On behalf of FTG board, I hope that you will join me in congratulating Darrell Duffie (FTG fellow), Nicolae Garleanu (FTG senior member and former FTG director), and Lasse Pedersen have won the 7th Stephen A. Ross Prize in Financial Economics awarded by the Foundation for Advancement of Research in Financial Economics (FARFE) for their 2005 Econometrica paper “Over-the-Counter Markets.”  The biennial prize, currently $50,000, is given to a paper published in the last fifteen years that either develops or tests a theory pertaining to financial economics. 


The official announcement is below and a link to the Prize Announcement is here: http://www.farfe.org/ross_prize.html; and you can find the prize citation here:





Zhiguo He on behalf of the FTG Board (Diego Garcia, Brett Green, Konstantin Milbradt, and Giorgia Piacentino).