Three Americans win Nobel Prize in economics
Monday, 14 October 2013
Three Americans won the Nobel Prize in Economics for their analysis of financial assets
The Swedish central banks, Sveriges Riksbank which give out the Prize in Economic Sciences in Memory of Alfred Nobel said in 2013, it was awarded jointly to Eugene F. Fama, Lars Peter Hansen and Robert J. Shiller, for their empirical analysis of asset prices".
From Swedish television
Their research predict the price of stocks and bonds over the next few days or weeks. But it is quite possible to foresee the broad course of these prices over longer periods, such as the next three to five years.
These findings, which might seem both surprising and contradictory, were made and analyzed by this year’s Laureates, Eugene Fama, Lars Peter Hansen and Robert Shiller, the Nobel committee write in a press release.
They showed that stock prices, while unpredictable in the short term, tend to follow established rules in the long term.