The Yale professor is awarded the prize for his research across areas including decision-making and behavioral economics.
His research spanned areas including labor economics, financial economics and risk management.
The new research unit will be led by energy economics professor Christopher Knittel.
The former finance minister of Portugal will start in the role on June 1.
The microeconomist will take up the post on Jan. 1 next year.
Ronald Crowe and David Croach have joined the university’s College of Agriculture and Life Sciences in teaching posts.
Tal Gross joined the university in 2017 from the University of Miami.
Gopi Shah Goda takes over from economist Susan Athey on the panel, which advises Gov. Gavin Newsom.
The trade economist was most recently a senior fellow at the Peterson Institute of International Economics.
The economist will join the institution from Sciences Po, where is currently a professor and provost.