Three Americans Win Nobel Economics Prize
Three American economists were awarded the Nobel Prize in economics for their work on determining how asset prices change over time.
The Royal Swedish Academy of Sciences, in a statement Monday, named Eugene Fama, Lars Peter Hansen and Robert Shiller as recipients of the 2013 award for their "empirical analysis of asset prices."
The academy said that while it is hard to predict the price of stocks and bonds over the next few days or weeks, the work by these economists make it possible to foresee the broad course of these prices over longer periods, such as the next three to five years.
Fama and Hansen are professors at the University of Chicago, in Illinios, while Shiller teaches at Yale University in Connecticut.
Stampede Near Indian Hindu Temple Kills 110
Officials in central India have ordered a judicial inquiry into what caused the stampede on a bridge leading to a remote Hindu temple in Madhya Pradesh state that killed at least 110 people.
Authorities say 100 people were injured Sunday in the incident.
Witnesses say pilgrims panicked and began to stampede after some railings on the bridge broke, spurring rumors the bridge would collapse.
Some devotees were crushed to death under the feet of fellow worshippers, while others drowned after falling or jumping into the Sindh River.
Local media said as many as 500,000 devotees had gathered to celebrate the popular 10-day Navaratra festival at the Ratangarh temple. Many were already inside when the stampede took place.
Witnesses said the situation was made worse by police attempting to control the crowd with batons.