Philip Dybvig | |
|---|---|
 Dybvig in 2025 | |
| Born | (1955-05-22)May 22, 1955 (age 70) Gainesville, Florida, U.S. |
| Awards | Nobel Memorial Prize in Economic Sciences (2022) |
| Academic background | |
| Education | Indiana University, Bloomington (BA) University of Pennsylvania Yale University (MA,MPhil,PhD) |
| Academic work | |
| Institutions | Yale University Princeton University Olin Business School |
| Academic background | |
| Thesis | Recovering Additive Utility Functions (1979) |
| Doctoral advisor | Stephen Ross |
Philip Hallen Dybvig (born May 22, 1955) is an American economist. He is theBoatmen's Bancshares Professor of Banking and Finance at theOlin Business School ofWashington University in St. Louis.[1][2]
Dybvig attendedIndiana University and received in 1976 a BA in mathematics and physics. He then attended the economics PhD program atUniversity of Pennsylvania for one year before transferring toYale University, where he received the MA (1978), MPhil (1978), and PhD (1979) degrees in economics.[3] His thesis, titled "Recovering additive utility functions", was supervised byStephen A. Ross.[4]
Dybvig specializes inasset pricing, banking, investments, andcorporate governance.[5] He was formerly a professor atYale University, and assistant professor atPrinceton University.
Dybvig was president of theWestern Finance Association from 2002 to 2003, and was director of the Institute of Financial Studies atSouthwestern University of Finance and Economics (Chengdu,PRC) from 2010 to 2021. He has been editor or associate editor of multiple journals, including theJournal of Economic Theory,Finance and Stochastics,Journal of Finance,Journal of Financial Intermediation,Journal of Financial and Quantitative Analysis, andReview of Financial Studies.[3]
Dybvig is known for his work withDouglas Diamond on theDiamond–Dybvig model of bank runs.[6]
Dybvig was awarded the 2022Nobel Memorial Prize in Economic Sciences, jointly with Diamond andBen Bernanke, "for research on banks and financial crises".[7][8] Dybvig and Diamond wrote “Bank Runs, Deposit Insurance, and Liquidity” in 1983, in which they first introduced their mathematical model describing the vulnerability of banks during financial crises.
In 2022, seven former students attendingWashington University in St. Louis alleged that Dybvig sexually harassed them.[9] One of the alumna alleged that Dybvig pulled her onto his lap for a photo, gifted her chocolates, touched her hand while sitting on a couch together, and messaged her on Facebook telling her that he missed her smile. Another student alleged that Dybvig wrapped his hand and fingers around her waist for a photo while not doing the same to a man on his other side in the photo.[10]
