Introduction
Robert Frank is a renowned American economist who has made significant contributions to the field of behavioral economics. He is known for his research on the emotional and psychological factors that influence economic decision-making. Frank has published numerous articles and books, including his bestseller “The Economic Naturalist,” in which he applies economic principles to everyday scenarios.
This article will delve into the life and career of Robert Frank, exploring his early years, his education, his professional achievements, and his impact on the field of economics.
Early Life and Education
Robert H. Frank was born on November 1, 1945, in Syosset, New York. His father was a sales representative for a toy company, and his mother was a homemaker. Frank’s interest in economics began at a young age when he was intrigued by the concept of supply and demand. His love for the subject continued throughout his school years, and he pursued a degree in economics from Cornell University.
Frank earned a bachelor’s degree in economics from Cornell University in 1966, where he graduated summa cum laude. He then went on to earn a Ph.D. in economics from the University of California, Berkeley, in 1972.
Academic Career
After obtaining his Ph.D., Frank began his academic career as an assistant professor of economics at the University of Pennsylvania. He then moved on to Yale University, where he held a joint appointment in the economics and law departments.
In 1977, Frank returned to Cornell University, where he spent the majority of his academic career. He was appointed professor of economics in 1989 and was named the Henrietta Johnson Louis Professor of Management and Professor of Economics in 2000.
Frank’s research focuses on behavioral economics, which is a subfield of economics that incorporates psychology and sociology into economic theory. His work examines the role of emotions, social norms, and other non-rational factors in economic decision-making.
Frank is also a prolific writer, having authored or co-authored several books and numerous articles. His book “The Economic Naturalist” became a bestseller, and it presents economic concepts in the context of everyday situations.
In 2008, Frank was elected to the American Academy of Arts and Sciences, which is one of the most prestigious honors society in the United States. He was also awarded the Leontief Prize in economics in 2012 for his contributions to economic theory.
Impact on Behavioral Economics
Robert Frank’s work has made a significant impact on the field of behavioral economics. His research has provided insights into the ways in which psychological and emotional factors influence economic decision-making. He is known for his argument that social norms play a significant role in shaping economic behavior.
Frank’s research has also shed light on the importance of context in decision-making. He has shown how individuals are influenced by their surroundings and how markets can create feedback loops that reinforce certain behaviors.
Frank’s work has also been influential in the public policy arena. He has advocated for policies that take into account the role of social norms and emotions in decision-making. For example, he has argued that policies aimed at reducing the consumption of unhealthy products should focus on changing social norms rather than relying solely on individual willpower.
Personal Life
In addition to his academic contributions, Robert Frank is known for his passion for music. He is an accomplished pianist and frequently performs classical music at public venues. He has also written about the relationship between music and economics, arguing that the two fields share many of the same principles.
Frank is married to Nancy R. Burton, who is also an economist. They have two children and live in Ithaca, New York.
Conclusion
Robert Frank is a leading economist whose work has greatly contributed to the field of behavioral economics. His research has provided important insights into the emotional and psychological factors that influence economic decision-making. He is also a prolific writer and has advocated for policies that take into account the role of social norms and emotions in decision-making. Frank’s work has had a significant impact on the field of economics and has highlighted the importance of interdisciplinary research.