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Robert Waldmann Obituary
He graduated from Harvard University in 1982 with a major in biology and earned a Master's in biology from MIT. Renowned among peers for his intellect and curiosity, he completed a Ph.D. in Economics at Harvard advised by Larry Summers Ph.D and Larry Katz Ph.D. In Boston, he met his Italian wife, economist Prof.Elisabetta Addis Ph.D, to whom he was married for 33 years until her passing in 2020.
He became the youngest lecturer at the European University Institute in Florence (1989–1997), later held posts at IGIER (Bocconi) and the University of Chieti-Pescara, before joining the University of Rome "Tor Vergata" as Professore Associato and later Professore Ordinario in the Department of Economics and Institutions.
His research appeared in top journals, including the Quarterly Journal of Economics, Journal of Political Economy, Journal of Finance, and Journal of Econometrics. A pioneer in behavioral finance, his widely cited 1990 paper "Noise Trader Risk in Financial Markets" (with DeLong, Shleifer, and Summers) helped launch the field of behavioral finance challenging the efficient markets hypothesis. He also explored inequality's impact on health, critiqued international student assessments, and argued that even inefficient government spending via capital taxation could support growth.
Robert dedicated his life to thinking "stochastically" and supervising generously, while never seeking status for its own sake. A wide-ranging researcher, he bridged macroeconomics, public finance, and econometrics with creativity and rigor. He was a deeply appreciated mentor known for his supportive altruism, and integrity. He inspired generations of students and championed unconventional ideas.
Beyond academia, he was a public intellectual, blogging for Angry Bear on everything from politics to microbiology. Guided by a strong moral compass, he'll be remembered for his sense of humour, keen intellect, and vast knowledge.
Many saw in him a curious, principled, and generous soul. He believed in wealth redistribution, democracy, and the joy of exchanging ideas, from the Roman Empire to T-cell autophagy. His unique perspective and thirst for knowledge will be deeply missed.
But, for Robert, family came first. As a father, he was always available, ready to explain everything from the Big Bang to mitochondria. He was the best biology teacher ever. He stayed home with Marina and Thomas while Elisabetta traveled for work. He adored his children and had a lot of trouble saying no. His way of participating in improbable activities, like eating invisible meals at the table in the woods of Fiesole, or singing the same songs over and over in the garage dressed like space astronauts in Frascati, was uniquely his.
When they were children he told stories to his sister Carol for innumerable hours, some of his own or never leaving out any details of the Labors of Hercules or the Lord of the Rings. He had a child-like enthusiasm for so many things leading to his role as the "fun uncle" whether it was flying drones, playing basketball, poker or Exploding Kittens, exploring nature or sailing on the wooden sailboat the Caterina Madre in Stintino on Sardinia, he was all in.
Robert put others before himself. He loved his wife profoundly and cared for her during her illness with a silent but unbearable pain. He stayed many nights in the hospital with Thomas after his accident, and called his parents weekly while abroad. He discussed science with his father, who then put some of his theories into action. He was deeply affected by the deaths of his parents.
He supported his siblings deeply and was always generous with his time. He had an amazing memory which at times was a curse more than a blessing. It allowed him to share remembrances with his family and friends and contributed to his encyclopedic knowledge.
He is survived by his cherished children, Marina Addis Waldmann and Thomas Waldmann; his brother Richard Waldmann and wife Janet; his sister Carol Waldmann and husband Johnny Carrera, who cared for him to the end; and three nephews and two nieces.
A celebration of his life will be held on Saturday, July 5, 2025, at Pumphrey Funeral Home, 7557 Wisconsin Ave, Bethesda, MD. Viewing will begin at 11 a.m., service at 12 p.m. The service will be livestreamed on www.pumphreyfuneralhome.com
Robert supported the "Top Charities Fund" of GiveWell which backs evidence-based programs worldwide. To donate in his honor: www.givewell.org
To plant trees in memory, please visit the Sympathy Store.
Memories and Condolences
for Robert Waldmann
Angela King
November 12, 2025
I went to grade school with Robert. I wished we had more school reunions.
Ann Marie Marciarille
July 25, 2025
Marina and Thomas,
It has taken me a full month to collect myself enough to tell you that all my best memories of both of your parents involved great ideas, great food, and great laughter. Your father, in particular, was always the most careful listener, often saying "hey wait.." and making a funny or insightful observation on something that had just been said and perhaps left unappreciated. So, "hey wait", Robert, some day we hope to see you again.
Alessandra Pelloni
July 9, 2025
Dear Robert,
our common past has been so long and so nutritional for me that I feel a huge part of my future has gone away with you. Much of my thinking about economics comes from you, not to mention what I figure out I know of the US. It was such fun to talk with you on "everything, everyhere, all at once" to cite a film we both loved. In one of of our last chats I sent you the photo I post here, taken at Santa Maria dei Carmini in Venice, of " Saint Nicholas In Glory" by Lorenzo Lotto.We agreed that the extraniating power of the painting comes from the upside down contrast between the busy celestial assembly above and the empty earth below.
You are not here anymore and the earth is so much emptier now... A big hug, Ale
Nuala O'Donnell
July 7, 2025
I had the pleasure of having Robert as my supervisor in EUI, Florence. Condolences to his family and friends. May he rest in peace.
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Emmanuel Igbinoba
July 6, 2025
I am deeply saddened to hear about Professor Waldmann´s passing. He wasn´t just a brilliant teacher, but a mentor who shaped my journey. May his soul rest in peace!
Ivan De Lorenzo Buratta
July 4, 2025
Reading the posts here, it´s amazing how many people share memories of Professor Waldmann that are so similar to my own. This speaks not only to his depth as humang being, but also to his tireless perseverance in kindness, caring and humility, which can only belong to an above-average personality.
I met him during my master´s program, and was fortunate to have him on the committee that evaluated my thesis. At the end of the discussion, he took the time to congratulate me warmly, and he was the first person to encourage me to consider applying for a Ph.D. I had never consciously thought about it. Only now do I fully realize how important that small moment was for my career and my life, and I will always be grateful to him for it.
Just a few days ago I published my first paper, and I had thought about sending him an email. I dedicate it to him and to his memory.
Giacomo Caterini
July 3, 2025
I met Professor Waldmann when I was a master of science student at Tor Vergata and I had the opportunity to attend his lectures on macroeconomics. Professor Waldmann played a huge role in my training as an economist and in my career for several reasons. He encouraged students to use their critical spirit and he often used to challenge unrealistic dogmatic assumptions that are (still) taken for granted in our discipline. He often used to make fun of such unbelievable beliefs and his attitude was extremely influential for me and, I think, for my colleagues. He was funny and brilliant at the same time: I still remember that he was able to provide extremely sophisticated mathematical proofs of very complex results without even reading his own notes. Moreover, even though he was a superstar in his field, he was always extremely polite and did not seem to be aware of his position, so that students could feel comfortable conversating with him. I realised that he was a giant of the macro only a few months after the exam, when I read that his seminal studies on noise trading were cited in "the Black Swan", a modern classic of our discipline. Finally, I owe much to him, as he wrote the recommendation letter that allowed me to join a doctoral programme. I still treasure his letter and I am grateful for it. I hope his family can accept my deepest condolences.
Giacomo Caterini
July 3, 2025
I met Professor Waldmann when I was a master of science student at Tor Vergata and I had the opportunity to attend his lectures on macroeconomics. Professor Waldmann played a huge role in my training as an economist and in my career for several reasons. He encouraged students to use their critical spirit and he often used to challenge unrealistic dogmatic assumptions that are (still) taken for granted in our discipline. He often made fun of such unbelievable beliefs and his attitude was extremely influential for me and, I think, for my colleagues. He was funny and brilliant at the same time: I still remember that he was able to provide extremely sophisticated mathematical proofs of very complex results without even reading his own notes. Moreover, even though he was a superstar in his field, he was always extremely polite and did not seem to be aware of his position, so that students could feel comfortable conversating with him. I realised that he was a giant of the macro studies only a few months after the exam, when I read that his seminal studies on noise trading were cited in "the Black Swan", a modern classic of our discipline. Finally, I owe much to him, as he wrote the letter of recommendation that allowed me to join a doctoral programme. I still treasure his letter and am grateful for it. I hope his family can accept my deepest condolences.
Catia Nicodemo
July 2, 2025
Really sad news.
Robert was my second supervisor during my thesis at Tor Vergata. He was always there-generous with his time, thoughtful in his guidance. His suggestions were like rare pearls, always helping elevate my work to the next level. He was one of the best professors I´ve ever met.
But what I cherished most were the moments beyond the thesis-reading his blog, exchanging books, and talking about games, life, and everything in between. He truly changed the way I see academia-not as a race for publications, but as a space where what you hold in your heart truly matters.
His intellect was far above the average, but it was his humanity that left the biggest mark.
I will miss you, Robert.
Enrico Marvasi
July 2, 2025
Robert Waldman was my first professor of Macroeconomics, and from the very beginning, he stood out. He was nothing like the stereotypical image of the old-style Italian professor that a young undergraduate might expect; and that was incredibly refreshing. He didn´t just deliver a prepared lecture; he invited us into his own process of rethinking and reworking the foundations of macroeconomic models. At the time, I was too early in my academic journey to fully grasp the depth of what he was offering, but I appreciated his unique style.
Years later, I had the privilege of having him again during my PhD. In seminars, I was often struck by his ability to stay two steps ahead, grasping not only the mechanics of a model but also questioning its assumptions and mentally simulating how alternative premises would play out, all in real time. His intellectual agility was remarkable.
I remember when Professor Randall Wright visited Rome to give a series of lectures. It must have been around 2009 or 2010. After one of the sessions, a group of us, including Robert, went to dinner in Frascati. Somehow, the evening ended with a few of us sitting on a park bench, sharing a bottle of wine and talking late into the night about economics and our PhD theses. Listening to Robert in such an informal setting was amazing.
I used to read Robert blog and follow his insightful exchanges on twitter with people like Brad DeLong and others. There was always something to learn.
Later, while I was working with Barbara Annicchiarico, I had the chance to cross paths with him again. He was always warm, approachable, and above all, genuinely curious about our research.
Although I didn´t have the opportunity to know him more, I´m grateful to have encountered him. Some people leave a lasting impression even through brief interactions. Robert was one of those people: an inspired and inspiring researcher, and a rare mind who made a difference.
Alan Kirman
July 2, 2025
I knew Robert from the day that we appointed him at the European University Institute and always enjoyed his company and admired his talent. We wrote a paper together which we never published called "I quit" ` It is sad and unfair that Robert should have had to quit before me. I will miss him Alan Kirman
Gloria Di Caprera
July 2, 2025
I met Professor Waldmann when I was a master of science student in Tor Vergata. I had the chance to learn advanced macroeconomics from him. Not only he was the outstanding professor and economist we all know about, but he had no fear in showing all of us young students that being one of the greatest economist and, at the same time, being a kind hearted, nice, polite and hilarious person could be possibile. I then pursued a PhD at the same university and I will never forget when during my first seminar presentation he was on a front row, never stop looking at me, defending and validating was I was saying, perfectly knowing that some other professors and colleagues of mine where there not with the same good, professional and deontological intentions as he did. The presentation went pretty good and while some professors went to my supervisor to congratulate, he came directly to me saying "Glorié, sei stata grande". Then he left the room. I can barly hold back my tears in remembering this episod that forever marked my professional and personal path. Grazie Professore.
Sara Savastano
July 2, 2025
From professor at PhD to colleague at the Department,I deeply mourn the passing of Robert Waldmann, a valued colleague and brilliant mind, a terrible loss for the international scientific community.
Santo Milasi
July 1, 2025
Robert was my supervisor during my Master´s and later throughout my PhD. I chose him as my supervisor because of something that happened the day before the macroeconomics exam - a course he was teaching at the time. I had a question about a parameter in a model I couldn´t quite wrap my head around, so I went to his office. He didn´t have an answer ready, but instead of brushing it off, he invited me to sit down. We ended up spending over an hour together trying to figure it out, just the two of us working through the problem until it made sense.
The next day I took the exam. It didn´t go as well as I had hoped. But before I even got the grade, Robert wrote me an email. He said: "Sorry, you made some mistakes - but I added a couple of extra points because you asked me a very good question yesterday." I remember reading that and thinking: this professor is amazing. So I asked him to supervise my Master´s thesis - he even convinced me to critique a paper published in the AER by a "ricercatrice incauta", as he used to say - and later my PhD.
When I asked him to be my supervisor again, he replied in Italian: "Sì, mi fa molto piacere lavorare ancora insieme. Possiamo fare quello che piace a te, io ti aiuto, io ti seguo, ma sappi che io non trovo lavoro."
Perfect.
During the PhD years, Robert was always a source of encouragement. He never dismissed my ideas - even the half-baked ones - and he always made me feel supported. He made me believe I could actually do it, even when I struggled to see it myself. I wasn´t a great researcher, and my English was barely passable, but he never made me feel inadequate.
After the PhD, we kept in touch through occasional emails - I was living abroad. Then, two years ago, I wrote to him to say I had moved back to Rome. I told him we should catch up sometime, maybe over a beer. Now I really regret never following through with that invitation.
All of this just to say that Robert was, for me, a true source of inspiration - both professionally and personally. Seeing such a brilliant mind dedicate himself so generously to students is something truly rare. He was incredibly kind, with a very particular sense of humor. I still remember one of his jokes in Italian: "La questione delle prese elettriche tutte diverse in Europa è una questione spinosa."
He was also so unpretentious. At my graduation, he looked at me and asked: "Santo, sai fare nodo di cravatto?"
I cared deeply for him, and I´m truly sorry he´s no longer with us.
I never had the chance to meet his family, but I send you my depped condolences.
Barbara Annicchiarico
July 1, 2025
Robert was my professor during my PhD, then a colleague, and eventually we became friends. Our offices were close, directly across from each other, to be precise. So whenever he came into the department, we always ended up having a long chat. Since we lived in nearby neighborhoods, we often returned home together. The full journey by bus and metro, of course.
Our conversations were long and wonderfully unpredictable. With Robert, we might start by discussing a piece of code he had written in the middle of the night, then shift to economics, politics, departmental matters, or personal stories, all in a continuous and delightfully unstructured stream.
Working with him was intellectually stimulating and enjoyable, but being his friend was even more enriching. I will deeply miss his laughter, his sharp, witty remarks, and, of course, his funny t-shirts.
My deepest condolences to Marina, Kathy, Carol, and to all who loved him.
Giovanni Trovato
July 1, 2025
I´m was deeply saddened by Robert´s premature death. I had the privilege to work closed with Robert, and I discovered his boundless curiosity ranging from scientific topics to politics and life in general. I remember his red tie on exams days and the quiet agitation he felt, as he used to say that judging someone´s knowledge was a delicate and difficult task. My thoughts are with his loved ones.
Giuseppe Dachille
July 1, 2025
I was his student in Rome during my PhD. He was incredible, I'll never forget subtle irony. Once there was a magnificent sunset while was lecturing. After having solved the proof on the blackboard he stopped the lecture in advance in order to let us enjoy the sun. I wish I could look back again into that sun.
Marcello Messori
June 30, 2025
I met Bob mid-Eighties at Cambridge Mass., when he was one of the most brilliant Ph.D. students at Harvard and I was a visiting scholar at MIT. Then, we shared a long period as colleagues at the University of Rome 'Tor Vergata'. I had the privilege to be a member of the Committee that appointed Bob as full professor at the Italian university, and then to interact with him as a friend. Bob has been a great economist and a person willing to help the others. I remember that he assisted me in a painful event of my family life. I am very sad that Bob passed away when he would have been able to continue offering important contributions to economic theory and human empathy to his friends
marcello
June 30, 2025
It is with deep sorrow and lasting admiration that the Department of Economics and Finance at Tor Vergata University of Rome remembers Professor Robert James Waldmann. For over two decades, Robert was our colleague and an integral part of our community.
Robert was a brilliant economist with a deep concern for real-world impact-from inequality and health to financial and macroeconomic stability. Yet, we will miss not only his intellect but his kindness: the time he gave so freely to students, his incisive but encouraging feedback, his wry humor, and his open door.
He challenged us to think more clearly, to question more deeply, and to care more genuinely about the purpose of our work. His legacy lives on in the generations of scholars he mentored and in the papers that will continue to be read and cited.
We are grateful for the privilege of having known him, and we will carry his memory forward with affection and inspiration.
Samuel Broder, M.D.
June 29, 2025
My deepest sympathy to the entire family. This is an incredible loss.
elena granaglia
June 29, 2025
As husband of my beloved friend Elisabetta I have known Robert for almost 40 years. His eyes, intelligent, inquisitive, ironic are in front of me and I am so deeply sorry that he wasn't able t to enjoy at least a few more moments of tranquillity and peace after the past difficult years.
Luisa Corrado
June 29, 2025
I had the privilege of working closely with Robert, and I count myself among the many who were truly fortunate to know him. Throughout the years, Robert became a true point of reference in our Department. He was someone we could all rely on, a bright presence who shaped our academic community with his intelligence and generosity.
Robert´s scientific contributions spoke for themselves-his ability to bridge economic theory and econometrics was remarkable. He possessed a unique intuition, an almost instinctive talent for identifying the core of a research idea and nurturing it into a paper of real impact. So many of us benefited from his thoughtful feedback, his incisive questions, and his ability to see what others had missed.
What I will remember most, however, is Robert´s kindness and humanity. He dedicated so much time to mentoring younger colleagues and PhD students, always making us feel valued. His door was always open, and in every conversation, you could feel his genuine interest and care for others.
I have memories of organizing seminars together. There was always a moment when we´d look toward the door, anticipating Robert´s arrival. His presence could turn the course of a discussion: he would listen carefully, identify the essential points and flaws in a presentation, and-almost magically-suggest the right solution. He had a contagious enthusiasm, and every discussion with him was an occasion to learn and to laugh.
It was always a joy to meet Robert in the Department. I will miss him deeply. Robert´s legacy will live on in the community he helped build and in the hearts of all of us.
James Scully
June 28, 2025
I met Robert when he was a Professor at EUI Florence in 1995. A lovely man and great character. He will be missed. Condolences to all his family on their sad loss.
Thanasis Stengos
June 28, 2025
Robert was one of the most charismatic economists I have come to know. He was strikingly smart when I first met him in Florence in 1990 and he stayed that way when I met him in many occasions in Rome. Very witty and nonlinear in his thinking. A true intellectual. Deepest condolences to his family.
Lorenzo Carbonari
June 28, 2025
Dear Marina, Kathy and Carol,
Please accept my deepest condolences for your loss.
I had the privilege of meeting Robert at Tor Vergata-first as a PhD student, and later as a colleague. Our conversations spanned topics from economics to philosophy, from politics to poetry, and I learned something valuable from each one.
I will never forget the email he sent in the middle of the night (in plain ASCII), sharing his thoughts on the model we were working on together with Fabrizio. I always knew that working on that paper was his genuine way of supporting my career. I will always be grateful for that.
I will also carry with me the sound of his laughter after one of his jokes-many of which, I must admit, I often didn´t fully understand. He will be deeply missed.
May Robert rest in peace.
Alessandra Venturini
June 28, 2025
It is a long time that we did not meet, life is complex. We will miss you alessandra
Pierre Dehez
June 28, 2025
Back in 1989 in Florence! Lost track but not memories.
marina addis waldmann
June 27, 2025
Thank you dad for being the best supervisor ever I promise I will finish my thesis for you. I miss you already so much. Marina Bean
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