The fourth Stephen A. Ross Prize in Financial Economics has been awarded to "Transform Analysis and Asset Pricing for Affine Jump-Diffusions", published in Econometrica in 2000, by Darrell Duffie of Stanford University, Jun Pan of the Massachusetts Institute of Technology, and Kenneth Singleton of Stanford University.


Funded in December 2006 by finance academics and practitioners, the Foundation for the Advancement of Research in Financial Economics (FARFE) is committed to supporting and encouraging fundamental research in financial economics and to facilitating productive interaction between research and practice in finance. To further this mission FARFE has established the Stephen A. Ross prize to be awarded for an important research contribution in financial economics. In the future FARFE plans to establish a FARFE fellowship program and to organize conferences that will bring together scholars and practitioners. In so doing, FARFE will help enhance the quality of the financial industry, which is a driving force of economic growth and an important part of the economy.

Organized as a nonprofit, tax-exempt foundation, FARFE is an independent institution that is not affiliated with any university, association, financial institution or the government.