February 25th 2010

Economists Andreu Mas-Colell (Barcelona, 1944) and Hugo Sonnenschein (New York, 1940) share the award for extending the reach and applicability of general equilibrium analysis and for establishing the modern theory of aggregate demand. According to the jury, their work has helped to achieve better models for the overall behavior of the economy, and has had a major impact on the empirical measurement of consumer behavior and its interpretation.Professor Mas-Colell adds the Frontiers of Knowledge Award to the large series of prizes and recognitions he has got in his successful academic career which include the King Juan Carlos I Prize in Economics (1989) or the National Research Prize (2006).The BBVA Foundation Frontiers of Knowledge Awards seek to recognize and encourage world-class research and artistic creation, prizing contributions of lasting impact for their originality, theoretical significance and ability to push back the frontiers of the known world. These international awards span eight categories: Basic Sciences (Physics, Chemistry, and Mathematics), Biomedicine, Ecology and Conservation Biology, Information and Communication Technologies, Economics, Finance and Management, Contemporary Music, Climate Change and Development Cooperation. The total budget of these prizes is 3.2 millions of Euros.