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Xavier Gabaix, NYU Stern Professor of Finance, was awarded the 2012 Lagrange-CRT Foundation Prize for his research in complex systems, in particular for his work on power laws in financial markets and macroeconomics. Each year, the international Prize is awarded to a scientist or scientists under the age of 50 for their achievements, theoretical and experimental, relevant to the progress, applications and dissemination of complexity science.

Professor Gabaix shares the € 50,000 prize Prize with Lara Adamic of the University of Michigan. The award was presented by the Institute for Scientific Interchange Foundation to Professor Gabaix on June 28 in Turin, Italy.