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Institute Also Names First Six Members of External Advisory Board
BOSTON, December 12, 2006 -- The Fidelity Research Institute today announced the creation of The Pyramid PrizeSM, a $50,000 financial award that will be presented annually to the author(s) of published, applied research that best advances the Institute's goal of helping Americans achieve life-long financial security, whether through new retirement income approaches, innovative healthcare financing strategies or other financial initiatives.
Through the creation of The Pyramid Prize, the Fidelity Research Institute aims to encourage and highlight analyses that support its mission of advancing new theories and better understanding of critical financial issues. It will also inspire action with practical proposed solutions that address the financial challenges facing individuals, institutions and governments. The details and application form were made available on the Institute's Web site at www.fidelityresearchinstitute.com.
"Oftentimes academic research brings innovative thinking, but is seldom implemented," said Guy L. Patton, executive director of the Fidelity Research Institute. "We've developed this award to bring these great ideas to life as well as to spur additional research so that we can further empower individuals to make the right choices as they seek to secure their financial futures."
Criteria for Fidelity Research Institute's Pyramid Prize
Submissions for the Pyramid Prize will be evaluated using the following four criteria:
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Relevance -- How well the research addresses the goal of advancing life-long financial well-being for Americans.
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Significance and practicality -- The potential impact of the presented theories and how practical the proposed actions are.
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Conclusiveness and clarity -- How conclusive the analysis is and how clear the findings are.
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Quality -- The overall quality of the methodology and data sources.
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The Pyramid Prize is open to all research that fits the above criteria and that has been published in widely recognized, peer-reviewed, North American-based journals within the 18 month period prior to the granting of the award each year. Applications will be evaluated by members of the Fidelity Research Institute, who will generate a finalist list for review by a panel of judges from the Institute, and its internal and external advisory boards.
To be considered for the prize, an author must submit the full research paper, a one-page abstract and a one-page essay describing the practical significance of the findings toward improving individual financial security. Submissions for the 2007 Pyramid Prize will be accepted from January 1 through September 3, 2007. The winner will be announced on November 15, 2007, and the award ceremony will take place in early 2008. The winning author(s) will be brought to Boston to present the research to the Fidelity Research Institute and senior Fidelity executives.
Institute Names First Six Advisory Board Members
The Fidelity Research Institute also announced the first six members of its external advisory board, which comprises experts from academia, corporate America, the public sector and financial advisory firms. Joining the board are:
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Dr. Laura Carstensen, professor of Psychology at Stanford University and director of the Stanford Center on Longevity
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Dr. Joseph F. Coughlin, expert on aging and product innovation, founding director of the Massachusetts Institute of Technology AgeLab
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Dr. Jerome Grossman, senior fellow and director of the Kennedy School of Government at Harvard University overseeing its Health Care Delivery Policy program
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Charles Hess, managing partner and president of Inferential Focus and developer of the technique of inference reading
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Dr. Moshe A. Milevsky, associate professor at the Schulich School of Business, York University and executive director of The IFID Centre in Toronto
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Dallas Salisbury, president and chief executive officer of the Employee Benefit Research Institute
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In addition to advising in the selection of the winner of the research prize, the external advisory board will counsel the Institute as it implements activities that will include research, communications and intellectual outreach to academic experts, other research groups, and policy think-tanks. The advisory board of outside experts from various disciplines also will advise the Institute as it issues research reports and organizes seminars on emerging topical issues, meets regularly with other opinion-shaping institutions, and hosts an annual conference designed to showcase emerging ideas and solutions to pressing financial challenges. The Institute anticipates naming a total of 15 members from various disciplines to the advisory board and will announce those individuals once they join.
About Fidelity Research Institute
The Fidelity Research Institute is designed to advance knowledge of how proven investment theory and public policy can be put into practice to help Americans invest wisely to meet their financial needs. The Institute works with resources across Fidelity Investments as well as within the financial services industry and academia to accomplish its mission. Its reports are available at www.fidelityresearchinstitute.com.
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