Illinois is home to two of the latest Nobel Prize winners. Eugene Fama and Lars Peter Hansen, both professors at the University of Chicago, won the 2013 Nobel Prize in Economics for their research on long-term forecasting for asset prices, explaining why the prices of stocks and bonds change over time. It’s an honor that neither man expected when they began their careers.
Click here for summary
“As a young economist, I thought about how I’m going to feed my family,” Lama said. Both credited colleagues and students at the university in helping to shape their research. “Most of my best students are more than happy to tell me where I’m wrong,” Hansen said. Hansen and Lama are among the 88 Noble laureates who have either taught or studied at the University of Chicago.