Canadian economist joins faculty

Larry Epstein, an expert in economic theory who was a distinguished professor at the University of Toronto, has been appointed professor of economics.

Most recently, Epstein lived abroad as a visiting professor at Hong Kong University of Science and Technology.

A native of Canada, Epstein received his bachelor of science degree in mathematics at the University of Manitoba, a master's degree in mathematics from Hebrew University in Jerusalem, and a doctorate in economics from the University of British Columbia. Since 1977, he has taught at Toronto.

His areas of specialization are mathematical economics, utility theory, and economic theory. Epstein is a fellow of the Econometric Society and of the Royal Society of Canada. He was awarded the Econometric Society's Frisch Medal in 1994, as well as the John Rae Award for outstanding research that same year from the Canadian Economics Association.

Epstein is the author of more than 40 articles and papers in academic and professional journals. He also is an associate editor for five journals of economics.

His current research centers on the meaning of "ambiguity," its distinction from "risk," and its role in asset markets.