Pia Malaney

Senior Economic Analyst
Institute for New Economic Thinking

Dr. Pia Malaney’s research has focused on economic, biological, and sociological approaches to human welfare. Her dissertation written under Eric Maskin, established a new Gauge Theoretic foundation for welfare economics allowing biological and behavioral realism for dynamic economic agents. She has held positions at the Harvard Institute for International Development and the Center for International Development at Harvard’s Kennedy School where she worked in collaboration with Asian and African governments of the development of health care and economic policies. Dr. Malaney’s current research focus is the role of scientific realism in the foundations of economic theory and its expected effects on the economics of development, education, gender, and welfare. She received her BA from Wellesley College and her PhD from Harvard University.  

My Grants

The goal of this project is provide the mathematics for a second marginal revolution enabling the natural modeling of heterogeneous agents with unstable beliefs, fully dynamic preferences, and allowances for an increased level of self-inconsistency.

The core economic toolkit is subject to a fundamental trade off. It is generally true that the weaker the mathematical tools available to economists, the stronger the assumptions that must be made about the nature of biological agents. Conversely, it is through the development of stronger mathematical tools that core assumptions may be weakened to be compatible with what is known from the biological and behavioral sciences.