Xavier Gabaix French economist Date of Birth: 08.1971Год Country: France

Biography of Xavier Gabaix

Xavier Gabaix is a French economist and Professor of Finance at the Stern School of Business at New York University. He is recognized as one of the top eight young economists in the world according to 'The Economist'. His current research focuses on pricing, behavioral economics, and macroeconomics.

Gabaix completed his Master's degree in Mathematics at the renowned Ecole Normale Supérieure in France. He later obtained his Ph.D. in Economics from Harvard University. He served as an assistant professor of economics at the Massachusetts Institute of Technology for some time.

Known for his unconventional approach, Gabaix has conducted a series of notable studies in various areas of financial economics. He has examined the salary levels of corporate executives and the behavioral decision-making and its impact on the market. His research often incorporates models based on the tail parts of probability distribution graphs, leading to unexpected and innovative findings.

In 2010, Gabaix was awarded the Bernacer Prize, which is given annually to the most talented European financiers under the age of 40 who conduct research in macrofinancial flows. He received this award for his contributions to the development of financial and behavioral economics, including his analysis of seemingly unpredictable behavior in the securities market and the study of executive salaries in large corporations. In 2011, he was also honored with the Fischer Black Prize by the American Finance Association, recognizing his outstanding work in economics and related fields.

While most of Gabaix's research is highly specialized and appealing to experts in economic theory, there are exceptions. In 2007, together with John Driscoll, David Lebson, and Sumit Agarwal, Gabaix analyzed the statistics of credit usage among different age groups in the United States. Their findings revealed that individuals between the ages of 35 and 40 tend to make the most optimal credit decisions, while 25-year-olds and 68-year-olds make the least advantageous choices.