Edi Karni

Edi Karni (born March 20, 1944 in Tel Aviv) is an Israeli born American economist and decision theorist. Karni is currently Scott and Barbara Black Professor of Economics at Johns Hopkins University. He is a Fellow of the Econometric Society and an Economic Theory Fellow of the Society for the Advancement of Economic Theory.[1]

After obtaining his B.A. in Economics and Political Science in 1965 from The Hebrew University of Jerusalem, he earned his Ph.D. in 1971 from The University of Chicago under the supervision of Milton Friedman, Gary Becker and Stanley Fischer. Karni is currently a Scott and Barbara Black Professor of Economics at Johns Hopkins University. Karni is a Distinguished professor at the Warwick Business School.[2]

His most influential works are in the fields of decision-making under uncertainty and risk,[3][4][5][6] which includes: modeling state-dependent preferences[7] and the definition of subjective probability,[8] the modeling of awareness and awareness of unawareness[9] and the introduction of the notion of ‘reverse Bayesianism’. He also influenced the field of economics of information,[10] Specifically, the introduction to economics of the notion of credence-quality goods and the explanation of the existence of fraud in competitive market to asymmetric information due to expert knowledge.