University of Chicago Professor Eugene Fama is widely recognized as the "father of modern finance." On Monday he was one of three Americans to win the Nobel Prize for Economics.

Three American scholars won the Nobel Prize in economics for pioneering work in financial markets that has transformed portfolio management and asset pricing and launched the study of how emotions affect investment decisions.

The Royal Swedish Academy of Sciences on Monday honored Eugene Fama and Lars Peter Hansen of the University of Chicago and Robert Shiller of Yale University, citing their complementary but independent breakthroughs on "empirical analysis of asset prices."

The laureates focused on how prices are set for stocks and bonds, but their findings have implications far beyond financial markets. Every corner of the macroeconomy is affected by the risk tolerance—as well as rational and irrational acts—that spur individuals and corporations to invest or save.

【新闻快讯】

北京时间10月14日晚间消息，据《华尔街日报》，周一美国三位学者共同获得诺贝尔经济学奖，他们因在金融市场、资产价格和行为经济学运行方面的开拓性工作而获此殊荣。尤金·法玛、彼得·汉森、罗伯特·希勒因为对资产价格的实证分析获得2013年诺贝尔经济学奖。

三人对股票和债券如何定价及为何定价的不同研究而获奖，他们的研究重新塑造了投资组合管理，促成了股指基金的诞生，创建了计量经济学分析的基本工具。