Rate My Professor Lars Hansen

Hansen is recognized as a leading expert in economic dynamics, with research spanning time series econometrics, asset pricing, quantitative dynamic equilibrium models, and decision-making under uncertainty and ambiguity. His development of the Generalized Method of Moments framework revolutionized empirical analysis of asset prices and macroeconomic models. This work earned him the 2013 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, shared with Eugene Fama and Robert Shiller. Other major awards include the 2010 BBVA Foundation Frontiers of Knowledge Award in Economics, Finance, and Management; the 2008 CME Group-MSRI Prize in Innovative Quantitative Applications; the 2006 Erwin Plein Nemmers Prize in Economics; and the 1984 Frisch Medal for “Generalized Instrumental Variables Estimation of Nonlinear Rational Expectations Models” co-authored with Kenneth J. Singleton. Elected Fellow of the Econometric Society in 1984 and its President in 2007, Hansen is also a member of the National Academy of Sciences (1999) and the American Academy of Arts and Sciences (1993), and a Fellow of the American Finance Association. Notable publications include “Risk, Ambiguity, and Misspecification: Decision Theory, Robust Control, and Statistics” (2023, Journal of Applied Econometrics) with Thomas J. Sargent; “Uncertainty Spillovers for Markets and Policy” (2021, Annual Review of Economics); and “Central Banking Challenges Posed by Uncertain Climate Change and Natural Disasters” (2022, Journal of Monetary Economics). His methodologies continue to shape understanding of risk, financial markets, and policy implications amid uncertainty.