THE 1987 WOLF FOUNDATION PRIZE IN MATHEMATICS

The Prize Committee in Mathematics for 1987 has unanimously recommended that the Wolf Prize in Mathematics be shared in equal halves by:**Kiyoshi ItoResearch Institute for Mathematical SciencesKyoto UniversityKyoto, Japan**

for his fundamental contributions to pure and applied probability theory, especially the creation of the stochastic differential and integral calculus.

Peter D. Lax

Courant Institute of Mathematical Sciences

New York , N.Y., USA

for his outstanding contributions to many areas of analysis and applied mathematics

Professor Kiyoshi Ito has given us a full understanding of the infinitesimal development of Markovian sample paths. This may be viewed as Newton´s law in the stochastic realm, providing a direct translation between the governing partial differential equation and the underlying probabilistic mechanism. Its main ingredient is the differential and integral calculus of functions of Brownian motion. The resulting theory is a cornerstone of modern probability, both pure and applied. In addition, Prof. Ito has been the inspirer and teacher of a whole generation of Japanese probabilists.

Professor Peter D. Lax, a graduate of the Courant Institute, embodies the best traditions of D. Hilbert as continued by R. Courant. Among his many contributions are the solution of the Cauchy problem with oscillatory data, the clarification of the role of stability of a numerical scheme, the comprehensive development of scattering theory, the theory of non-linear conservation laws and a deep insight into the Korteweg-de Vries equation. Prof. Lax´ s influence has been profound and decisive in both pure and applied mathematic