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Lars Peter Hansen

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If you simply announce that things are irrational, then that alone doesn't get you very far. You have to replace rational agents with some concrete notion of what it means to be irrational. - Lars Peter Hansen
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I think the understanding of the role of markets has really helped advance the values of entrepreneurship. It's helped shape public policy discussions in a whole variety of ways. - Lars Peter Hansen
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#Understanding
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Early on, in discussions of financial oversight, people would say, 'Well, this is a very complicated problem, therefore it requires a complicated solution.' And at that step, I would say, 'Well, wait a minute. Just because it's a complicated problem doesn't mean the best course of action immediately is one that's complicated.' - Lars Peter Hansen
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I work on the boundary between economics and statistics in this field called econometrics. Part of my interest is understanding how you use statistics in productive ways to analyze dynamic economic models. - Lars Peter Hansen
#Economics
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#How
#Statistics
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