Sara Fisher Ellison and Glenn Ellison: MIT Economists in the Shadow of the FTX Scandal

When Caroline Ellison received her two-year federal prison sentence in September 2024, the courtroom was filled with her immediate family—including her parents, Sara Fisher Ellison and Glenn Ellison, both prominent members of the MIT Department of Economics. The sentencing marked a dramatic turn for an accomplished academic family whose children’s legal troubles would bring unprecedented public scrutiny to their institutional reputation.

A Distinguished Academic Family at MIT

Sara Fisher Ellison and Glenn Ellison represent a rare pairing in academia: both are senior faculty members within MIT’s prestigious economics department, commanding respect for their scholarly contributions spanning multiple decades. Glenn holds the rank of professor and has previously served as Head of the Department, establishing himself as a leading figure in economic research. Sara Fisher Ellison works as a senior lecturer, building an equally impressive record of academic achievement in her own right.

Their research trajectories, while distinct, reflect complementary expertise in understanding market dynamics and economic behavior. Glenn’s intellectual interests encompass game theory, industrial organization, finance, and education—subjects that reveal his broad engagement with fundamental economic questions. His academic output has extended beyond peer-reviewed research; he authored the “Hard Math” educational textbook series for elementary and middle school students, demonstrating a commitment to public understanding of mathematical and economic concepts. His published works examine diverse topics including taxation, technology effects, market structure, and notably, gender disparities in mathematics achievement at the secondary school level.

When the Spotlight Turned on Sara Fisher Ellison’s Family

The fall of 2024 brought unwanted attention to the Ellison household when Caroline Ellison, then-CEO of Alameda Research, faced prosecution for her role in the FTX fraud case. Her sentencing in autumn 2024 represented a significant moment for the family, as Judge Lewis Kaplan handed down a two-year prison term despite defense requests for leniency and prosecutorial recommendations citing her extensive cooperation against Sam Bankman-Fried.

While the judge’s decision was harsher than the family had anticipated, one concession was granted: Caroline could serve her sentence at a facility near her family’s Boston residence, maintaining geographical proximity to her parents during her incarceration. According to federal guidelines, she would need to complete at least two-thirds of her sentence before becoming eligible for parole consideration.

Sara Fisher Ellison’s Research on Markets and Digital Economics

Sara Fisher Ellison has carved out a distinctive scholarly niche focusing on how technology reshapes market structures. Her research portfolio concentrates on two primary domains: e-commerce and the pharmaceutical industry. In her pharmaceutical research, she examines both supply and demand dynamics within drug markets, contributing to policy discussions about medication pricing and availability. Her e-commerce research, conversely, explores how internet technologies have fundamentally altered market competition, consumer pricing, and the structure of retail industries.

This scholarly focus on how digital disruption affects traditional business models positions Sara Fisher Ellison as a valuable voice in understanding technological market transformation—a perspective particularly relevant as digital platforms continue reshaping global commerce.

Collaborative Research Between Sara Fisher Ellison and Glenn Ellison

Beyond their individual contributions, Sara Fisher Ellison and Glenn have occasionally joined forces on research projects that synthesize their complementary expertise. In 2005, they co-authored “Lessons About Markets From the Internet,” an early examination of internet economics. Nearly a decade and a half later, they collaborated again on “Search and Obfuscation in a Technologically Changing Retail Environment” (2018), demonstrating sustained intellectual partnership across years.

Their most recent collaborative effort examined the implications of home-sharing platforms like Airbnb. The research, conducted by Sara Fisher Ellison and Glenn together, argued that such platforms could increase overall social welfare through more intensive property utilization. However, they also identified potential downsides, particularly the risk of exacerbating housing shortages in primary residential markets—a nuanced analysis reflecting the complexity of balancing innovation benefits against distributional consequences.

Family Response to Media Scrutiny

Since their daughter’s legal troubles became public knowledge, Sara Fisher Ellison and Glenn have maintained a largely private stance. While photographed occasionally during court proceedings and public appearances related to Caroline’s case, they have consistently declined to engage with media inquiries or provide statements regarding the scandal. This reserved approach reflects their preference for privacy during a challenging period, allowing their published academic work to remain their primary public voice.

The contrast between their scholarly contributions to economic understanding and the criminal charges involving their daughter underscores the unpredictability of family outcomes, even within households marked by intellectual accomplishment and professional success.