During this week before the Nobel Prize ceremony in Stockolm and Oslo, December 10, we present the Nobel Prize winners and what they have received the prize for.
The Prize in Economic Sciences is awarded to Eugene Fama, Lars Peter Hansen and Robert Shiller. It is impossible to predict if the prices will go up or down tomorrow or next week but it is possible to foresee the broad course of longer time periods. They receive the prize due to the methods they have developed to study the prices of financial asset prices and have applied them in studies of detailed data on the prices of stocks, bonds or other assets. This has led to theory development and professional investment practice. They have laid the gound for asset price resarch. The Nobel Laureates research has had big impact for research of financial markets.
Eugene Fama is born 1939 in Boston, USA. Today he is Robert R. McCormick Distinguished Service Professor of Finance vid University of Chicago, IL, USA
Lars Peter Hansen is born 1952 in USA. Today he is David Rockefeller Distinguished Service Professor in Economics & Statistics vid University of Chicago, IL, USA.
Robert J. Shiller is born 1946. Today he is Sterling Professor of Economics vid Yale University, New Haven, CT, USA