Nobelprize.org
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

Share this:

Robert J. Shiller - Facts

Robert J. Shiller

Robert J. Shiller

Born: 29 March 1946, Detroit, MI, USA

Affiliation at the time of the award: Yale University, New Haven, CT, USA

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

Field: financial economics

Prize share: 1/3

Trendspotting in Asset Markets

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. In the early 1980s, however, Robert Shiller discovered that stock prices can be predicted over a longer period, such as over the course of several years. In contrast to the dominant perception, stock prices fluctuated much more than corporate dividends. Shiller's conclusion was therefore that the market is inefficient.

Copyright © The Nobel Museum
Share this:
To cite this page
MLA style: "Robert J. Shiller - Facts". Nobelprize.org. Nobel Media AB 2014. Web. 25 Oct 2014. <http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/2013/shiller-facts.html>

Recommended:

Find out if all countries in the world gain on trading.

 

All you want to know about the Prize in Economic Sciences!

 

This Prize was established in memory of Alfred Nobel.