ISB professor wins Fischer Black prize

Raghuram G Rajan, professor of finance at Indian School of Business, Hyderabad, has won the Fischer Black prize instituted by the American Finance Association.

The Fischer Black prize, a biannual prize modelled along the lines of the ‘Fields' medal in Mathematics and the ‘Clark' medal in economics, recognises outstanding contributions to the field of finance by a person under 40-years, an ISB release on Tuesday said.

The award was set up in honour of Fischer Black, who was co-inventor of the Nobel prize winning Black Scholes Metron options-pricing model, it said.

Raghuram shares the award with Joseph L Gidwitz, a  professor of finance at the University of Chicago, the release added.