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		Stanley Fischer named Distinguished Fellow of the American Economic Association Professor Emeritus Stanley Fischer has been named a Distinguished Fellow of the American Economics Association. The Award of Distinguished Fellow was instituted in 1965. Past presidents of the Association shall be Distinguished Fellows. Additional Distinguished Fellows may be elected, but not more than four in any one calendar year from economists of high distinction in the United States and Canada. Professor Fischer joins Professor Jerry Hausman and Professor Emeritus Paul Joskow as 2013 recipients of the Award of Distinguished Fellow.

		Featured Research: New insight into how people choose insurance plans Economists often talk about "moral hazard," the idea that people�s behavior changes in the presence of insurance. In finance, for instance, investors may take more risks if they know they will be bailed out, the subject of ongoing political controversy. When it comes to health insurance, the existence of moral hazard is a more matter-of-fact issue: When people get health insurance, they use more medical care, as shown by research including a recent randomized study on the impact of Medicaid, which MIT economist Amy Finkelstein helped lead.

		Esther Duflo selected as one of five recipients of the 2013 Dan David Prize Professor Esther Duflo and physician Alfred Sommer will share the 2013 Dan David prize for the "future" dimension, for breakthroughs that hold great promise for the world's improvement. The Dan David Prize recognizes and encourages innovative and interdisciplinary research that cuts across traditional boundaries and paradigms. It aims to foster universal values of excellence, creativity, justice, democracy and progress and to promote the scientific, technological and humanistic achievements that advance and improve our world. The prizes are granted to individuals or institutions with proven, exceptional, distinct excellence in the sciences, arts, and humanities that have made an outstanding contribution to humanity on the basis of merit, without discrimination of gender, race, ethnicity, color, religion, language, nationality, disability, or political affiliation. (Photo © Patrick Imbert)

		Anna Mikusheva selected as an Alfred P. Sloan Research Fellow Dr. Anna Mikusheva has received an Alfred P. Sloan Research Fellowship. The Sloan Research Fellowships seek to stimulate fundamental research by early-career scientists and scholars of outstanding promise. These fellowships are awarded yearly to researchers in recognition of distinguished performance and a unique potential to make substantial contributions to their field.

		David Donaldson selected as an Alfred P. Sloan Research Fellow Dr. David Donaldson has received an Alfred P. Sloan Research Fellowship. The Sloan Research Fellowships seek to stimulate fundamental research by early-career scientists and scholars of outstanding promise. These fellowships are awarded yearly to researchers in recognition of distinguished performance and a unique potential to make substantial contributions to their field.

		Featured Research: Happiness on Tap: Piped Water Adoption in Urban Morocco A new field experiment, co-authored by MIT economist Esther Duflo, shows just how much access to clean water matters to people. Residents of Morocco, the experiment demonstrates, are willing to take out loans and pay twice as much for water per month in order to have it piped into their homes. And despite the dent in their bottom-line finances, people in households that gain running water report significant improvements in well-being and happiness.

		President Obama announces intent to appoint Esther Duflo to Global Development Council President Barack Obama has announced he intends to appoint MIT Professor Esther Duflo to the President's Global Development Council. Duflo is the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics, and a founder and director of the Abdul Latif Jameel Poverty Action Lab (J-PAL).

		The Natural Experimenter MIT economist Josh Angrist's meticulous methods have influenced scholars for two decades. Now he's zeroing in on what makes some schools better than others.

		Featured Research: The health-insurance markets of the (very near) future An online health-insurance exchange is coming to your state. How effective will it be? That is an increasingly important question in the United States. In June 2012, the Supreme Court upheld the legality of the country's Affordable Care Act, passed by Congress and signed into law by President Barack Obama in 2010. The program mandates private-sector health insurance for all citizens, and provides subsidies for those who otherwise could not afford it. Insurance-plan choices will be available through exchanges, or marketplaces; most people will be able to study plans and sign up for one online. As of December, nearly 20 states have elected to run exchanges themselves; the federal government will run the exchanges in other states.

		Bengt Holmstrom Named AFA Fellow Bengt Holmstrom has been named a Fellow of the American Finance Association. The designation of Fellow recognizes distinguished and sustained contributions to the field of Finance. Professor Holmstrom's research has made fundamental contributions to our understanding of incentives, the theory of the firm, corporate governance, liquidity, and financial crises.

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