The Royal Economic Society (RES) is pleased to announce that the 2025 Denis Sargan Econometrics Prize has been awarded to Jad Beyhum (KU Leuven) and Elia Lapenta (University of Exeter) for the article ‘One-step smoothing splines instrumental regression’.
The prize-winning paper was published in the May 2025 issue of The Econometrics Journal. You can read the full article Free to View here.
The Prize was awarded for the following reasons:
The article proposes a novel and interesting estimation procedure for nonparametric instrumental variables models. Unlike existing procedures, which involve multiple steps with a choice of tuning parameter in each step, the proposed procedure contains only one step and one tuning parameter. This facilitates its implementation and widens the scope for its application. Indeed, simulations and an application to the estimation of Engel curves demonstrate the procedure’s practical value. Along the way, the article also provides new insights into the structure of nonparametric instrumental variables problems.
Commenting on the award, Jad Beyhum said: “I am very honoured to receive the Denis Sargan Econometrics Prize for this paper. I am particularly grateful to The Econometrics Journal for its strong commitment to publishing and promoting high-quality work by early-career researchers. This project was a real pleasure to work on, and I would also like to warmly thank my co-authors, Elia Lapenta and Pascal Lavergne, for an inspiring and enjoyable collaboration.”
Reflecting on the recognition, Elia Lapenta added: “I am deeply honored to receive the Denis Sargan Econometrics Prize for the paper “One-Step Smoothing Splines Instrumental Regression.” It has been a real pleasure to work on this project with my co-authors, Jad Beyhum and Pascal Lavergne. I am grateful to The Econometrics Journal for this recognition, for supporting young researchers through this prize, and for providing a platform to share our work on a simple and efficient method for nonparametric instrumental variables regressions. This prize also provides meaningful encouragement for our ongoing and future research efforts.”
The senior coauthor of the Prize-winning article, Pascal Lavergne (Toulouse School of Economics), reported that the article would not exist without the contributions of Jad and Elia and that both made equal and large contributions to it.
“It brings me immense joy to see our joint work with my junior colleagues recognized by the Royal Economic Society and the Econometrics Journal. This achievement would not have been possible without the outstanding contributions and collaborative spirit of my co-authors—the paper truly owes its existence to them. I also wish to express my deepest gratitude to the editorial board of the Econometrics Journal for their rigorous, constructive, and remarkably efficient handling of our submission,” he said.
The Prize is awarded for the best unsolicited article published in The Econometrics Journal in a given year by anyone who is within five years of having received their doctorate. The Prize may be awarded for articles coauthored with senior researchers, provided that the junior author(s) contributed at least equally. In those cases, the Prize is only given to the eligible, junior author(s).
The 2025 Denis Sargan Econometrics Prize will be presented to Jad Beyhum and Elia Lapenta during the gala dinner of the annual Royal Economic Society Conference at Newcastle University (6-8 July).
The Denis Sargan Econometrics Prize commemorates the fundamental contributions to and profound influence on econometrics made by (John) Denis Sargan.