Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Polanski Pulls Out of the Césars

Read more

THE DEBATE

Next stop, Westminster: Supreme Court orders Brexit parliament vote (part 1)

Read more

THE DEBATE

Next stop, Westminster: Supreme Court orders Brexit parliament vote (part 2)

Read more

FOCUS

Iranian women push boundaries through sport

Read more

MEDIAWATCH

Crowds, Lies & Alternative Facts

Read more

ENCORE!

Backstage at the Haute Couture show of designer Julien Fournié

Read more

BUSINESS DAILY

President Trump pulls US out of TPP trade deal

Read more

IN THE PAPERS

'Donald Trump is rolling back the clock on diversity in the cabinet'

Read more

IN THE PAPERS

Did France's left inflate turnout figures in round one of the primary?

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)