Monday, October 14, 2013
The Sveriges Riksbank Prize in Economics in Memoriam of Alfred Nobel
Commonly called the Nobel Prize in Economics was awarded today to three economists working in the area of finance: Eugene Fama, Lars Hansen and Robert Shiller. The advancements are in the area of the "empirical analysis of asset prices: Fama for his work on the Efficient Markets Hypothesis and related areas, Hansen for the widely used Generalized Method of Moments statistical technique, and Shiller for work on failures of rationality including financial bubbles. Tabarrok and Cowen provide good summaries over of Marginal Revolution (Fama, Fama, Hansen, Hansen, Shiller, Shiller).