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US trio win Nobel Economics Prize

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US trio Lars Peter Hansen, Eugene Fama and Robert Shiller won the Nobel Economics Prize on Monday for groundbreaking work on spotting trends in markets, the jury said. 

US economic scientists (left to right) Eugene Fama, Lars Peter Hansen and Robert Shiller were awarded the Nobel Economics Prize at the Royal Swedish Academy of Sciences in Stockholm, on October 14, 2013

The three "have laid the foundation for the current understanding of asset prices. It relies in part on fluctuations in risk and risk attitudes, and in part on behavioural biases and market frictions," the Royal Swedish Academy of Sciences said.

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