The Predictably Irrational Economist Economists long believed that people were rational actors — that they would spend their money in the most efficient way possible. However, Richard Thaler, along with fellow Nobel laureate Daniel Kahneman, was one of the few researchers willing to question that orthodoxy. Thaler’s creativity in pursuit of the truth led him…
American economist Richard Thaler won the 2017 Nobel Economics Prize for his contributions in the field of behavioral economics, the Royal Swedish Academy of Sciences said on Monday. “In total, Richard Thaler’s contributions have built a bridge between the economic and psychological analyzes of individual decision-making,” the award-giving body said on announcing the 9 million…
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