Cowles Foundation for
Research in Economics
Tjalling C. Koopmans
September 23 24
Tuesday, September 23
"Long-Term Components of Risk Prices"
Luce Hall Auditorium
4:00 5:30 pm
Reception immediately following
Dinner, location to be determined
Wednesday, September 24
"Fragile Beliefs and Pricing"
Common Room, 28 Hillhouse
12:00 1:15 pm
Homer J. Livingston Distinguished Service
Professor of Economics
Lars Hansen has been published in numerous journals, most recently "Beliefs,
Doubts and Learning," "Robust Estimation and Control Without Commitment"
with T. J. Sargent, "Consumption Strikes Back?: Measuring Long Run Risk" with
J.C. Heaton and N. Li, "Long Term Risk: an Operator Approach" with J.
Scheinkman. He co-authored the book Robustness.
He is the recipient of the 2006 Erwin Plein Nemmers Prize in Economics from Northwestern
University, a Faculty Award for Excellence in graduate teaching from the University of
Chicago, and co-winner of the Frisch Medal from the Econometric Society. He is on the
thesis committee for numerous students.
He is a member of the National Academy of Sciences and American Academy of Arts and
Sciences, a fellow of the Econometric Society, and an NORC Research Associate for the
Economics Research Center. Hansen is a former John Simon Guggenheim Memorial Foundation
Fellow and Sloan Foundation Fellow. He is also the former director of graduate studies and
chairman of the University of Chicago's Department of Economics. He has also taught at the
Massachusetts Institute of Technology, Harvard University, and Stanford University.
Hansen earned a bachelor's degree in mathematics from Utah State University and a PhD in
economics from the University of Minnesota.
1, Associated papers:
- "Consumption Strikes Back? Measuring Long-Run Risk,"
Lars Peter Hansen and John C. Heaton, University of Chicago and National Bureau of
Economic Research, with Nan Li, National University of Singapore. Journal of Political
Economy (April 2008), 116(2): 260-302.
(http://www.journals.uchicago.edu/doi/full/10.1086/588200) (Published in Journal of
- "Long Term Risk: an Operator Approach," with J.
Scheinkman (June 18, 2008). (Forthcoming in Econometrica.)
- "Modeling the Long Run: Valuation in Dynamic Stochastic
Economies," Lars Peter Hansen, University of Chicago and National Bureau of
Economic Research (August 5, 2008)
Lecture 2, Associated papers:
- Richard T. Ely Lecture: "Beliefs, Doubts and Learning:
Valuing Macroeconomic Risk," by Lars Peter Hansen, The American Economic
Review (May 2007), 97(2): 1-30.
- "Recursive Robust Estimation and Control without Commitment,"
Lars Peter Hansen and Thomas J.Sargent, Journal of Economic Theory, 2007, 136(1):
- "Fragile Beliefs and the Price of Model Uncertainty,"
Lars Peter Hansen and Thomas J. Sargent (August 26, 2008)