<p>Jonathan Levin, 38, has been awarded the 2011 John Bates Clark Medal, an annual prize given to the most promising economist under 40.</p>
<p>Mr. Levin, a professor at Stanford, studies industrial organization, in particular how people and institutions contract with each other. His latest research has focused on a number of issues relevant to public policy, including college early admissions programs, subprime loans, health insurance and Internet markets.</p>
<p>He received his Ph.D. in Economics from M.I.T., an M.Phil. in economics from Oxford University and undergraduate degrees in math and English from Stanford.</p>
<p>The Clark Medal is often referred to as the Baby Nobel because so many of the recipients of this prestigious award have gone on to receive the Nobel memorial prize in economics, including Paul Krugman, Joseph Stiglitz and Milton Friedman.</p>