Don't miss

Replay


LATEST SHOWS

PEOPLE & PROFIT

Clocking out: South Korea prepares for shorter working week

Read more

BUSINESS DAILY

Boeing sales chief: 'We depend on China'

Read more

EYE ON AFRICA

Eritrea to send delegation to Ethiopia for peace talks

Read more

MEDIAWATCH

US media: Outraged and outrageous on immigration

Read more

BUSINESS DAILY

How do migrants affect the labour market?

Read more

THE DEBATE

Children in cages: What drives Trump's family separation policy?

Read more

THE INTERVIEW

NATO chief hails strength of transatlantic bond on defence

Read more

FOCUS

Japan rejects 99% of asylum applications

Read more

ENCORE!

Film show: 'Sextape', 'How to Talk to Girls at Parties', 'Looking for Teddy'

Read more

Europe

American trio win Nobel Prize for economics

© AFP

Text by NEWS WIRES , Stockholm

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

    Karplus, Levitt, Warshel win Nobel Prize for chemistry

    Read more

  • NOBEL PRIZE

    Canada's Alice Munro wins Nobel Prize for literature

    Read more

  • NOBEL PRIZE

    Chemical weapons watchdog wins Nobel Peace Prize

    Read more

COMMENT(S)