Economists Andreu Mas-Colell (Barcelona, 1944) and Hugo Sonnenschein (New York, 1940) share the BBVA Foundation Frontiers of Knowledge Award in Economics, Finance and Management for extending the reach and applicability of general equilibrium analysis and for establishing the modern theory of aggregate demand. According to the jury’s citation, their work has helped achieve better models for the overall behavior of the economy, and particularly to interpret and empirically measure consumer behavior.
