10/15/2013

The Royal Swedish Academy of Sciences has awarded the Nobel Memorial Prize in Economic Sciences to three professors well-known to the financial industry whose work has advanced the understanding of how and why markets move. Eugene F. Fama and Lars Peter Hansen of the University of Chicago and Robert J. Shiller of Yale University were awarded the prize for their almost 50 years of research, which has focused on a combination of risk analysis, behavioral science and market moves. This research, according to the academy, has "laid the foundation for the current understanding of asset prices."

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