Angus Deaton, the Dwight D. Eisenhower Professor of International Affairs and professor of economics and international affairs at the Woodrow Wilson School, has been selected to receive the prestigious BBVA Foundation Frontiers of Knowledge Award in the category of Economics, Finance and Management for his "fundamental contributions to the theory of consumption, savings and measurement of economic wellbeing."

“I am honored and delighted to have been selected to receive this award, and to join the enormously distinguished group of economists and scientists who have previously been recognized,” said Deaton.

The BBVA Foundation promotes high quality scientific research by funding research projects; disseminating the results to society through diverse channels including symposia, workshops, lectures, publications and exhibitions; and providing advanced training and research awards.   The Frontiers of Knowledge Awards seek to recognize and encourage world-class research and artistic creation, prizing contributions of broad impact for their originality and theoretical significance.   The prizes are among the most generous in the world.

“Deaton has broken new ground in development economics and is a pioneer in the measurement of welfare and poverty,” wrote the “jurors” who made up the selection committee, chaired by Columbia University’s Guillermo Calvo.

In announcing the award, the BBVA Foundation noted that Deaton’s research “applies rigorous methods to important real-world issues. Throughout his career, his work has been characterized by an attempt to understand empirical evidence in terms of a clearly articulated theoretical structure and attention to the behavior underlying the data.”

The announcement went on to note that Deaton moved from applying econometrics to analyze consumer demand to employing consumption as a key measure of welfare and poverty.   “He has helped us to a better understanding of the relationship between consumption and income, while showing there are parts of this relationship that do not work and need to be reformulated.”

“This award is incredibly well-deserved,” said Christina Paxson, dean of the Woodrow Wilson School.   “Angus Deaton is one of the most influential and globally respected figures in economics. His research, which is known for its rigor, clarity, and relevance for public policy, has inspired a generation of economists.” 

Deaton’s main interests are in health and development and he is a leading researcher with the Wilson School’s Research Program in Development Studies and the Center for Health and Wellbeing . His current pursuits include research on poverty and inequality around the world. He also works on the determinants of health, particularly the relationship between income and health, both domestically and internationally. Deaton was awarded an Honorary Degree of Doctor of Science in Social Science from the University of Edinburgh in Scotland in 2011. He is also a fellow of the American Academy of Arts and Sciences, of the British Academy, and of the Econometric Society, where he was the first recipient of the Society’s Frisch Medal for Applied Econometrics. He has also served as president of the American Economic Association.

For more information: http://www.fbbva.es/TLFU/tlfu/ing/microsites/premios/fronteras/galardonados/2011/economia.jsp