USU '74 alumnus wins Nobel Prize for Economics
Published: Tuesday, October 15, 2013
Updated: Tuesday, October 15, 2013 17:10
A USU alumnus was awarded the Nobel Prize in Economics on Monday by the Royal Swedish Academy of Sciences.
Lars Peter Hansen, a 1974 graduate of USU in mathematics, was awarded the prize along with colleagues Eugene F. Fama and Robert J. Shiller “for their empirical analysis of asset prices,” the RSAS announced in a press release on Monday.
“Lars Peter Hansen developed a statistical method that is particularly well suited to testing rational theories of asset pricing,” according to the press release.
“We are excited that Lars has received this well-deserved recognition,” said James MacMahon, dean of USU’s College of Science, in a statement on Monday. “We’ve followed his many accomplishments through the years and appreciate his faithful support of his alma mater.”
“My time at USU was very important to my development as a scholar,” Hansen said in a fall 2008 issue of the USU Alumni Association magazine. “Doug Alder told me, ‘Do something special and don’t just imitate others.’”
Hansen went on to earn a Professional Achievement Award from USU’s Huntsman School of Business in 2009 and an honorary degree from USU in 2012.
The three winners will be splitting the roughly $1.2 million prize, according to the RSAS.