What should be the Price of Assets? Nobel Prizes in Economics 2013

  • Sergey Gelman HSE University, 20, Myasnitskaya ul., Moscow, 101000, Russia
  • Carsten Sprenger HSE University, 20, Myasnitskaya ul., Moscow, 101000, Russia
Keywords: asset pricing, efficient markets hypothesis, generalized method of moments, financial market bubbles, index funds

Abstract

This paper reviews the contribution of Eugene Fama, Lars Hansen and Robert Shiller to financial asset pricing research. We show how the Nobel prize winners have changed the approach to asset pricing research, as well as the views of academic economists and investors about price predictability and the risk-return relationship.

Downloads

Download data is not yet available.
Published
2014-02-11
How to Cite
GelmanS., & SprengerC. (2014). What should be the Price of Assets? Nobel Prizes in Economics 2013. HSE Economic Journal, 18(1), 160-172. Retrieved from https://ej.hse.ru/article/view/29383
Issue
Vol 18 No 1 (2014): HSE Economic Journal
Section
Untitled section