Top 5 Quotes & Sayings by Colin Camerer

Explore popular quotes and sayings by an American economist Colin Camerer.
Colin Camerer

Colin Farrell Camerer is an American behavioral economist, and Robert Kirby Professor of Behavioral Finance and Economics at the California Institute of Technology (Caltech).

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Actions Adventurous Affect Applied Applied Mathematics Areas Biology Borrowing Boundaries Brains Hide All Branch Broke Bubble Buying Cases Caught Caught Up Charles Chimpanzees Closest Cousin Crash Culture Darwin Dread Earthquakes Economics Emotional Family Game Genes Genetic Gorillas Happening Horses Hyperactivity Ideas Important Impossible Involving Life Mathematical Mathematics Means Million Million Years Originally Part Pattern People Percent Place Political Political Science Prices Regular Relation Reward Rising Science Selling Sense Share Social Social Life Study Taxonomy Theory Things Thinking Tolerate Tree Uncertainty Unusual Years Years Ago Zebras Less More Hide All See All
It's like simulating earthquakes: we can over and over study a bubble, crash, bubble, crash. Then we can see mathematically if there's some regular pattern and what's going on in people's brains when prices are going up and before the crash is happening.
Caltech is a very adventurous place. Part of the culture is that we tolerate people doing things that seem impossible, and also synthesizing and borrowing ideas across very kooky and unusual boundaries.
We see that hyperactivity and reward areas are important when the bubble's rising. People getting caught up in it. We also see areas involving mentalizing, which means thinking about other people: Who's buying? Who's selling? Do they know something? We see emotional areas before the crash that indicate a sense of uncertainty or dread.
Game theory is a branch of, originally, applied mathematics, used mostly in economics and political science, a little bit in biology, that gives us a mathematical taxonomy of social life, and it predicts what people are likely to do and believe others will do in cases where everyone's actions affect everyone else.
Charles Darwin and I and you broke off from the family tree from chimpanzees about five million years ago. They're still our closest genetic kin. We share 98.8 percent of the genes. We share more genes with them than zebras do with horses. And we're also their closest cousin. They have more genetic relation to us than to gorillas.
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