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Nobel Prizes and Laureates

Nobel Prizes and Laureates

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2013
Eugene F. Fama, Lars Peter Hansen, Robert J. Shiller

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Eugene F. Fama - Facts

Eugene F. Fama

Eugene F. Fama

Born: 14 February 1939, Boston, MA, USA

Affiliation at the time of the award: University of Chicago, Chicago, IL, USA

Prize motivation: "for their empirical analysis of asset prices"

Field: financial economics

Prize share: 1/3

Life

Eugene Fama was born in Boston, Massachusetts and studied at Tufts University in Medford/Somerville, outside Boston. He later studied at the University of Chicago, where he received his Ph.D. in 1964. He has continued working there for his entire career. Eugene Fama is married with four children.

Work

For many of us, the rise and fall of stock prices symbolizes economic development. In the 1960s, Eugene Fama demonstrated that stock price movements are impossible to predict in the short-term and that new information affects prices almost immediately, which means that the market is efficient. The impact of Eugen Fama's, results has extended beyond the field of research. For example, his results influenced the development of index funds.

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MLA style: "Eugene F. Fama - Facts". Nobelprize.org. Nobel Media AB 2014. Web. 30 Sep 2016. <http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/2013/fama-facts.html>

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