The 2017 Nobel Prize in economics has been awarded to University of Chicago professor Richard H. Thaler - Rickey J. White, Jr. | RJW™
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The 2017 Nobel Prize in economics has been awarded to University of Chicago professor Richard H. Thaler

09 Oct The 2017 Nobel Prize in economics has been awarded to University of Chicago professor Richard H. Thaler

Posted at 06:02h in Popular Newsfeed by
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Thaler won the coveted award for his contributions to behavioral economics.

In a statement the Royal Swedish Academy of Sciences said:

“Thaler has incorporated psychologically realistic assumptions into analyses of economic decision-making. By exploring the consequences of limited rationality, social preferences, and lack of self-control, he has shown how these human traits systematically affect individual decisions as well as market outcomes . . . 

“In total, Richard Thaler’s contributions have built a bridge between the economic and psychological analyses of individual decision-making. His empirical findings and theoretical insights have been instrumental in creating the new and rapidly expanding field of behavioural economics, which has had a profound impact on many areas of economic research and policy.”


Source: Fast Company

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