Israel's Minister of Education, Shai Piron, has announced that Prof. Haim Levy of the Hebrew University of Jerusalem will be awarded the Israel Prize for 2014. Levy, the Myles S. Robinson Professor Emeritus at the university's Jerusalem School of Business Administration, will receive Israel's top honor for his innovations in the fields of political science, managerial science and international relations.
Levy is the third Hebrew University professor to win the Israel Prize for 2014. He joins Prof. Jaacov Katan, the Buck Family Professor Emeritus of Plant Pathology at the Hebrew University's Robert H. Smith Faculty of Agriculture, Food and Environment; and Prof. Marta Weinstock-Rosin, a professor emeritus at the Hebrew University's School of Pharmacy - Institute for Drug Research, in the Faculty of Medicine.
The Israel Prize committee described Levy as "one of the central and prominent researchers in managerial science in the world," adding: "He was among the founders of the country's first School of Business Administration at the Hebrew University. He has developed tools and methods for the analysis of decision-making and risk management under uncertain circumstances. He has published 19 books and written over 230 scientific articles, and in the second half of the 20th century he published more articles in his field than any other researcher in the world."
Prof. Levy was born in Jerusalem in 1939. He received his PhD from the Hebrew University in 1969 and in 1976 was promoted to full professorship. He developed a new field of financial economics called Stochastic Dominance, and developed economic models for risk-management, especially risk-reduction in investment, by means of international diversification and mergers and acquisitions. He served as economic advisor to the Bank of Israel; the Israeli Ministry of Finance; Ministry of Industry, Trade and Labor; and Ministry of National Infrastructures, among other government offices. His many awards include the Hebrew University's Prize for Excellence in Research for 1996. The two 1990 Nobel Prize winners in Economics stated that to a large extent their work draws on Prof. Levy's pioneering writings.