Katharina Pistor, Professor of Law at Columbia University, was awarded the Max Planck Research Award for 2012 on Monday. The press release explains that she won for her "groundbreaking and outstanding research work on legal and financial market developments in emerging markets and transition countries. The award honours, in particular, her research at the intersection of law and economics. The decision to honour Katharina Pistor was also taken in recognition and in the expectation of her continued commitment to building bridges between European and American legal culture."
Martin Hellwig, a German economist, was the other winner. Both will receive €750,000 to advance their research.