 The award was named in honor of Ragnar Frisch, first co-recipient of the Nobel prize in economics and editor of "Econometrica" from 1933 to 1954.In the opinion of Rich Jensen, Gilbert F. Schaefer Professor of Economics and chairperson of the Department of Economics of the University of Notre Dame, "The Frisch medal is not only one of the top three prizes in the field of economics, but also the most prestigious 'best article' award in the profession".Five Frisch medal winners have also won the Nobel Prize.