Yuliy Sannikov has won the Clark Award

Here is the AEA account, opening bit:

Yuliy 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. He has significantly altered the toolbox available for studying dynamic games, and 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.

Here is excellent coverage from A Fine Theorem, here is part of the opening bit:

The JBC has, in recent years, been tilted quite heavily toward applied empirical microeconomics, but the prize for Sannikov breaks that streak in striking fashion. Sannikov, it can be fairly said, is a mathematical genius and a high theorist of the first order. He is one of a very small number of people to win three gold medals at the International Math Olympiad – perhaps only Gabriel Carroll, another excellent young theorist, has an equally impressive mathematical background in his youth.

Sannikov is at Princeton…congratulations to him and them!

Comments

Thread hijacking here.

I suggest pre-organizing a revolution against the eventual possibility that deep state actors might make use of mind control technologies to attack free thought and brainwash people. This is needed to ensure that we are all ready to fight for freedom, democracy and the basic right to enjoy the privacy of one's mind and cognitive liberty, just on the outside chance (which of course is utterly impossible) that some very evil people might develop such technologies and try to put them into action. And, since such technologies are utterly impossible, obvious such a pre-organization is necessarily benign and could not possibly be illegal or threatening in any manner whatsoever.

Since such technologies do not exist (and are utterly impossible), clearly anyone who opposes the pre-organization of such a revolutionary preparedness needs to go straight to the mental ward because that's like saying they think this stuff is real, and therefore they are mentally ill.

Disclosure.

Oh yeah, and that math stuff is cool. I always got lost with chain rules for some reason, just didn't seem very relevant to me. Do you know that's first year engineering-level math? Well, people are harder to experiment with than metal beams and stuff, so it's understandable that the engineers are ahead of the economists, as it should be. Maybe I should try to learn this stuff better - it seems maybe relevant for understanding continuous dynamic games. Meh, billiard ball analogy.

"Do you know that’s first year engineering-level math?"

Also first-year econ math. In fact in England it's high school math. In Bulgaria they probably cover it in middle school.

While I have for some time supported the move towards empirics in economics, I recognize that the time has come where there needs to be a counterbalance towards theory. This award looks completely reasonable, and I would agree that indeed, for better or worse, game theory is where the action is in terms of moving economic theory forwards.

So this looks like a well deserved award. Congratulations to Yuli Sannikov.

Stochastic calculus? Is that real or something Jeff Goldblum says in dinosaur movies?

Good for him. I hope he turns his talents to astrology in due course.

What "new method"?! I'm pretty sure he used the exact same method used in an enormous amount of the asset-pricing literature in a slightly novel setting.

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