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3 Americans win economics Nobel Memorial Prize in Economic Sciences

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STOCKHOLM (AP) -- Americans Eugene Fama, Lars Peter Hansen and Robert Shiller have won the Nobel Memorial Prize in Economic Sciences.

The Royal Swedish Academy of Sciences on Monday honored the three "for their empirical analysis of asset prices."

The Nobel committees have now announced all six of the annual $1.2 million awards for 2013.

The economics award is not a Nobel Prize in the same sense as the medicine, chemistry, physics, literature and peace prizes, which were created by Swedish industrialist Alfred Nobel in 1895.

Sweden's central bank added the economics prize in 1968 as a memorial to Nobel.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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