irvine faculty Economists from California Living people 1964 births People from Bakersfield, California UC Berkeley College of Letters and Science alumni University of California, Los Angeles alumni 21st-century American economists {{US-economist-stub