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Why do universities grant honorary doctorates?

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Why do universities grant honorary doctorates?

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A longstanding MR reader writes to me: My father will be granted an honorary doctorate from a European university. While he is undoubtedly deserving of the honor (he is a well-known professor in his field), I don’t understand the European institution’s incentives in granting the doctorate. My father in not from Europe, holds no degrees from there, has never worked there, and is unlikely to attract others to go there. Outside of altruism, why is he being honored? More broadly, why would any university grant an honorary degree, especially relatively high-status universities of the Stanford/MIT/Oxbridge ilk? Especially when conferred to non-academics, don’t such degrees dilute the brand value of the university? I can think of a few reasons for honorary doctorates: 1. The recipient is a major donor or potential major donor or friend of major donors. 2. The awarding of the doctorate creates press releases and attracts attention for the university. If the recipient is sufficiently prestigiou

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