Eugene Fama, Lars Peter Hansen, Robert Shiller won Economics Nobel 2013

The Royal Swedish Academy of Sciences decided to award The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2013 to three US-based Economists - Eugene F. Fama, Lars Peter Hansen and Robert J. Shiller for their empirical analysis of asset prices on 14th October.

1. Eugene F. Fama, University of Chicago, IL, USA 2. Lars Peter Hansen University of Chicago, IL, 3. Robert J. Shiller, Yale University, New Haven, CT. The three American Economists awarded for their work on creating a deeper knowledge of how market prices move. The prize is worth 8m Swedish krona (775000 Pounds; US $ 1.2 million), which will be shared equally among the three winners.

The Nobel Prize in Economic Sciences is not one of the original Nobel prizes. It was created in 1968 by the Swedish Central Bank in memory of Alfred Nobel, who established the prizes for Chemistry, Medicine, Physics, Literature and Peace in 1895. The first Economics prize was awarded in 1969.