Jan. 10, 2002
Vol. 21 No. 7

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    John Cochrane, the Theodore O. Yntema Professor of Finance in the Graduate School of Business, was recently honored with the TIAA-CREF Institute’s 2001 Paul A. Samuelson Award for Outstanding Scholarly Writing on Lifelong Financial Security for his book Asset Pricing.

    Named in honor of Nobel laureate, economist and University alumnus Paul Samuelson, the award is given each year in recognition of an outstanding research publication containing ideas that Americans in both the public and private sectors can use to maintain and improve financial well-being.

    In his book, Cochrane presents a unified approach to theory and empirical work. He shows how a single idea––price equals expected discounted payoff––underlies the valuation of all assets and underlies procedures for evaluating asset valuation models. The book includes a review of current empirical work and looks at how theories are being developed to address unresolved issues in asset pricing.

    Cochrane, who shares the award with Christian Gollier of the University of Toulouse, received the award Friday, Jan. 4, at the annual meeting of the Allied Social Science Association.

    Austan Goolsbee, Professor of Economics in the Graduate School of Business, has been named one of the 100 Global Leaders for Tomorrow by the World Economic Forum, a Switzerland-based group that builds partnerships between business and society.

    Recipients of the global leader designation must be under age 37, have achieved a position of considerable influence and responsibility, and have shown commitment to public affairs.

    Goolsbee’s research has focused on major public policy issues of the so-called new economy, including the economics of the Internet.

    He currently is teaching a new course for M.B.A. students titled “Business, Public Policy and the New Economy.” He also teaches a Ph.D. course on empirical public finance and organizes an applied economics workshop for Ph.D. students.

    The first gathering of the new group of Global Leaders for Tomorrow will be during the annual meeting of the World Economic Forum, from Saturday, Feb. 2 to Monday, Feb. 4, in New York.

    Randall Kroszner, Professor of Economics in the Graduate School of Business, was sworn in Nov. 30, 2001, as a member of President Bush’s Council of Economic Advisers. Kroszner’s appointment received unanimous consent from the Senate.

    During his term, he will be working on the development and implementation of international economic policy, U.S. macroeconomic policy and a number of regulatory issues.

    His research activities include international and domestic banking and financial institutions and their regulation. He also studies political economy, organization design, corporate governance, law and economics, and monetary economics. Kroszner is Associate Director of the George J. Stigler Center for the Study of the Economy and the State and is a research associate at the National Bureau of Economic Research.

    Susan Hoeber Rudolph, the William Benton Distinguished Service Professor in Political Science and the College, and Jacob Levy, Associate Professor in Political Science and the College, received a $24,000 grant from the Freedom Project to support their class “Freedom, State and Society.”

    The Freedom Project, which is funded by the John Templeton Foundation, annually supports interdisciplinary courses that explore the impact of freedom, free societies and free enterprise.

    Paul Sally Jr., Professor in Mathematics, this week received the Deborah and Franklin Tepper Haimo Award for Distinguished College or University Teaching at the annual meeting of the American Mathematical Society and other mathematical organizations in San Diego. The award recognizes extraordinarily effective teachers whose influence has extended beyond their own institutions.

    Robert Sampson,the Lucy Flower Professor in Sociology and the College, was awarded the 2001 Edwin H. Sutherland Award by the American Society of Criminology.

    The award, which was presented on Wednesday, Nov. 7, 2001, at the society’s annual awards event in Atlanta, Ga., honors Sampson for “outstanding contributions to theory and research by a North American criminologist.”