In 2013, separately from the annual prize, Kenneth J. Arrow was given the Honorary John von Neumann Award.
The students select the nominees and vote for the prize-winner in the Assembly of the College after a review and debate regarding the pre-selected names.
Most of the recipients of the award have been academics working in some branch of economics - an exception is the philosopher and political theorist Jon Elster.
Multiple recipients, such as Jean Tirole, Esther Duflo, and Joshua Angrist were subsequently awarded the Nobel Prize in Economics.
Source: Rajk László College of Advanced Studies 1 Received honorary prize.