MIT professor Stephen A. Ross has been awarded the Deutsche Bank Prize in Financial Economics by the Center for Financial Studies (CFS). 

The Deutsche Bank Prize is sponsored by the Deutsche Bank Donation Fund and includes an endowment of €50,000. It honors researchers who have made advances in economic theory and practice. Ross received the prize for his groundwork and fundamental contributions to the analytical development of financial economics. 

 "The work of Stephen Ross has shaped today’s thinking in financial innovation, practice, and policy.  For more than 25 years major models developed by him have marked the economic world," Jury Chairman and CFS Director Jan Pieter Krahen said in a statement.   

Ross is the Franco Modigliani professor of Financial Economics at the MIT Sloan School of Management and has held academic posts at universities including Yale University and the University of Pennsylvania. He is the inventor of the Arbitrage Pricing Theory and the Theory of Agency, co-creator of Risk-Neutral Pricing and of the Binomial Model for Pricing Derivatives and is co-author of the paper, A Theory of the Term Structure of Interest Rates and the textbook Corporate Finance

The prize will be presented to Ross by the CFS as part of an academic symposium on September 24. CFS is a Goethe University Frankfurt affiliate that conducts research on financial markets, financial intermediaries and monetary economics.