Bachelor in Economics and Mathematics, University Wisconsin, Madison, 1984. Attended, London School Economics, 1985. Doctor of Philosophy in Economics, Massachusetts Institute of Technology, 1989.
Rabin"s research focuses primarily on incorporating psychologically more realistic assumptions into empirically applicable formal economic theory. His topics of interest include errors in statistical reasoning and the evolution of beliefs, effects of choice context on exhibited preferences, reference-dependent preferences, and errors people make in inference in market and learning settings. Rabin was the Edward G. and Nancy South. Jordan Professor of Economics at the University of California, Berkeley Economics Department for 25 years before moving to Harvard.
He received a Bachelor of Arts in Economics and Mathematics from University of Wisconsin–Madison in 1984 and Doctor of Philosophy in Economics from Massachusetts Institute of Technology in 1989.
Before entering Massachusetts Institute of Technology, he was a research student at the London School of Economics. Rabin has also been a visiting professor at Massachusetts Institute of Technology, London School of Economics, Northwestern, Harvard, and Cal Technical, and a visiting scholar at the Center for Advanced Study in Behavioral Sciences at Stanford, and the Russell Sage Foundation.
His research is directed, among other economic fields, towards behavioral finance and behavioral economics. Rabin works on the economics of individual self-control problems, reference-dependent preferences, fairness motives and mistakes in probabilistic reasoning.
He developed Rabin fairness as a model to account for fairness in social preferences.
In 2001 he was awarded the John Bates Clark Medal by the American Economic Association and also the MacArthur "Genius" Fellowship. In 2006 he was awarded the John von Neumann Award by the Rajk László College for Advanced Studies.
Member Russell Sage Foundation Behavioral Economics Roundtable, since 1996. Fellow: Econometric Society, American Academy Arts & Sciences. Member: Phi Beta Kappa.