This is ALL THINGS CONSIDERED from NPR News. I'm Melissa Block.
The Nobel Memorial Prize in Economics went to three American professors today. In announcing the honor, the Royal Swedish Academy of Sciences said the men all contribute to our understanding of how markets price things like stocks and homes. But as NPR's Dan Bobkoff reports, that doesn't mean the three economists always agree.
Originally published on Fri October 18, 2013 3:02 pm
Arunachalam Muruganantham had his light bulb moment when he was 29 years old, and holding a sanitary napkin for the first time.
Examining the cotton pads he was buying as a gift for his new wife, the Indian entrepreneur realized that the multinational company that produced them was probably spending cents on raw materials, and making a huge profit.
Three American professors have won the 2013 Nobel Prize for Economics for their work in identifying long-term trends in the prices of stocks and bonds, based in part on analyzing the role of risk.
Professors Robert J. Shiller of Yale University and Eugene F. Fama and Lars Peter Hansen, both of the University of Chicago, won "for their empirical analysis of asset prices," the Royal Swedish Academy said in announcing the honor Monday.
OK, the Nobel Memorial Prize in economics was awarded today to three American men - Eugene Fama, Lars Peter Hansen, Robert Shiller. The Nobel committee cited their research in the predictability of stock prices, as well as other asset prices. We're going to find out more now from Zoe Chace of NPR's Planet Money team. She's on the line. Hi, Zoe.
ZOE CHACE, BYLINE: Hi, Steve.
INSKEEP: Each of these guy's names is a little familiar, I think to the layman, especially maybe Shiller. Who are they?
Social science research shows movie goers are less receptive to ads if they're munching on popcorn. When we watch an ad on the screen, we subconsciously mouth the name we're hearing. And this "inner speech" makes an imprint on our brain. But if you're chewing your way through the ads, your mouth and brain don't go through those motions, and the message may not stay with you.
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