Yah, Nobel prize. All guys that deserved it … I just wouldn’t have expected them to get it together. To be honest, the reasoning makes sense though – they have all added significantly to the empirical analysis of asset prices, albeit in quite different ways 🙂
Also I enjoyed this. And this post on why the Chicago school gets so many Nobel laureates is a good counter-measure to all the arbitrary bile that can be thrown around on the interwebs 🙂 . I also enjoyed this post from Noah Smith.
I have a bias towards Shiller in all of this because of my interests. He is a big proponent of trying to view economic phenomenon through a lens of history dependence (with the regulatory difficulties that entails) and has talked about how exciting neuroeconomics is – completely agree. However, this has nothing to do with empirical finance in of itself, as this is not my field. While I think some of the stuff is pretty cool (and remember really like GMM a few years back) I have nothing to say. Hence why you should be going back and clicking those links to Cochrane and Marginal Revolution 😉