Peter Diamond

2010 Nobel Prize Winner in Economic Sciences

Peter Diamond was awarded the Nobel for his seminal work on search theory, the theory of the frictions and incentives involved in the process of matching. He is an Institute Professor at the Massachusetts Institute of Technology, known for his analysis of U.S. Social Security policy and his work as an advisor to the Advisory Council on Social Security in the late 1980s and 1990s. It was announced at the end of 2010 that President Barack Obama was to renominate Peter to the U.S. Federal Reserve’s Board of Governors.

Peter Diamond

2010 Nobel Prize Winner in Economic Sciences

Peter Diamond was awarded the Nobel for his seminal work on search theory, the theory of the frictions and incentives involved in the process of matching. He is an Institute Professor at the Massachusetts Institute of Technology, known for his analysis of U.S. Social Security policy and his work as an advisor to the Advisory Council on Social Security in the late 1980s and 1990s. It was announced at the end of 2010 that President Barack Obama was to renominate Peter to the U.S. Federal Reserve’s Board of Governors.

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Biography

Peter Diamond earned a bachelor’s degree summa cum laude in mathematics from Yale University and received a Ph.D. at the Massachusetts Institute of Technology. After beginning his teaching career at the University of California, Berkeley, Diamond returned to the MIT faculty in 1966 and has remained at the Institute ever since. He was promoted to full professor in 1970, and was named Institute Professor -the highest honor awarded by MIT’s faculty and administration- in 1997. Among many other avenues of research he has pursued in his career, he helped develop studies from the late 1970s onward that examined the ways markets function over a period of time. In 2003, he served as president of the American Economic Association. He has received numerous awards and honours, including Guggenheim and Fulbright fellowships.

Topics

  • Analysis of Markets with Search Frictions
  • Regulation and Economic Policy
  • Pensions & Taxation
  • Labour Analysis
  • Capital Markets and Risk Sharing

Publications

  • Pension Reform: A Short Guide (with Nicholas Barr) (2010)
  • Reforming Pensions: Principles and Policy Choices (with Nicholas Barr) (2008)
  • Behavioral Economics and Its Applications (edited with Hannu Vartiainen) (2007)
  • Saving Social Security: A Balanced Approach (with Peter R. Orszag) (2004)
  • Taxation, Incomplete Markets and Social Security (2002)
  • Social Security Reform (2002)

Awards

  • 2010 Nobel Memorial Prize in Economic Sciences
  • 2008 recipient of the Robert M. Ball Award for Outstanding Achievements in Social Insurance, awarded by NASI
  • 2005 Jean-Jacques Laffont Prize
  • 2003-4 Killian Award, MIT
  • 2003 Samuelson Award from TIAA-CREF
  • 1994 Nemmers Prize
  • 1980 Mahalanobis Memorial Award

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