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> where he holds the James and Carol Collins chair

What is the academic impact of holding an endowed chair like the 'James and Carol Collins chair'? It it related to any specific advantages or responsibilities? Those titles seem like they serve as a form of recognition for donors, is there a deeper significance behind them?

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The advantage is that the chair usually comes with a bunch of money which you can use to fund grad students and pay for research. The latter is of course much more important in experimental sciences and engineering than it is in math. Still, mathematicians often do hire grad students to do grunt work for them.

Often, no, but some are particularly prestigious due to the lineage of individuals who had held the chair. Others have some special requirements like any endowment. Mostly, it is not really meaningful though.

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