Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Gigantic snails are a delicacy in Ivory Coast

Read more

MEDIAWATCH

Hollande and Valls tell Trump, 'France is still France!'

Read more

THE DEBATE

It's all about Trump: how effective will the Democratic Party campaign be?

Read more

FOCUS

Indian women on frontline of battle against alcohol

Read more

FRENCH CONNECTIONS

35 hours: Are French workers lazy?

Read more

INSIDE THE AMERICAS

Race to the White House: Hillary Clinton's popularity problem

Read more

THE INTERVIEW

HRW chief Kenneth Roth: 'Putin cares about European public opinion'

Read more

BUSINESS DAILY

Facebook profits soar 186% as user numbers surge

Read more

IN THE PAPERS

Turkey: 'Once upon a time, there was a democracy'

Read more

Europe

American trio win Nobel Prize for economics

© AFP

Text by News Wires

Latest update : 2013-10-14

A trio of US academics, Eugene Fama, Lars Peter Hansen and Robert Shiller, won the Nobel Prize for economics for their groundbreaking work on spotting trends in asset markets.

Americans Eugene Fama, Lars Peter Hansen and Robert Shiller won the Nobel prize for economics on Monday for developing new methods to study trends in asset markets.

The Royal Swedish Academy of Sciences said the three had laid the foundation of the current understanding of asset prices.

While it's hard to predict whether stock or bond prices will go up or down in the short term, it's possible to foresee movements over periods or three years or longer, the academy said.

"These findings, which might seem surprising and contradictory, were made and analyzed by this year's laureates,'' the academy said.

Fama, 74, and Hansen, 60, are associated with the University of Chicago. Shiller, 67, is a professor at Yale University.

American researchers have dominated the economics awards in recent years; the last time there was no American among the winners was in 1999.

The Nobel committees have now announced all six of the annual $1.2 million awards for 2013.

The economics award is not a Nobel Prize in the same sense as the medicine, chemistry, physics, literature and peace prizes, which were created by Swedish industrialist Alfred Nobel in 1895. Sweden's central bank added the economics prize in 1968 as a memorial to Nobel.

(AP)

Date created : 2013-10-14

  • NOBEL PRIZE

    Chemical weapons watchdog wins Nobel Peace Prize

    Read more

  • NOBEL PRIZE

    Canada's Alice Munro wins Nobel Prize for literature

    Read more

  • NOBEL PRIZE

    Karplus, Levitt, Warshel win Nobel Prize for chemistry

    Read more

COMMENT(S)