The prize, established in 1979, is awarded jointly by the Mathematical Optimization Society (MOS) and the Society for Industrial and Applied Mathematics (SIAM). The prize is awarded for original research, which by its originality, breadth and scope, is having a major impact on the field of mathematical optimization.

There will be an ad hoc prize committee appointed for each award jointly by the chair of MOS and the president of SIAM. The committee will consist of four members, one designated "Chair" by the chair of MOS, and it will represent a diversified view of mathematical optimization. Committee appointments should be made at least two years before the prize award date. The MOS has the responsibility to notify its chair and the president of SIAM to make the appointments.

For continuity, committee members will normally serve on two successive prize committees with the committee chair being a second-term member. Thus, two new members will be appointed and two members will be re-appointed every three years.

Committee members will be members of MOS and/or SIAM. At least two members of the committee will be MOS members and at least two will be members of SIAM. The membership of the committee should also reflect the international character of the Societies.

The prize committee will deliver its final report with its nominee(s) at least six months prior to the prize award date. The prize committee will complete its duties with the awarding of the prize. If the prize committee reports that no prize can be awarded, then the prize money will be used to increase the endowment and the duties of the committee will be completed.

The prize is intended to reward outstanding contributions to the field of mathematical optimization. The contribution(s) for which the award is made must be publicly available and may belong to any aspect of mathematical optimization in its broadest sense.

The prize committee is responsible for solicitation and evaluation of nominations. A call for nominations should be placed in appropriate SIAM, MOS and other publications. Nominations should be accompanied by a letter of recommendation. The full prize committee should meet at least once, early enough to permit extended discussions concerning the qualifications of the candidates.

The nomination(s) for the award should be presented by the prize committee to the Executive Committees of the SIAM Council and of MOS, via the president of SIAM and the chair of MOS. The nomination(s) for the award must be accompanied by a written justification and a citation of about 100 words that can be read at the award date.

Both SIAM and MOS must accept the nomination(s). Objection by either one of the two societies will nullify the nomination(s). If the nomination(s) of the prize committee is rejected by MOS and/or SIAM, the prize committee may propose a second nomination.

The prize will be considered every three years. If no prize is awarded, the award date moves ahead three years.

The award is to include a certificate containing the citation and a cash prize, the amount of which is to be determined by the Executive Committee of the SIAM Board and of MOS. Normally the amount of the prize will be approximately the available proceeds from the endowment minus travel expenses from the endowment as noted below. Travel expenses for the award recipient(s) to the meeting will normally be paid by the George B. Dantzig Prize Fund, or as necessary, out of the operating funds of the Society that hosts the award. It is the option of the hosting organization to make the payment of travel expenses contingent on the delivery of a major lecture at the meeting.

The award will be presented at the International Symposium on Mathematical Programming (ISMP) except every third time at an annual meeting of SIAM. Presentation will be made by the chair of MOS (or his designate) when MOS is hosting the award, or otherwise by the president of SIAM (or his designate). The recipient is expected to make a short acceptance speech.

The MOS has the responsibility for soliciting and providing the funds necessary for the prize award. The fund will come from a contributed endowment. These funds are to be sent directly to SIAM, to be contributed to the George B. Dantzig Prize Fund in care of SIAM. SIAM has the responsibility for managing and administering the prize fund.

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