Awards

Nobel Prize - 2022

Nobel Prize in Economic Sciences

About Philip H. Dybvig

Philip Dybvig is an American economist and a Boatmen’s Bancshares Professor of Banking and Finance at the Olin Business School of Washington University in St. Louis. He attended Indiana University where he received a B.A. in mathematics and physics in 1976. He then attended Yale University where he obtained his M.A., MPhil, and Ph.D. degrees in economics.

He is a former professor at Yale and assistant professor at Princeton University. Dybvig’s research interests include asset pricing, banking, investments, and corporate governance. He was also the president of the Western Finance Association from 2002 to 2003 and Director of the Institute of Financial Studies at Southwestern University of Finance and Economics. He is most notably known for his collaboration with Douglas Diamond on the Diamond-Dybvig model of bank runs, which describes the vulnerability of banks during financial crises. The Diamond-Dybvig model has been used by banking systems for almost four decades.

In recognition for his work, he and Diamond were awarded the 2022 Nobel Memorial Prize in Economic Sciences.