The Nobel Prize in Economics Day

Eugene Fama became known for the market efficiency hypothesis, launched in the 60s. According to this theory, deriving from Adam Smith’s “Invisible Hand,” markers are assumed to have the capacity of self adjusting.

Jean Tirole has made several significant contributions in various fields of economic research, from the game theory and the theory of industrial organization, to a theory of incentives in procurement and regulation. Ernst Fehr gained his renown for his decisive role in the development of the field of neuroeconomics, which studied the way in which the human brain reacts in case of economic decisions.

Other famous economists are also on the list for the Nobel Prize - Paul Romer, Robert Barro, and John Taylor