Fischer Black Prize

Fischer Black Prize is a memorial prize in awarded in honor of Fischer Black that rewards individual financial research. The prize was established in 2002 and first awarded in 2003. It is awarded to a financial scientist for a body of work that demonstrates significant original research that is relevant to finance practice. Eligible scholars must either be below 40 years in age, or under age 45 but not have been awarded a Ph.D. (or equivalent) by age 35. The prize is awarded biennially at the American Finance Association's Annual Meeting.cite web|url=http://www.afajof.org/association/fischerblack.asp|accessdate=2007-09-09|date=2007-01-18|title=Fischer Black Prize|publisher=The American Finance Association] This award to honor the top young finance scholar is analogous to the John Bates Clark Medal in economics and the Fields Medal in mathematics. [cite web|url=http://chronicle.uchicago.edu/030123/black-prize.shtml|accessdate=2007-09-09|date=2003-01-23|title=Rajan wins first Fischer Black Prize|work=The University of Chicago Chronicle|publisher=The University of Chicago Graduate School of Business|author=Chan, Jessamine]

The award honors Fischer Black, a former General Partner at Goldman Sachs and Professor at the Massachusetts Institute of Technology. Among Black's notable research accomplishments was the development (with Myron Scholes) of the Black-Scholes Option Pricing Model. The awardee is chosen for having a body of research that embodies the Fischer Black hallmark of developing original research. In years where no such candidate meets the rigorous standards, as was the case in 2005, no award is presented.

The Fischer Black Prize is one of two biennial awards presented by the American Finance Association (the other is the Morgan Stanley-American Finance Association Award For Excellence In Finance) [cite web|url=http://www.afajof.org/association/morganstanley.asp|accessdate=2007-09-09|title=Morgan Stanley AFA Award|publisher=American Finance Association|2007-05-24] in alternating years at its annual conference to scholars for bodies of research. The Association also awards two annual awards for individual research publications at its conference (Smith Breeden Prize and Brattle Prize). [cite web|url=http://www.afajof.org/journal/prizes.asp|title=Prizes and Awards|accessdate=2007-09-09|date=2007-03-19|publisher=American Finance Association]

Past Winners

:2003: Raghuram G. Rajan, University of Chicago:2005: Not awarded:2007: Tobias J. Moskowitz, University of Chicago

Notes