Paris, March 25, 2022 - The SCOR-PSE Chair, created in 2018 by the SCOR Foundation for Science and the Paris School of Economics (PSE), has presented its 2021 Junior Research Prize to Edouard Schaal and Mathieu Taschereau-Dumouchel, respectively Research Professor at CREI (Centre de Recerca en Economia International) and Assistant Professor of Economics at Cornell University. The award ceremony took place online on Thursday, March 24, 2022, and was followed by a presentation of the winning paper “Herding Through Booms and Busts” by the authors. The judging panel was headed by Gilles Saint-Paul, professor at ENS and PSE, and scientific director of the Chair. 

André Levy-Lang, chairman of the SCOR Foundation for Science, commented: “This year’s young winners of the SCOR-PSE award have conducted innovative research on the nature of business cycle fluctuations. Their theory, which is based on the "herding" of rational agents, delivers endogenous boom-bust cycles following the adoption of new technologies. This work is particularly stimulating and promising.”

About the SCOR-PSE Chair

Under the scientific leadership of Gilles Saint-Paul (PSE, ENS) and the executive leadership of Axelle Ferrière (PSE, CNRS), the SCOR-PSE Chair, created in June 2018, aims to promote the development and dissemination of research into macroeconomic risk, in particular rare events and uncertainties that remain difficult to model. It publishes articles, organizes an annual conference and gives out the Junior Research Prize each year.