World-leading academics recognised with presentation of Onassis Prizes 2023

More than 350 esteemed guests, including ambassadors, leading academics and senior figures from the world of finance, international trade and shipping, gathered on Tuesday 7 November at the Guildhall in the City of London to celebrate the academic achievements of this year’s Onassis Prize laureates.

The Onassis Prizes 2023 were awarded to Professor Darrell Duffie, Professor Marc Melitz, and Professor Siri Pettersen Strandenes at the Banquet for their contributions and achievements in the fields of Finance, International Trade and Shipping respectively.

• Professor Darrell Duffie, Stanford University, Onassis Prize 2023 in Finance
• Professor Marc Melitz, Harvard University, Onassis Prize 2023 in International Trade
• Professor Emerita Siri Pettersen Strandenes, Norwegian School of Economics, Onassis Prize 2023 in Shipping

The event, jointly hosted by Dr Anthony S. Papadimitriou, President of the Onassis Foundation; Professor Sir Anthony Finkelstein CBE, President of City, University of London; Professor André Spicer, Dean of Bayes Business School; and Professor Costas Th. Grammenos CBE, Chairman of the Costas Grammenos Centre for Shipping, Trade and Finance, in cooperation with the City of London, welcomed academics and leading figures from each of the Prize categories to celebrate as the 2023 laureates were awarded their prestigious accolades and accompanying $200,000 grant each.

The Onassis Prize 2023 in Shipping was presented by The Rt. Hon. Vice Admiral Lord Sterling GCVO, CBE, RNR, the Onassis Prize 2023 in International Trade by Professor Elhanan Helpman, Galen L. Stone Professor of International Trade, Harvard University, and the Onassis Prize 2023 in Finance by The Earl of St Andrews.

The evening featured speeches from Professor Sir Anthony Finkelstein CBE, Professor Grammenos CBE, Dr Anthony S. Papadimitriou, and Alderman Alastair King, to name just a few, all against the breathtaking backdrop of the historic grade 1 listed landmark of the City of London’s Guildhall.

At the start of the Banquet, Professor Sir Anthony Finkelstein welcomed the guests to the Guildhall. Professor Spicer also proposed a toast to the Onassis Foundation and the guests, which was responded to by Dr Papadimitriou, who then proposed a toast to City, University of London, Bayes Business School and the Costas Grammenos Centre for Shipping, Trade and Finance. Dr Papadimitriou’s toast was then responded to by Professor Sir Anthony Finkelstein.

Dr Anthony S. Papadimitriou, President of the Onassis Foundation and Chair of the Onassis Prizes judging panel, said: “We at the Foundation are thrilled to have celebrated our prestigious Laureates at the beautiful location of London’s Guildhall, surrounded by such a wonderful array of distinguished guests. Looking around the room, it gave me great pleasure to see such talented visionaries all coming together to discuss and work towards solving some of the biggest challenges of our time. I would like to congratulate our laureates – you are an inspiration to so many and, now more than ever, we must focus on the importance of academia to tackle what lies ahead.”

(From left to right) Professor Siri Pettersen Strandenes, Professor Marc Melitz and Professor Darrell Duffie with their Onassis Prizes 2023

Professor Siri Pettersen Strandenes, Norwegian School of Economics (Onassis Prize 2023 in Shipping), said: “Without a challenging and inspiring exchange of thoughts and ideas with co-authors and colleagues, I would not stand here today. I thank members of the Onassis Prizes committee and Dr Anthony Papadimitriou. I am honoured to receive the Onassis Prize in Shipping for 2023 and would like again to express my gratitude.”

Professor Marc Melitz, Harvard University (Onassis Prize 2023 in International Trade), said: “There’s a metaphor for making progress in academic research that acknowledges the fundamental contributions we rely upon to make our own following contributions: standing on the shoulders of giants. This is such an amazing honour and I am deeply humbled. Thank you to the Onassis Foundation for this award.”

Professor Darrell Duffie, Stanford University (Onassis Prize 2023 in Finance), said: “I am deeply humbled to accept the Onassis Prize in Finance for 2023.  Much like the guilds that established this Guildhall, academia is a guild and has been for centuries and to celebrate with you in this incredibly remarkable venue, scholarship of this nature is truly an honour.”

Professor Costas Th. Grammenos said: “The Onassis Prizes are a major international event, and the results are not only academic, but they also inform industry and practice. I warmly congratulate the three Onassis Prize Laureates whose distinguished achievements have profoundly influenced their disciplines and continue to have an impact on academic thinking and business conduct worldwide.”

Professor Sir Anthony Finkelstein said: “I would like to extend my thanks to the Onassis Foundation on behalf of City, Bayes and the Centre. It was an extraordinary pleasure to share the evening with our guests from across the globe. Oxford and Cambridge have dreaming spires and elegant halls, but we at City have our relationship with the City of London and hence the Guildhall. I would also like to offer my thanks to all of those who were involved in the practical organisation of this wonderful event.”

Judged by a panel of esteemed academics from around the world, including two Nobel Laureates, the Prizes are jointly awarded every three years by the Onassis Foundation, Bayes Business School and its Costas Grammenos Centre for Shipping, Trade and Finance, and the City of London.

Established in 1978 by Aristotle Onassis's hand-written will, the Onassis Prizes have a proud history strengthened by decades of passion, thought, and rigour. The Prizes are awarded in the aforementioned sectors as they are the areas in which Aristotle himself achieved international renown during his lifetime.