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Pricing kernels or stochastic discount factors (SDFs) (see Stochastic Discount Factors) are used to rep-resent valuation operators in dynamic stochastic economies. A kernel is a commonly used mathe-matical term for representing an operator. The term stochastic discount factor (SDF) extends concepts from economics and finance to include ...
While we can’t know what we don’t know, economist Lars Peter Hansen has not only not shied away from this question, he has tried to understand its ambiguity. He acknowledged the pervasiveness of uncertainty in all aspects of our lives, particularly with regard to economic activity, and has pushed this incredibly complex and challenging matter to the forefront of economic modeling.
Lars Peter Hansen delivered his Prize Lecture on 8 December 2013 at Aula Magna, Stockholm University. He was introduced by Professor Per Strömberg, Member of the Economic Sciences Prize Committee. He was introduced by Professor Per Strömberg, Member of the Economic Sciences Prize Committee.
Lars Peter Hansen (født 26. oktober 1952) er en amerikansk økonom. Han er professor ved University of Chicago og modtog Nobelprisen i økonomi i 2013 sammen med Robert Shiller og Eugene Fama. Han er primært kendt som økonometriker, men arbejder også inden for makroøkonomi, ikke mindst med sammenhængen mellem økonomiens finansielle og ...
Lars Peter Hansen (* 26. října 1952 Champaign, Illinois) je americký ekonom, zabývající se zejména makroekonomií, ekonometrií a teorií financí, nositel Nobelovy ceny za ekonomii. Život a vědecká činnost. Jeho otec, Roger Gaurth Hansen, byl profesorem biochemie na Utah State University.
Lars Peter Hansen is a leading expert in economic dynamics who works at the boundaries of macroeconomics, finance, and econometrics. His current collaborative research develops and applies methods for pricing the exposure to macroeconomic shocks over alternative investment horizons and investigates the implications of the pricing of long-term uncertainty.
