Three American scientists won the 2013 economics Nobel prize on Monday "for their empirical analysis of asset prices," the award-giving body said.
The Royal Swedish Academy of Sciences gave the 8 million crown ($1.25 million) prize to Eugene Fama, Lars Peter Hansen and Robert Shiller, Reuters reported.
The economics prize, officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968. It was not part of the original group of awards set out in dynamite tycoon Nobel's 1895 will.