Panel of leading economists to discuss perils and promise of big data

CHICAGO, April 22, 2021 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, and the Mathematical Sciences Research Institute (MSRI), announced its 15th Innovative Quantitative Applications Prize recipient. Daron Acemoglu, Institute Professor at the Massachusetts Institute of Technology (MIT), is the 2020 CME Group-MSRI Prize winner for his work in economics and mathematics. A virtual event honoring Acemoglu will be hosted by CME Group on May 5, 2021 at 10:00 a.m. CT.

Past CME Group-MSRI Prize winners have included distinguished luminaries in economics and mathematics. Seven out of 14 past recipients have gone on to receive the Nobel Prize in Economic Sciences. A complete list of past recipients is available at msri.org.

The CME Group-MSRI Prize recognizes individuals who contribute original concepts in mathematical, statistical or computational methods for the study of markets' behavior and global economics. Acemoglu's work spans a wide range of areas, including political economy, economic development, economic growth, inequality, labor economics, and economics of networks.

"It's a tremendous honor for me to accept this prize," said Acemoglu. The list of past awardees is illustrious and inspiring, and a little bit of humbling of course. It's a privilege to join their ranks. It is particularly meaningful for me since I have aspired throughout my career to use mathematical and statistical tools in order to answer questions that are important for our society and economy."

Acemoglu is the author of five books, including Why Nations Fail: Power, Prosperity, and Poverty, and The Narrow Corridor: States, Societies, and the Fate of Liberty (both with James A. Robinson). He has received numerous awards and prizes, including the Carnegie Fellowship in 2017, the Jean-Jacques Laffont Prize in 2018, and the Global Economy Prize in 2019. He was awarded the John Bates Clark Medal in 2005, the Erwin Plein Nemmers Prize in 2012, and the 2016 BBVA Frontiers of Knowledge Award.

Acemoglu earned a bachelor's degree in economics at the University of York. He also received a MSc in econometrics and mathematical economics, as well as a doctorate in economics, both from the London School of Economics.

"We are pleased to recognize Professor Daron Acemoglu with this esteemed award," said Leo Melamed, Chairman Emeritus of CME Group and founder of the CME Group-MSRI Prize. "His pioneering work, particularly in big data and networks as they apply to business and economics, has significant applications to our industry."

"Daron Acemoglu's extraordinarily wide-ranging research is at the cutting edge of economics and mathematics," said David Eisenbud, Director of MSRI and Professor of Mathematics at the University of California, Berkeley. "MSRI is proud to collaborate with CME Group to honor its importance."

The virtual event honoring Acemoglu will feature presentations focused on topics related to big data, including the intersection of artificial intelligence and economics including business decision-making, finance, labor market implications, and more. Several distinguished economists and academics will be participating in the program, including:

• E. Glen Weyl – Political Economist and Social Technologist, Microsoft Research
• Pascual Restrepo – Assistant Professor, Department of Economics, Boston University
• Maryam Farboodi – Jon D. Gruber Career Development Professor; and, Assistant Professor, Sloan School of Management, MIT
• Joshua Gans – Jeffrey S. Skoll Chair of Technical Innovation and Entrepreneurship; and, Professor of Strategic Management, Rotman School of Management, University of Toronto

Members of the media can attend the virtual seminar where CME Group will present Acemoglu with the CME Group-MSRI Prize medal. Email Liz McGee at liz.mcgee@cmegroup.com for more information and to register.

The CME Center for Innovation's mission is to identify, foster and showcase examples of significant innovation and creative thinking pertaining to markets, commerce or trade in the public and private sectors. For more information on the CME Center for Innovation, visit http://www.cmegroup.com/company/center-for-innovation/.

About MSRI

The Mathematical Sciences Research Institute (MSRI) in Berkeley, California, is one of the world's preeminent centers for collaborative research in the mathematical sciences. MSRI advances mathematical research through workshops and conferences since its founding in 1982, and over 1,700 mathematicians are hosted by MSRI each year. A rotating committee of renowned mathematical scientists governs the Institute's scientific program with a vision of the field that is perpetually renewed. A Board of Trustees, composed of accomplished business and academic leaders, oversees the Institute's strategy, and assures its operational and financial welfare. The Institute has been funded primarily by the National Science Foundation with additional support from other government agencies, private foundations, corporations, individual donors, and over 100 academic institutions.

MSRI also serves a wider community through the development of human scientific capital, providing postdoctoral training to extraordinary young scientists and increasing the diversity of the research workforce. The Institute advances the education of young people with conferences on critical issues in mathematics education and the creation of a nationwide Math Circles movement engaging children in math as a hobby. MSRI strives to make mathematics accessible and exciting to those outside the field through the National Math Festival, sponsorship of Numberphile, YouTube's most popular informal mathematics channel, film production for public television, and the Mathical Book Prize for youth literature. www.msri.org

About CME Group

As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign  exchange, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.  With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.

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