Lars Peter Hansen - Nobel Laureates Series

“Uncertainty in Economics: Why should we care?”

Lars Peter Hansen is an internationally known leader in economic dynamics and recipient of the 2013 Nobel prize, which he shared with Professors Eugene Fama and Robert Shiller. Hansen was one of the forces behind the 2008 creation of the Milton Friedman Institute, the predecessor of this institute and served as its founding director.

Hansen is known for making fundamental advances in our understanding of how economic agents cope with changing and risky environments. He has contributed to the development of statistical methods designed to explore the interconnections between macroeconomic indicators and assets in financial markets.

In Professor Hansen’s own words, "Thinking about uncertainty in broader terms opens the door to a more sensible approach to thinking about economic policy design, and it allows the public to accept the fact that a discipline like economics doesn’t have answers to everything."