Koichiro Ito Awarded Prestigious Jiro Enjoji Memorial Prize for Economics

Koichiro Ito, a professor at the Harris School of Public Policy, was awarded the 7th Jiro Enjoji Memorial Prize. The prize, sponsored by The Nikkei and the Japan Center for Economic Research, is given every three years to two outstanding young or mid-career economists for their achievements in economic theory and their promising future in the field. The prize was named after newspaper executive Jiro Enjoji, former president of The Nikkei and the first president of the Japan Center for Economic Research.

Chairman of the Japan Center for Economic Research Kazumasa Iwata, who was a member of the selection committee, said that Ito’s research has been influential in providing economic strategies for tackling energy and environmental issues in the U.S., China, Chile and Japan.

“He is a cutting-edge researcher who has conducted world-class research on environmental policy, energy and electricity policy,” Iwata said of Ito.“Professor Ito is not just a researcher, but is also active in a wide range of fields, and we commend him for this.” Iwata cited Ito’s 2023 field experiment in Yokohama, Japan that studied participation in voluntary dynamic electricity pricing programs. “It is expected that  time-varying, dynamic pricing will be introduced in the [Japanese] electricity market,” according to Iwata.

He also cited Ito’s 2022 study on the effects of market integration on renewable energy expansion in Chile. In that study, Ito found that a larger electricity grid increases renewable energy investments and reduces average electricity costs, with added  environmental and health benefits.

In addition to his research, Iwata mentioned Ito’s book, “The Power of Data Analysis: How to Approach Causality,” winner of the Nikkei Prize for Best Economics Book in 2017. It is widely used as an introductory book to data analysis and as an undergraduate textbook, according to Iwata.

“I am very honored to receive this prize, which was created after Jiro Enjoji, who was an entrepreneur in Japanese journalism history,” Ito said. “Receiving this prize is really encouraging to let me continue ongoing and future research projects in energy and environmental economics, and I hope my research could be helpful in the design of climate and energy policy.”