Nobel Prize for Economics 2013 Winners - Fama, Shiller and Hansen

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Three American scientists Eugene F. Fama (University of Chicago, IL, USA),  Lars Peter Hansen (University of Chicago, IL, USA) and Robert J. Shiller (Yale University, New Haven, CT, USA)  won the prestigious Nobel Prize in Economic Sciences for the year 2013 for research that has improved the forecasting of asset prices in the long term and helped the emergence of index funds in stock markets, the award-giving body said. According to the committee, the economists' research "laid the foundation for the current understanding of asset prices." 

The economics prize, officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968. It was not part of the original group of awards set out in dynamite tycoon Nobel's 1895 will. Most of the recipients of the Nobel in economics were born in the United States. American economists Alvin E Roth and Lloyd S Shapley won this award for the year 2012.

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