Nobel Economics Prize Goes to 3 Professors for Research into Economic Consequences of Colonialism

by Rob Kozlowski, Pensions & Investments, October 14, 2024: Economists Daron Acemoglu, Simon Johnson, and James Robinson were awarded the Nobel Prize in Economics for research explaining how institutions created by European colonizers affected the long-term prosperity of their colonies. “When focused on the... extraction of resources, colonizers created inefficient economic and social institutions that persisted due to a ‘commitment problem’ — a belief that promises of political reform could not be trusted,” Bruce Jacobs said. “Whether a population was able to mobilize and become a threat determined whether it became trapped or was able to transition to more equitable institutions.” The laureates’ research “reinforces the conclusion that emphasizing democracy and inclusive institutions goes hand-in-hand with the goals of fighting poverty and promoting economic development,” Jacobs added.

Wharton’s Jacobs Levy Center to Investigate AI in Finance at Annual Conference

Press Release, September 17, 2021: The Jacobs Levy Equity Management Center for Quantitative Financial Research will explore the potential impact of artificial intelligence on the financial sector at its annual conference on Friday, September 20, at Jon M. Huntsman Hall on the University of Pennsylvania’s campus... in Philadelphia. The conference will hear presentations from scholars discussing recent advances in the application of AI to return prediction and feature a keynote session with Nobel laureate Robert Shiller and Wharton Professor Emeritus Jeremy Siegel. “Generative artificial intelligence is an exciting new technology with great promise,” said Bruce Jacobs, chair of the Jacobs Levy Center Advisory Board. “The insights from our distinguished speakers will help our industry adapt and benefit.”

The Birth of Portfolio Theory

by Frank J. Fabozzi, Bruce I. Jacobs, and Kenneth N. Levy, Journal of Portfolio Management, Special Issue Dedicated to Harry Markowitz, July 2024: The introduction to this special issue dedicated to Nobel laureate Harry Markowitz, co-edited by Frank Fabozzi, Bruce Jacobs, and Ken Levy, recalls the immense impact of... Harry’s foundational portfolio theories on the investing world, and describes how his insights continue to guide and shape portfolio management today. In recounting his many accomplishments in multiple fields of inquiry, the authors also highlight the affection he inspired from his colleagues and collaborators through his warmth, encouragement and support, and insatiable curiosity.