Americans win Nobel prize for work on predicting markets

By way of Johan Ahlander and Alister Bull STOCKHOLM/WASHINGTON (Reuters) – Three American scientists received the 2013 economics Nobel prize on Monday for analysis that has superior the forecasting of long term asset prices, a sizzling matter for the reason that give way of the U.S. housing market bubble prompted a global financial meltdown. “There is no option to predict the associated fee of shares and bonds over the following few days or perhaps weeks,” The Royal Swedish Academy of Sciences mentioned in awarding the eight million crown ($1.25 million) prize to Eugene Fama, Lars Peter Hansen and Robert Shiller. …