India-born professor wins award

Silicon Valley Oct. 5. An India-born economics professor at the Massachusetts Institute of Technology is this year's youngest winner of a five-year $500,000 MacArthur Fellowship, known as the `genius grants'.

Sendhil Mullainathan, 29, uses insights from psychology and sociology in his research to better understand the economic behaviour and the functioning of markets. His recent research found that investors tend to have expectations based on their past experiences, and are slow to recognise changing economic conditions even when they're already underway.

In bestowing the award, the John D. and Catherine T. MacArthur Foundation last week praised him for the way he ``invigorates the discipline with fresh and unconventional inquiries into important issues.''

Mr. Mullainathan said he plans to use the grant money to do ``something good,'' perhaps through a nonprofit organisation in India.— PTI

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