ARES awards inaugural Michael J. Seiler Behavioral Research Commendation Award to William N. Goetzmann
The Raymond A. Mason School of Business at William & Mary proudly announces the presentation of the inaugural Michael J. Seiler Behavioral Research Commendation to William N. Goetzmann, a globally recognized scholar whose prolific contributions have significantly advanced the field of behavioral real estate and adjacent domains.
Established to honor a scholar who has published a substantial body of behavioral-related research in real estate or closely affiliated topics in top academic journals over a sustained period, the award seeks to spark broader interest and innovation in the field—particularly from those outside its traditional boundaries.
The commendation is named in honor of Michael J. Seiler, John and Yvonne Whitcomb Endowed Chair Professor of Finance and Real Estate at the Raymond A. Mason School of Business and a former president of the American Real Estate Society. Seiler is widely credited with helping shape the academic foundation of behavioral real estate.
"It's a tremendous honor to have this award named after me. I'm eager to see it drive forward research in behavioral real estate, a field to which I have dedicated much of my career," Seiler shared.
Dean Todd Mooradian also emphasized the importance of the commendation in furthering academic excellence at William & Mary. "We are thrilled to see this commendation honor Professor Seiler's influential work. It represents not just a tribute to his legacy but also an encouraging milestone for future researchers in behavioral real estate," Mooradian said.
Dr. Goetzmann, the Edwin J. Beinecke Professor of Finance and Management Studies at the Yale School of Management and Faculty Director of the International Center for Finance, was recognized for his long-standing and diverse scholarly work. His research spans stock market predictability, hedge funds, factor investing, behavioral finance, and the art market, with numerous publications in the field's most prestigious journals. In addition to his academic contributions, Goetzmann is a celebrated author whose books include Money Changes Everything: How Finance Made Civilization Possible and The Origins of Value: The Financial Innovations that Created Modern Capital Markets.
Among his accolades are the CFA Institute's James R. Vertin Award for enduring research value and the Jack Treynor Prize for superior academic work in investment management. Goetzmann has served as president of both the Western and European Finance Associations, reflecting his global impact on the discipline.
“Dr. Goetzmann has published behavioral studies in all the top journals over several decades. He is a humble scholar and a consummate gentleman. I cannot think of a more deserving winner of the inaugural award” says Seiler.
Further highlighting the collaboration between Seiler and Goetzmann, the two scholars—alongside Nobel Laureate Robert J. Shiller—are co-authors on a current working paper titled "Information and Housing Expectations." This collaboration also includes contributions from William M. Doerner (FHFA) and Annie K. Thompson (MIT), highlighting the caliber and interdisciplinary reach of contemporary behavioral real estate research.
The Raymond A. Mason School of Business will also host the 2025 W&M Real Estate Research Symposium this week, May 12–13. The symposium will convene leading academics and professionals to discuss emerging research and foster collaboration across various real estate-related disciplines.
The Mason School invites scholars, industry experts, media, and students to join this vibrant exchange of ideas as it continues to support and elevate the future of behavioral real estate research.
For more information on the Michael J. Seiler Behavioral Research Commendation, visit ARES.
About the American Real Estate Society
The American Real Estate Society (ARES) is the leading global real estate research and education organization with a mission to provide real estate thought leadership and bridge research and practice. To accomplish this mission, the entrepreneurial leadership of ARES over the past 40 years has developed six real estate journals, a special topics monograph series, an extensive newsletter, and annual fall and spring conferences. ARES, home to over 1,400 members, is managed by an all-volunteer team and has been instrumental in originating and developing seven affiliate regional real estate "sister" societies representing every continent throughout the world.