Since 1996, the Commonfund Institute has awarded a cash prize for original research on endowment and foundation management. The prize is currently administered by the European Finance Association.
Philip H. Dybvig, Washington University, for research on asset allocation and spending rules for educational endowments (1996)
Robert J. Shiller, Yale University, for Irrational Exuberance (2000)
Ludovic Phalippou, University of Amsterdam; and Oliver Gottschalg, HEC Paris, for "Performance of Private Equity Funds" (2005)"
Harrison Hong, Princeton University and Marcin Kacperczyk, University of British Columbia, for “The Price of Sin: The Effects of Social Norms on Markets” (2006)
Doron Avramov, University of Maryland; Robert Kosowski, Imperial College London; Narayan Naik, London Business School; and Melvyn Teo, Singapore Management University, for "Investing in Hedge Funds when Returns are Predictable"(2007)
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