2016 John Bates Clark Medalist at GSB

Yuliy Sannikov
Yuliy Sannikov

In early 2016, YULIY SANNIKOV, professor of economics at the Graduate School of Business, was honored with one of the most celebrated and eagerly anticipated awards presented by the American Economic Association: the John Bates Clark Medal. This award is annually presented to the American economist under the age of 40 who is judged to have made the most significant contribution to economic thought and knowledge.

“Sannikov’s work is impressive. It is elegant, powerful and it paves the way for further analysis on lots of problems, said the AEA when making the announcement of Sannikov’s recognition. “He is one of the few theorists in many years to have introduced a truly novel tool that changed the way theory is done.”

The 38-year-old Sannikov is a theorist who has developed new methods for analyzing continuous time dynamic games using stochastic calculus methods. His work has not only broken new ground in methodology, it has had a substantial influence on applied theory. According to the AEA judges, Sannikov has significantly altered the toolbox available for studying dynamic games. As a result of his contributions, new areas of economic inquiry have become tractable for rigorous theoretical analysis. The areas of application include the design of securities, contract theory, macroeconomics with financial frictions, market microstructure, and collusion.

In 2015, Sannikov won the Fischer Black Prize, which is awarded to a “financial scientist for a body of work that demonstrates significant original research that is relevant to finance practice.”

In 2004, Sannikov received a PhD in Business Administration from Stanford’s Graduate School of Business.

“Sannikov’s research agenda is truly remarkable. He has an innovation uniquely associated with him, which has led to a variety of truly novel analyses. He has new ideas, and almost all of his papers can be considered to have taken the existing literature to new levels, opening up new lines of inquiry,” according to the AEA judges.