The Consequences of Uncertainty
April 1, 2014: 5:00 PM - 6:45 PM
Come hear Professor Hansen, the research director of the Becker Friedman Institute, discuss the foundations of his prize-winning work and current research on risk and uncertainty.
The University of Chicago Booth School of Business Europe Campus Woolgate Exchange
25 Basinghall St.
London, United Kingdom
How do investors, consumers, and enterprises cope with uncertainty about the economic future? How do researchers and policy makers incorporate this uncertainty into their models? How do risks and uncertainty in the financial sector influence the economy as a whole?
Lars Peter Hansen has dedicated his career to exploring such questions. He won the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for his work, which shapes our understanding of asset prices. Still fascinated with uncertainty, he continues to study its impact, particularly in the linkages between financial markets and the macroeconomy.
Come hear Professor Hansen, the research director of the Becker Friedman Institute, discuss the foundations of his prize-winning work and current research. He will share his views on how better models to measure risk and uncertainty are essential for financial market oversight, fiscal policy, and the global economy.
Lars Peter Hansen (Speaker)
Becker Friedman Institute Research Director
Lars Peter Hansen is an internationally known leader in economic dynamics who works at the boundary of economics and statistics. He was recently awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for his early research. Hansen shares this honor with Eugene Fama and Robert Shiller.
Hansen's recent work focuses on uncertainty and its relationship to long run risks in the macro economy. He explores how models that incorporate ambiguities, beliefs, and skepticism of consumers and investors can explain economic and financial data and reveal the long-term consequences of policy options. Hansen and coauthors have recently developed methods for modeling economic decision-making in environments in which uncertainty is hard to quantify. They explore the consequences for models with financial markets and characterize environments in which the beliefs of economic actors are fragile.
He holds a bachelor's degree in mathematics and political science from Utah State University and a doctorate in economics from the University of Minnesota. Hansen also received an honorary doctorate from Utah State University in 2012.
Managing Director--Programs and Outreach