The Foundation ERAE (now the EAAEP Foundation) and the European Association of Agricultural Economists (EAAE) were created in a joint process in the first half of the 1970s. This process started at the 1970 Congress of the IAAE in Minsk where a group of Europeans started to discuss the need for closer European cooperation via a European Association and a journal. Several sponsors provided funds to get this started. The need for the ERAE was immediately clear as national journals in their native languages were seen as a barrier to the exchange of research results. With a grant of $ 10,000 by the IAAE, and after a start meeting in Siena (21-24 September 1972), the ERAE was established. The creation of the EAAE went slower and took place in 1975 at its first congress in Uppsala (Sweden).
It took quite sometime before this relationship became one that resembles the organisation of many other learned societies, that organise congresses and other scientific events, as well as publish journals (with often a cross subsidiation in which royalties of the journals are used to organise events).
In 2017 the Foundation and the EAAE have taken steps to align each other more closely. This has not only been implemented in the statutes of the EAAE and the EAAEP Foundation, but also with a legal binding conract between the two entities. That contract can be found here: Contract EAAE – EAAEP Foundation
The EAAE has awarded prizes to the outstanding ERAE journal article, until 2008 for scientists younger than 35 years, later without an age limit. See the page on this website for the winners