Lars Peter Hansen

Facts

Lars Peter Hansen

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Lars Peter Hansen
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2013

Born: 26 October 1952, Urbana, IL, USA

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

Prize motivation: “for their empirical analysis of asset prices”

Prize share: 1/3

Life

Lars Peter Hansen was born in Champaign, Illinois in the United States and studied at Utah State University in Logan, where his father was a professor of biochemistry. He received his Ph.D. from the University of Minnesota in Minneapolis and St Paul in 1978. He worked at Carnegie-Mellon University in Pittsburgh 1978-81, and then moved to the University of Chicago, where he has worked ever since. Lars Peter Hansen is married with one son.

Work

For many of us, the rise and fall of stock prices symbolizes economic development. Eugene Fama demonstrated that stock price movements are impossible to predict in the short-term, while Robert Shiller discovered that stock prices can be predicted over a longer period. In 1982, Lars Peter Hansen developed a statistical method for testing this type of theory. He demonstrated that Shiller's results could not be fully explained within the then-current models and Hansen's method is now used within all economics research.

To cite this section
MLA style: Lars Peter Hansen – Facts. NobelPrize.org. Nobel Prize Outreach AB 2024. Tue. 19 Mar 2024. <https://www.nobelprize.org/prizes/economic-sciences/2013/hansen/facts/>

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