UD faculty members discuss 2013 prize-winners at annual symposium
Today’s chemists might work at a computer as often as in a laboratory, medical researchers studying conditions such as diabetes rely on understanding how cells carry and deposit materials within the body, and average investors in the market increasingly buy index funds to average out the short-term ups and downs of individual stocks.
The discoveries that led to these changes are among the work that was honored by this year’s Nobel Prizes. (more…)
Robert J. Shiller, the Sterling Professor of Economics at Yale University, has been awarded a Nobel Prize in Economic Sciences. He shares the award — formally, the 2013 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel — with Eugene F. Fama and Lars Peter Hansen from the University of Chicago. According to the Nobel committee, the three were honored “for their empirical analysis of asset prices.”
Shiller, whose name became a household word with the wide use of the Case-Shiller Home Price real estate Index, came to national prominence with the publication in 2000 of “Irrational Exuberance.” The book, which quickly became a bestseller, described speculative bubbles fueled by mass misinformation and herd instinct, and accurately predicted the dot.com implosion. As early as 2003, Shiller warned of the housing market collapse, and later wrote a precept for recovery, “Subprime Solution: How the Global Financial Crisis Happened and What to Do about It.” (more…)
