{{short description|Economist}} {{Infobox scientist |name = Patrick Bolton |image = Patrick Bolton at National Bank of Belgium panel.jpg |caption = Bolton speaks in 2018 |birth_date = {{Birth date and age|1957|06|11}} |birth_place = Dublin, Ireland |death_date = |death_place = |workplaces = Columbia Business School, Imperial College London and others |field = Economics |alma_mater = University of Cambridge, Institut d'Etudes Politiques de Paris, London School of Economics }}
'''Patrick Bolton''' (born June 11, 1957, Dublin, Ireland) is the Barbara and David Zalaznick Professor of Business at Columbia Business School (2005–present)<ref name="Columbia"/> and a visiting professor of finance at Imperial College London (2018–present). He is a past president of the American Finance Association (2015).<ref>{{cite news |title=Committee on Global Thought |url=https://cgt.columbia.edu/news/patrick-bolton-elected-president-of-the-american-finance-association/ |access-date=9 February 2022 |work=CU Global Thought}}</ref><ref>{{cite web |title=Past Presidents |url=https://afajof.org/past-presidents/ |website=The American Finance Association |access-date=9 February 2022}}</ref>
Bolton specializes in contract theory and its relationship to corporate finance and industrial organization, in particular the allocation of control and decision rights to contracting parties.<ref name="Columbia"/> He is studying the ways in which institutional investors and financial markets assess and respond to risks from climate change,<ref>{{cite journal |last1=Adrian |first1=Tobias |last2=Bolton |first2= Patrick |last3=Kleinnijenhuis |first3= Alissa |title=The Great Carbon Arbitrage |journal=International Monetary Fund |date=1 June 2022 |volume=Working Paper No. 2022/107 |url=https://www.imf.org/en/Publications/WP/Issues/2022/05/31/The-Great-Carbon-Arbitrage-518464}}</ref> and how public policy influences corporate behaviour and the actions of institutions.<ref name="Brown">{{cite journal |last1=Brown |first1=Eryn |title=Now is the time to prepare for the economic shocks of battling climate change |journal=Knowable Magazine |date=30 September 2021 |doi=10.1146/knowable-093021-1 |url=https://knowablemagazine.org/article/food-environment/2021/cost-of-climate-change |doi-access=free |access-date=9 February 2022|url-access=subscription }}</ref><ref name="CEPR"/><ref name="Po">{{cite news |title="It is time for economists to get into the picture" Patrick Bolton, prof. at Columbia University, on climate change debate |url=https://www.sciencespo.fr/en/news/news/%E2%80%9Cit-time-economists-get-picture%E2%80%9D-patrick-bolton-prof-columbia-university-climate-change-debate/1357 |access-date=9 February 2022 |work=Sciences Po |date=June 15, 2015 |language=en}}</ref>
Bolton has published a number of books, including ''Contract Theory'' (2004) with Mathias Dewatripont, ''Credit Markets for the Poor'' (2005) with Howard Rosenthal, ''The Economics of Contracts'' (2008), ''Sovereign Wealth Funds and Long-term Investing'' (2012) with Frederic Samama and Joseph E. Stiglitz and ''Coping with the Climate Crisis: Mitigation Policies and Global Coordination'' (2018), with Rabah Arezki, Karim El Aynaoui and Maurice Obstfeld.<ref name="Insider">{{cite web |title=Patrick Bolton - Insider |url=https://www.businessinsider.com/author/patrick-bolton |website=Business Insider |access-date=9 February 2022}}</ref>
==Early life and education== Bolton was born on June 11, 1957, in Dublin, Ireland and holds dual French and American nationality.<ref name="LOC">{{cite web |title=Bolton, Patrick, 1957 |url=https://lccn.loc.gov/nr2003008292 |website=Library of Congress Authorities |access-date=9 February 2022}}</ref> Bolton has a BA in economics from the University of Cambridge and a BA in political science from the Institut d'Etudes Politiques de Paris. He earned his PhD from the London School of Economics in 1986.<ref name="Columbia"/>
==Career== Bolton was an assistant professor at the University of California at Berkeley and then joined the economics department at Harvard University (1987–1989). He worked at the C.N.R.S. Laboratoire d' Econométrie de L' Ecole Polytechnique (1989–1991), and was the Cassel Professor of Money and Banking at the London School of Economics (1991–1994). He worked at the Institut d'Etudes Europénnes de l'Université libre de Bruxelles (1994–1998). He was the John H. Scully '66 Professor of Finance and Economics at Princeton University (1998–2005).<ref name="Columbia"/>
Bolton joined the Columbia Business School as the Barbara and David Zalaznick Professor of Business in July 2005.<ref name="Columbia">{{cite web |last1=School |first1=Columbia Business |title=Patrick Bolton |url=https://www8.gsb.columbia.edu/cbs-directory/detail/pb2208 |website=Columbia Business School Directory |access-date=9 February 2022 |language=en |date=15 September 2014}}</ref> In 2018, he became a visiting professor of finance at Imperial College London.<ref name="CV">{{cite web |last1=Bolton |first1=Patrick |title=Curriculum Vitae |date=2019 |url=https://www.imperial.ac.uk/people/p.bolton |website=Imperial College London |access-date=9 February 2022}}</ref><ref name="EAERE">{{cite news |title=EAERE Award for ERC Grants Laureates in the field of environmental and resource economics 2021 |url=https://www.eaere.org/eaere-award-for-erc-grants-laureates-in-the-field-of-environmental-and-resource-economics-2021/ |access-date=9 February 2022 |work=European Association of Environmental and Resource Economists (EAERE) |date=2021}}</ref><ref name="CEPR">{{cite news |title=Patrick Bolton and Mar Reguant Rido awarded the EAERE Award for ERC Grants Laureates in the field of environmental and resource economics |url=https://cepr.org/content/patrick-bolton-and-mar-reguant-rido-awarded-eaere-award-erc-grants-laureates-field |access-date=9 February 2022 |work=Centre for Economic Policy Research |date=May 20, 2021}}</ref>
==Awards== * 2021, EAERE Award for ERC Grants Laureates in the field of environmental and resource economics, European Association of Environmental and Resource Economists (EAERE) * 2018, Louis Bachelier Fellow<ref>{{cite web |title=Researchers |url=https://www.institutlouisbachelier.org/en/research-en/researchers/ |website=Institut Louis Bachelier |access-date=9 February 2022}}</ref> * 2016, Fellow, American Finance Association<ref>{{cite web |title=Fellows |url=https://afajof.org/fellows/ |website=The American Finance Association |access-date=9 February 2022}}</ref> * 2013, Corresponding Fellow, British Academy<ref>{{cite news |title=Professor Patrick Bolton FBA |url=https://www.thebritishacademy.ac.uk/fellows/patrick-bolton-FBA/ |access-date=9 February 2022 |work=The British Academy |language=en}}</ref> * 2009. Fellow, American Academy of Arts and Sciences<ref name=AAAS>{{cite web|title=Book of Members, 1780–2010: Chapter B |url=https://www.amacad.org/sites/default/files/academy/multimedia/pdfs/publications/bookofmembers/ChapterB.pdf |publisher=American Academy of Arts and Sciences|access-date=May 20, 2011}}</ref> * 1993, Fellow, Econometric Society<ref name="Econometrica">{{cite journal |title=1993 Election of Fellows to the Econometric Society |journal=Econometrica |date=1994 |volume=62 |issue=3 |pages=721–725 |jstor=2951670 |url=https://www.jstor.org/stable/2951670 |access-date=9 February 2022 |issn=0012-9682}}</ref>
==References== {{Reflist}}
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{{DEFAULTSORT:Bolton, Patrick}} Category:1957 births Category:Living people Category:21st-century American economists Category:Columbia Business School faculty Category:Alumni of the University of Cambridge Category:Alumni of the London School of Economics Category:Sciences Po alumni Category:Fellows of the Econometric Society Category:Fellows of the American Academy of Arts and Sciences Category:20th-century American economists Category:Financial economists Category:Industrial organization economists