American economist Charles Manski has been awarded the BBVA Foundation Frontiers of Knowledge Award in Economics, Finance and Management, now in its eighteenth year, for his pioneering contributions to calculating uncertainty in economic research and its application to public policy analysis. The professor at Northwestern University (Chicago, USA) has been a "key figure," according to the jury's statement, in the development of modern econometric methods. These methods have transformed how economists draw conclusions from data, recognize the degree of uncertainty in their models, and evaluate public policies when evidence is incomplete. Sir Richard Blundell, holder of the David Ricardo Chair of Political Economy at University College London (UK), noted that Manski's work "has revealed some of the erroneous assumptions we economists make that render our predictions and our understanding of behavior quite fragile." "He has taught us to carefully examine the assumptions on which our analyses are based and to ground both our predictions and our understanding of behavior in credible evidence." "He is a great innovator in empirical measurement methods in economics and the social sciences," said Manuel Arellano, Professor of Economics at the Center for Monetary and Financial Studies (CEMFI) of the Bank of Spain and secretary of the jury.