NEW YORK – Professor Douglas W. Diamond, one of the world’s leading authorities on bank runs and liquidity crises, will be awarded the 2018 Onassis Prize in Finance. In the area of International Trade, Professors Jonathan Eaton and Samuel Kortum will share the relevant 2018 Onassis Prize for their collaborative efforts researching the impact of technology on global trade. The Shipping Prize will be shared between Professors Mary Brooks and Wayne Talley, maritime economists known for their work on ports and the risks of terrorism and piracy to the shipping industry, according to the Onassis Foundation press release.
The Onassis Prizes are awarded to the world’s foremost academics in the fields of finance, international trade and shipping, to honour outstanding academic achievements that have had international significance. The prizes, each worth $200,000, are sponsored by the Onassis Foundation and together with Cass Business School, its Centre for Shipping, Trade and Finance and the City of London, are granted every three years. The prizes recognize the lifetime achievement of experienced academics in the fields of finance, international trade and shipping – the disciplines in which Aristotle Onassis excelled.
The Onassis Prizes’ recipients were selected by a panel of judges, two of whom are Nobel Laureates, and other distinguished academics, and were announced at The Mansion House, the official office of the Lord Mayor of the City of London, by Alderman David Graves on Friday 20th April. The 2018 prizes have been awarded to:
Onassis Prize in Finance
- Professor Douglas W. Diamond, Merton H. Miller Distinguished Service Professor of Finance, Booth School of Business, University of Chicago
Onassis Prize in International Trade (shared)
- Professor Jonathan Eaton, Distinguished Professor of Economics, Department of Economics, The Pennsylvania State University
- Professor Samuel S. Kortum, James Burrows Moffatt Professor of Economics, Department of Economics, Yale University
Onassis Prize in Shipping (shared)
- Professor Mary R. Brooks, Professor Emerita, Rowe School of Business, Dalhousie University and Chair of the Marine Board of the National Academies, Washington DC.
- Professor Wayne K. Talley, Professor of Maritime and Supply Chain Management, Executive Director of the Maritime Institute and Eminent Scholar, Strome College of Business, Old Dominion University
The 2018 Onassis Prizes will be formally presented to the recipientsat a Banquet at the Guildhall in the City of London on 24th September, following an academic conference featuring allthe recipients at Cass Business School earlier in the day.
Dr Anthony Papadimitriou, President of the Onassis Public Benefit Foundation and Chair of the judging panel said:
“Awards like these, allow us to foresee and, in a way, return from the future, where the work of the distinguished scholars of our era will have received the greatest possible recognition. Aristotle Onassis’ name is synonymous with the spheres of endeavor in which our laureates are engaged, and shipping, trade and finance are the three core areas of business activity in contemporary economies. The contributions made to the research in these fields by today’s winners is such that we can safely say they have brought us not one but many steps closer to the knowledge we will enjoy in the future. We, at the Onassis Foundation, are particularly proud to support the Onassis International Prizes for Finance, Shipping and Trade in association with the City of London and the City University/Cass Business School. The awards are already in their fourth iteration. Previous winners have continued to distinguish themselves and make outstanding contributions, with Professor Eugene Fama receiving a Nobel Prize for his work.”
Professor Costas Grammenos, Chairmanof theCostas Grammenos Centre for Shipping, Trade and Finance at Cass, said:
“The Onassis Prizes are awarded for the fourth time and one can safely say that they have become the most highly respected international awards in the areas of finance, international trade and shipping. I warmly congratulate the recipients whose distinguished achievements have profoundly influenced their disciplines and continue to have an impact on academic thinking and business conduct worldwide.”
Finance, Cass Business School, City, University of London. (Photo provided by Onassis Foundation)
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