Nobel Prize Economics 2013 won US trio Lars Peter
Hansen, Eugene Fama and Robert Shiller
US trio Lars Peter Hansen, Eugene
Fama and Robert Shiller won the Nobel Economics Prize for groundbreaking work
on spotting trends in asset markets, the jury said. The three "have laid
the foundation for the current understanding of asset prices. It relies in part
on fluctuations in risk and risk attitudes, and in part on behavioural biases
and market frictions," the Royal Swedish Academy of Sciences said.
Fama and Hansen are both professors
at the University of Chicago, while Shiller is a professor at Yale University
in Connecticut.
The economics prize is the only
Nobel not originally included in the last will and testament of the prizes'
creator, Swedish scientist and philanthropist Alfred Nobel. It was established
in 1968 by the Swedish central bank to celebrate its tri-centenary, and first
awarded in 1969. The other prizes have been awarded since 1901.
Americans have dominated the list of
economics laureates, with 17 out of 20 laureates coming from the US in the past
10 years. Last year, US scholars Alvin Roth and Lloyd Shapley won for their
work on the functioning of markets and how best to match supply and demand.
