Foundation for the Advancement of
Research in Financial Economics
The History of the Stephen A. Ross Prize
In early 2006 a group of individuals who had Steve Ross as an academic mentor during his more than 35 years of teaching at Penn, Yale, and MIT sought a way to create a lasting tribute to Steve and celebrate the influence he has had on financial economics and on their lives. After extensive discussion it was decided that a prize for a publication that exemplifies Steve's research style and values would be the most appropriate way to honor Steve. The group founded FARFE to house the prize. The initial funds to endow the prize were raised in secret almost exclusively within the set of founding members. On October 12, 2007, during the opening dinner of FARFE's founding conference and celebration held at Endicott House in Dedham, Massachusetts the group unveiled the prize to Steve, and in the presence of his family and 45 of the 51 Founding members of FARFE.
By that point $617,500 had been raised, far exceeding the original goal of
$250,000 for this phase and ensuring that the prize will stand as a lasting
tribute to Steve Ross.
Press release from MIT Sloan School.
Announcement of the Establishment of Ross Prize (Video)
Prize Amendment to the FARFE Bylaws