Xavier Gabaix

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Xavier Gabaix
Born August 1971 (age 47)
Nationality French
Institution Harvard University
New York University
Field Macroeconomics
Alma mater Harvard University
Ecole Normale Supérieure
Robert Barro
Information at IDEAS / RePEc

Xavier Gabaix (born August 1971) is a French economist, currently the Pershing Square Professor of Economics and Finance at Harvard University. He has been listed among the top 8 young economists in the world by The Economist.[1] He holds a B.A. in Mathematics from the Ecole Normale Supérieure, as well as a Ph.D. in Economics from Harvard University.

Gabaix mostly researches asset pricing, behavioral economics, and macroeconomics. He has many notable and highly original research contributions on a number of subjects in financial economics, including the level of compensation of corporate executives, and behaviorally influenced decision making and its influence on asset market behaviour. In some of his work, he has made use of axiom-based models of the shapes of the tails of probability distributions. A hallmark of Professor Gabaix's research style is his propensity to take unexpected directions.[2] He previously held a position as Associate Professor of Economics at the Massachusetts Institute of Technology.

Bounded Rationality[edit]

Gabaix continues to work on bounded rationality. His paper A Behavioral New Keynesian Model was called "...the most interesting macroeconomic theory paper in years" by Bloomberg View in an article titled Answering The Hardest Question In Economics. The article goes on to suggest that the work "heralds a sea change in the way macroeconomic theory gets done."


Gabaix was awarded the American Finance Association Fischer Black Prize, 2011. The award is given to a young researcher whose body of work "best exemplifies the Fischer Black hallmark of developing original research that is relevant to finance.".[3] He was the winner of the 2010 Bernacer Prize to the best European economist under 40 working in macro-finance for his original research contributions in financial and behavioral economics, including the consequences of seemingly irrational behavior on asset markets, and his analysis of the level of compensation of corporate executives.[4] In 2011, he was awarded the Prix du meilleur jeune économiste de France, a prize awarded yearly to a French economist under forty years of age "who has combined recognized expertise with active participation in public debate". In 2012, he was one of the recipients of the Lagrange Prize for research on complex systems, together with Lada Adamic, a specialist in social networks analysis.[5]


  1. ^ "International bright young things", The Economist, December 30, 2008
  2. ^ [1]
  3. ^ [2]
  4. ^ [3]
  5. ^ "Premio Lagrange 2012 a Lada Adamici e Xavier Gabaix" (in Italian). Fondazione CRT. 28 June 2012. Archived from the original on April 2, 2013.

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