He is Chairman of the academic council of the Fung Global Institute. He serves on the boards of Genpact and Mercadolibre, and numerous private companies. He is a member of the board of directors of Stanford Management Company, and the International Chamber of Commerce Research Foundation. He is a Senior Advisor to Oak Hill Investment Management and a consultant to PIMCO. He was awarded the John Kenneth Galbraith Prize for excellence in teaching and the John Bates Clark medal for a “significant contribution to economic thought and knowledge.” From 1984 to 1990, he served as Dean of the Faculty of Arts and Sciences at Harvard. He holds a BA in Philosophy from Princeton University (1966), a BA/MA in Mathematics from Oxford University (1968), and a PhD in Economics from Harvard University (1972).