Malmendier will use the grant to continue her research on the Experience Effect, her theory that financial behavior is influenced by the economic conditions that a person has lived through. The award money-about $5,000-is tied to a specific project. The fellowships are granted on the basis of prior achievement and exceptional promise. The recipients include seven UC Berkeley faculty-more than any other university. Malmendier, was among 173 scholars, artists, and scientists chosen from nearly 3,000 applicants for the award, which is given annually by the John Simon Memorial Guggenheim Foundation. Ulrike Malmendier, a pioneer in the field of behavioral economics, has been named a 2017 Guggenheim Fellow for her research on financial behavior.