Econometrica, Vol. 82, No. 6 (November, 2014), 2397–2403
THE ECONOMETRIC SOCIETY 2013 ANNUAL REPORT OF THE PRESIDENT
1. THE SOCIETY AND ITS ACTIVITIES
THE ECONOMETRIC SOCIETY IS THE LEADING INTERNATIONAL SOCIETY fostering the study and application of quantitative economics. It conducts conferences and seminars and promotes the diffusion of knowledge about recent developments in quantitative economics around the world.
The Society is undergoing transition as it becomes more inclusive and transparent. In his presidential report, Bengt Holmström (2012) chronicled the substantial changes in the rules governing the Society that were agreed on during his term. In 2013, these reforms started to be put in place. The role of the Council in governing the Society has been strengthened; all members (not just Fellows) have been empowered to serve on Regional Standing Committees and to vote on the membership of those committees. The co-optive nature of the appointment of officers that has characterized the Econometric Society since its creation has been attenuated, including a diminished role for past presidents in the nomination of future officers, and in shaping the future course of the society.
Regional associations are starting to implement these reforms. The Executive Committee of the Society remains committed to this transition to democratization
and transparency. Expansion of the society is essential for its continued survival. Trends in real revenues from sales of its journals and other publishing income are slightly downward. Membership in the core regions of Europe and North America has been stagnant since 2005.
The Society has recently opened up a new region for Africa. It has launched an ongoing series of highly successful meetings in China and successful annual summer schools on game theory held in Korea, both under the aegis of the Far Eastern Regional Standing Committee. The China meetings were approved by a unanimous vote of the Executive Committee in January 2011. The Far East has been a growth area and promises to remain so as the Society expands its presence in China.