(November 17, 1928 in Manila – July 5, 1998 in Quezon City) was professor of economics at the University of the Philippines Diliman, where he served as dean of the School of Economics from 1974 until his retirement in 1994.
Encarnación was educated at UP Diliman (PhB, MA Philosophy) and at Princeton University (PhD Economics).
At Princeton he was a student and dissertation advisee of William J.
Baumol.
The only Filipino economist of his generation to work in the field of theory, Encarnación was best known for advancing the theory of lexicographic preferences, which in the words of Richard Day, Encarnación "almost singlehandedly kept alive".
In 1987 he was named National Scientist, the highest recognition of scientific achievement given by the Republic of the Philippines.
In 2008, the main building of the School of Economics at the University of the Philippines was renamed Encarnación Hall in his honor.