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

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

1.Eugene F. Fama
University of Chicago, IL, USA

2.Lars Peter Hansen
University of Chicago, IL, USA

3.Robert J. Shiller
Yale University, New Haven, CT, USA

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; 1.2m Dollars), which will be shared equally among the three winners.

The Nobel Prize in Economic Sciences

•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.

• The Nobel Foundation does not officially recognize it as a Nobel Prize, but as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.

• The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded 45 times to 74 Laureates between 1969 and 2013.

In 2012 The Sveriges Riksbank Prize in Economic Sciences was awarded jointly to Alvin E. Roth and Lloyd S. Shapley "for the theory of stable allocations and the practice of market design".

Facts about Noble Prize for Economics

• 45 Prizes in Economic Sciences have been awarded since 1969.

• 22 Prizes in Economic Sciences have been awarded to one Laureate only.

• 1 woman has been awarded the Prize in Economic Sciences so far, Elinor Ostrom, in 2009.

• 51 years was the age of the youngest Laureate in Economic Sciences ever, Kenneth J. Arrow, who was awarded in 1972.

• 90 years was Leonid Hurwicz when he was awarded the Prize - the oldest Laureate in Economic Sciences ever.

• 67 is the average age of the Laureates in Economic Sciences the year they were awarded the prize.