Philip Hallen Dybvig (born May 22, 1955) is an American economist. He is the

Boatmen's Bancshares Boatmen's Bancshares Inc. was one of the 30 largest bank holding company, bank holding companies in the United States when it was acquired by NationsBank in 1996. Until its acquisition, Boatmen's traded on NASDAQ with the ticker BOAT. The company, ...

Professor of Banking and Finance at the

Olin Business School The Olin Business School is one of seven academic schools at Washington University in St. Louis. Founded in 1917, the business school was renamed for entrepreneur John M. Olin in 1988. The school offers BSBA, Master of Business Administration (M ...

Washington University in St. Louis Washington University in St. Louis (WashU or WUSTL) is a private research university with its main campus in St. Louis County, and Clayton, Missouri. Founded in 1853, the university is named after George Washington. Washington University is r ...

Career

Dybvig specializes in asset pricing, banking, investments, and

corporate governance Corporate governance is defined, described or delineated in diverse ways, depending on the writer's purpose. Writers focused on a disciplinary interest or context (such as accounting, finance, law, or management) often adopt narrow definitions ...

. He was formerly a professor at

Yale University Yale University is a private research university in New Haven, Connecticut. Established in 1701 as the Collegiate School, it is the third-oldest institution of higher education in the United States and among the most prestigious in the wo ...

, and assistant professor at

Princeton University Princeton University is a private university, private research university in Princeton, New Jersey. Founded in 1746 in Elizabeth, New Jersey, Elizabeth as the College of New Jersey, Princeton is the List of Colonial Colleges, fourth-oldest ins ...

. Dybvig was president of the

Western Finance Association The Western Finance Association (WFA) is an international professional society for academicians and practitioners with a scholarly interest in the development and application of research in finance. Its purpose is: *to serve as a focal point for ...

from 2002 to 2003, and was director of the Institute of Financial Studies at

Southwestern University of Finance and Economics The Southwestern University of Finance and Economics (SWUFE; ) is a public research university in Chengdu, Sichuan, China. The university is affiliated to the Ministry of Education, and co-funded by the ministry and the Sichuan Provincial Peopl ...

(

Chengdu Chengdu (, ; Simplified Chinese characters, simplified Chinese: 成都; pinyin: ''Chéngdū''; Sichuanese dialects, Sichuanese pronunciation: , Standard Chinese pronunciation: ), Chinese postal romanization, alternatively Romanization of Chi ...

PRC China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

) from 2010 to 2021. He has been editor or associate editor of multiple journals, including the ''Journal of Economic Theory'', ''Finance and Stochastics'', ''Journal of Finance'', ''Journal of Financial Intermediation'', ''Journal of Financial and Quantitative Analysis'', and ''Review of Financial Studies''.Philip H. Dybvig: Curriculum vitae
/ref> Dybvig is known for his work with

Douglas Diamond Douglas Warren Diamond (born October 25, 1953) is an American economist. He is currently the Merton H. Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business, where he has taught since 1979. Diamond ...

on the

Diamond–Dybvig model The Diamond–Dybvig model is an influential model of bank runs and related financial crises. The model shows how banks' mix of illiquid assets (such as business or mortgage loans) and liquid liabilities (deposits which may be withdrawn at any t ...

of bank runs. Dybvig was awarded the 2022

Nobel Memorial Prize in Economic Sciences The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered ...

, jointly with Diamond and Ben Bernanke, "for research on banks and financial crises". Dybvig and Diamond wrote “Bank Runs, Deposit Insurance, and Liquidity” in 1983, in which they first introduced their mathematical model describing the vulnerability of banks during financial crises.

Alleged sexual misconduct

In October 2022, Dybvig was anonymously accused of sexual harassment by several Chinese women attending Washington University’s Olin School of Business, where Dybvig works as a professor. He is on absentee leave until July 2023. Dybvig's lawyer has denied the allegations. Bloomberg News reported that he called one of the students "tián mèizi" (甜妹子), meaning "sweet young girl" and gave her gifts of chocolate. The encounters led the Chinese female students to warn each other about him.

References

External links

Faculty webpage at the Olin Business School, Washington University

Multiple Equilibria
Nobel Prize lecture, 8 December 2022 * 1955 births 21st-century American economists Living people Nobel laureates in Economics Washington University in St. Louis faculty Yale University faculty 20th-century American economists American Nobel laureates Academic staff of the Southwestern University of Finance and Economics {{US-economist-stub nds:Philip Hallen Dybvig