A committee of preliminary judges, consisting of business, financial and economic journalists and faculty members of UCLA Anderson School of Management, is assigned to each competition category. These committees review all entries and select finalists in their category. Judges may change the category in which an entry is submitted if, in their opinion, it more appropriately belongs in a different category.
A diverse and distinguished panel of final judges, representing major print, broadcast and online outlets, meets and selects the winner in each category from among finalists submitted by the preliminary judges. The final judges will also review the nominees for the Lifetime Achievement Award and Lawrence Minard Editor Award, and choose a recipient for each award. The dean of UCLA Anderson School of Management chairs the panel.
Judging of entries is based on:
- News Value: insight, informative qualities and durability.
- Originality and/or Exclusivity: enterprise and discovery.
- Reportorial Quality: thoroughness and balance.
- Writing Quality: clarity in dealing with description, concepts, findings and complex issues.
- Analytical Value: application of current economic thinking, breadth and depth of coverage, contribution to helping readers see complex issues in a new light.
- Production Value and Visual Impact: (where applicable).
The winning entry in each category receives a $2,000 honorarium. If a winning entry has more than one contestant, they shall divide the award equally. If the final judges determine that an entry or entries not selected for a prize in a particular category merits special recognition, the entry may be awarded honorable mention. Honorable mentions in each category receive $500. Under certain special circumstances, established by the final judges, a writer or entry may receive a special award.
Loeb Foundation trustees may alter the amount of a prize to accommodate entries with many writers or broadcasters, or they may adjust the prize to other special circumstances. Award finalists will be announced in late spring, and award winners will be announced at the banquet and presentation ceremony in early summer.