Lars Peter Hansen and Robert Langlands are the recipients of the 2006 Nemmers Prizes in economics and mathematics, Northwestern University announced.
The prizes -- believed to be the largest U.S. monetary awards for outstanding achievements in the two disciplines -- are given to scholars who make major contributions to new knowledge or the development of significant new modes of analysis, university officials said. Each prize carries a $150,000 stipend.
Hansen, an economics professor at the University of Chicago, received his award "for rigorously relating economic theory to observed macroeconomic and asset market behavior and for innovations in modeling optimal policy under uncertainty."
Langlands, a professor of mathematics at the Institute for Advanced Study in Princeton, N.J., was honored for his "fundamental vision connecting representation theory, automorphic forms and number theory."
The Nemmers Prizes are made possible through bequests from the late Erwin Nemmers, a former member of the Northwestern University faculty, and his brother, the late Frederic Nemmers, both of Milwaukee. The prizes are awarded every other year.
Copyright 2006 by United Press International