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MIT’s Parag Pathak wins John Bates Clark award for most promising economist under 40

Parag Pathak was given the John Bates Clark award for his work on market design and education policy

business Updated: Apr 21, 2018 13:05 IST
Parag Pathak,John Bates Clark award,MIT
Photo: American Economic Association

Parag Pathak, a Massachusetts Institute of Technology professor, won the John Bates Clark award for contributions from a young economist.

Pathak, 37, was honored for his work on market design and education policy, the Nashville, Tennessee-based American Economic Association said on Friday in a statement on its website. It said his work “blends institutional knowledge, theoretical sophistication, and careful empirical analysis to provide insights that are of immediate value to important public-policy issues.”

His studies in Boston provided partial evidence that charter schools boosted educational attainment and have been central in the debate on expanding access to the schools, the AEA said.

“The studies also add to a growing body of evidence suggesting that urban charter schools have the potential to generate impressive achievement gains, especially for minority students living in high-poverty areas,” the association said.

Started in 1947 as a biennial prize, the award is now being given annually to an economist under 40 years old working in the U.S. who is judged to have made “the most significant contribution to economic thought and knowledge,” according to the association.

Past winners of the accolade include the late Nobel laureate Milton Friedman; New York Times columnist and City University of New York professor Paul Krugman; and Lawrence Summers, a former Treasury secretary and ex-director of President Barack Obama’s National Economic Council. Data compiled by Bloomberg show that recipients of the medal have almost a one-in-three chance of eventually winning the Nobel Prize in economics.

First Published: Apr 21, 2018 13:03 IST