Nobel Prize Committee Covers Its Assets

The Nobel Prize in Economics goes to Eugene Fama, Robert Shillier, and Lars Peter Hansen for their work on asset pricing.   Fama is well-known for his empirical work on the Efficient Market Hypothesis, as well as work corporate finance (or any organizational finance, really).  He has a half dozen articles with north of 10,000 citations.  Zoinks.   Shiller is a well-known behavioral guy who writes about market volatility and asset bubbles (are those inconsistent with the EMH?).  You might know him from the Case-Shiller housing price index we’re always reading about.  I don’t know much about Hansen, beyond the generalized method of moments business.

I’m sure there’s no dearth of news reports on these guys.  Marginal Revolution has a thousand words on each today. 

Once again, there was no winner in the Pick the Nobel contest, meaning the fabulous prize package will roll over to next year.

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