2 UChicago profs win Nobel Memorial Prize in Economic Science

[motherbear332]

<p>

Three American professors — Eugene F. Fama, Lars Peter Hansen and Robert J. Shiller — were awarded the Nobel Memorial Prize in Economic Science on Monday for showing that stock prices, while unpredictable in the short term, tend to follow established rules in the long term.</p>

<p>Their work, done individually rather than in cooperation, “laid the foundation for the current understanding of asset prices,” according to a statement from the Royal Swedish Academy of Sciences, which awards the annual prize.</p>

<p>Mr. Fama and Mr. Hansen are professors at the University of Chicago; Mr. Shiller is a professor at Yale University.

</p>

<p><a href=“http://www.nytimes.com/2013/10/15/business/3-american-professors-awarded-nobel-in-economic-sciences.html?hp&_r=0[/url]”>http://www.nytimes.com/2013/10/15/business/3-american-professors-awarded-nobel-in-economic-sciences.html?hp&_r=0&lt;/a&gt;&lt;/p&gt;

[Chaudhuri]

<p>Good news, congratulations, UChicago! No Phys, no Bio, no Chem, finally it comes, yes Econ.</p>

[newmassdad]

<p>I’ve known of Fama’s work since was at Booth (then GSB) in the early 1980s, although I never took his course, which was heavy duty and very math centric. I am not surprised he won, since he pioneered modern financial market theory, including efficient market concepts.</p>

[kaukauna]

<p>Huzzah!!!</p>

[Realeducation]

<p>Felicidades !! Congratulations !!</p>

[ewho]

<p>

… since he pioneered modern financial market theory, including efficient market concepts.

</p>

<p>If the markets were efficient, there would not have been any hedge funds doing daytrading by purely looking at the charts…</p>

[ramboacid]

<p>

Mr. Shiller, reached by phone during the news conference announcing the award, described his reaction. “Disbelief,” he said. “That’s the only way to put it.”</p>

<p>Mr. Fama, asked whether he had anticipated this moment, said, “I didn’t want to presume that I would win.” He added, “I knew that I would be thrilled, of course.”

</p>

<h1>uchiswagger</h1>

[theoneguy]

<p>hurray way to go nice</p>

[FStratford]

<p>The hedge funds make the market efficient. :-)</p>

[cutiepie1]

<p>Saw this post late but yes congrats to the 2 UChicago profs won Nobel Prizes. Way to go UChicago :)</p>