Economist Wins Inaugural Award

Marco Castaneda, an assistant professor of economics at Tulane, is the inaugural recipient of the Larry Schloss Prize for Excellence in Economics.

The prize, which recognizes outstanding work by both faculty and students, was endowed by Larry Schloss, chair and CEO of Diamond Holdings and a member of the Board of Tulane. Schloss is a 1976 alumnus of the university who has had a distinguished career in the financial services industry.

Castaneda is an applied microeconomist whose main interests are in the areas of microeconomic theory and industrial organization. His current research investigates the implications of managerial and transaction costs, and incomplete contracts for understanding the organization of production.

Members of the committee on prizes in the economics department said they had an easy time selecting Castaneda for the Schloss Prize. Castaneda has had a successful year, with three publications appearing in prestigious academic journals.

His paper “Does a Hospital's Profit Status Affect its Operational Scope?” (co-written with Dino Falaschetti, professor of law at Florida State University) was selected as the best paper by a young scholar published last year in the Review of Industrial Organization. In the publication, the researchers investigate how the organizational form of a hospital is related to its scope of operations.

Douglas Nelson, professor and chair of economics, said, “In addition to recognizing Marco's accomplishments this year, the presentation of this inaugural prize is a particularly appropriate time for the Department of Economics to express its deep thanks to Larry Schloss for his generous gift. We are proud of all of our graduates, but Larry's accomplishments are truly extraordinary. To crown those accomplishments with this kind of generosity makes him a very special graduate indeed.”