Joel Sobel What are the Costs of Lies?
Joel Sobel is Professor of Economics at the University of California, San Diego. His main research interests include game theory and information economics. Having received Sloan and Guggenheim foundation fellowships, Sobel is an elected fellow of both the American Academy of Arts and Sciences and the Econometric Society. An associate editor for the Applied Economics Research Bulletin, Sobel also edits the journal Econometrica.
Area of Research
Consumer Economics, Micro-Based Behavioral Economic, Economic Sociology, Economic Anthropology, Social and Economic Stratification
since 1988
Professor of Economics
University of California, San Diego
1984-1988
Associate Professor of Economics
University of California, San Diego
1978-1984
Assistant Professor of Economics
University of California, San Diego
1978
Ph.D. Applied Mathematics
University of California, Berkeley
1978
M.A. Economics
University of California, Berkeley
1974
B.S. Mathematics
University of Michigan, Ann Arbor
- Econometrica (since 2015)
- Applied Economics Research Bulletin (since 2007)
- Foundations and Trends in Economic Theory (since 2004)
- American Economic Review (2005-2010)
- Theoretical Economics (2005-2010)
- Games and Economic Behavior (2001-2012)
- Journal of Economic Literature (1998-2006)
- Journal of Economic Theory (1993-2002)
- Journal of Mathematical Economics (1989-1994)
Fellowships
- Charter Fellow, Economic Theory Society (2011)
- Fellow of American Academy of Arts and Sciences (elected 2010)
- Fellow of the Econometric Society (elected 1990)
- Charter Member of Game Theory Society (1998)
Prizes
- UCSD Teaching Awards (1983, 1984, 2009, 2010)
- National Science Foundation Research Grants (1982–2002, 2006-2016)
- Guggenheim Fellowship (2006–2007)
- Russell Sage Foundation (2006)
- Sloan Foundation Fellowship (1987–1989)
Economic theory assumes that individuals are self-interested and that they will lie for material advantage. However, this is not always the case as lies have costs. In this video, JOEL SOBEL investigates the precise nature of these costs. Developing a theoretical model of the costs of lies, Sobel tests the resulting hypotheses in laboratory experiments. Though the work shows that a majority of subjects lie to the maximum possible extent, it also provides important insights into factors that can reduce the extent or the incidence of lying. Identifying areas for further research, Sobel explains how a fuller understanding of the costs of lies will help us to design organizations and relationships that better facilitate honest interaction.
LT Video Publication DOI: https://doi.org/10.21036/LTPUB10681
