{"id":2,"date":"2021-01-15T09:12:21","date_gmt":"2021-01-15T09:12:21","guid":{"rendered":"https:\/\/blog.iese.edu\/mueller-frank\/?page_id=2"},"modified":"2021-01-22T13:10:25","modified_gmt":"2021-01-22T12:10:25","slug":"sample-page","status":"publish","type":"page","link":"https:\/\/blog.iese.edu\/mueller-frank\/","title":{"rendered":"Homepage"},"content":{"rendered":"\r\n

Home<\/strong><\/p>\r\n

I am an Associate Professor of Economics at IESE Business School. My main area of research is information economics. I focus mainly on three different areas:<\/p>\r\n

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  1. Social learning and learning dynamics.<\/strong> “Social learning\u201d refers to the inferences we draw from the information of others based on observing their opinions and behavior. There are two ways of modeling how inferences are made:<\/li>\r\n<\/ol>\r\n

    \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 In a fully rational, Bayesian manner<\/p>\r\n

    \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 In a boundedly rational manner relying on simple heuristics or algorithms<\/p>\r\n

     <\/p>\r\n

    My research addresses the following questions for both rational and boundedly rational social learning:<\/p>\r\n

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    • How do behavior and opinions evolve when individuals interact in dynamic environments?<\/li>\r\n
    • When does herding behavior \u2014\u00a0in which individuals eventually exhibit a uniformity of behavior or opinions \u2014 arise?<\/li>\r\n
    • When are herds correct given the aggregate private information?<\/li>\r\n
    • To what extent is the evolutionary trajectory of collective, social learning-based societal behavior vulnerable to misinformation and manipulation?<\/li>\r\n<\/ul>\r\n

      I also work on questions related to the design of optimal boundedly rational learning algorithms in dynamic environments where Bayesian learning is not applicable either due to its inherent computational complexity or the lack of sufficient knowledge of the underlying information structure.<\/p>\r\n

       <\/p>\r\n

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      1. Information elicitation. <\/strong>Regarding information elicitation, I focus on two types of questions:\u00a0<\/li>\r\n<\/ol>\r\n

        \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 To what extent does the nature of an individual\u2019s decision problem<\/em> \u2014 a situation in which an individual must make a choice under uncertainty – impact the inferences we make about her underlying information based on her choice?<\/p>\r\n

        \u00a0 \u00a0 \u00a0 \u00a0 \u00a0How are mechanisms which incentivize individuals or groups to truthfully reveal their private information designed?<\/p>\r\n

         <\/p>\r\n

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        1. Information aggregation.<\/strong> \u201cThe wisdom of the crowd\u201d is a long-held philosophical principle dating back at least to Aristotle (if not even earlier). This boils down to the idea that even though some event may be uncertain, and though the information each individual has may be noisy, the aggregate of individual beliefs is accurate.<\/li>\r\n<\/ol>\r\n

          \u00a0 \u00a0 \u00a0 \u00a0 \u00a0But absent knowledge of how individual beliefs are generated, how can we aggregate the beliefs to achieve \u201cthe wisdom of the crowd\u201d?<\/p>\r\n

          \u00a0 \u00a0 \u00a0 \u00a0 \u00a0I study the design of simple mechanisms that achieve aggregation in unspecified information environments where the mechanism designer has\u00a0 no knowledge of the information\u2019s structure.<\/p>\r\n

           <\/p>\r\n

          I teach Global Economics \u2014 a class on the global economy with a macroeconomic focus \u2014 in IESE\u2019s MBA, Executive MBA, Executive Education, and custom programs. I also teach Managerial Economics in the Master in Management program, a course concerned with the application of economic principles to key management decisions.<\/p>\r\n","protected":false},"excerpt":{"rendered":"

          Home I am an Associate Professor of Economics at IESE Business School. My main area of research is information economics. I focus mainly on three different areas: Social learning and learning dynamics. “Social learning\u201d refers to the inferences we draw from the information of others based on observing their opinions and behavior. There are two […]<\/p>\n","protected":false},"author":217,"featured_media":0,"parent":0,"menu_order":10,"comment_status":"closed","ping_status":"open","template":"","meta":{"footnotes":""},"class_list":["post-2","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/blog.iese.edu\/mueller-frank\/wp-json\/wp\/v2\/pages\/2","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.iese.edu\/mueller-frank\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/blog.iese.edu\/mueller-frank\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/mueller-frank\/wp-json\/wp\/v2\/users\/217"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/mueller-frank\/wp-json\/wp\/v2\/comments?post=2"}],"version-history":[{"count":9,"href":"https:\/\/blog.iese.edu\/mueller-frank\/wp-json\/wp\/v2\/pages\/2\/revisions"}],"predecessor-version":[{"id":24,"href":"https:\/\/blog.iese.edu\/mueller-frank\/wp-json\/wp\/v2\/pages\/2\/revisions\/24"}],"wp:attachment":[{"href":"https:\/\/blog.iese.edu\/mueller-frank\/wp-json\/wp\/v2\/media?parent=2"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}