From: The New York Times

Nobel in Economics Is Awarded to Richard Thaler

The New York Times:

Richard H. Thaler, whose work has persuaded many economists to pay more attention to human behavior, and many governments to pay more attention to economics, was awarded the Nobel Memorial Prize in Economic Sciences on Monday.

Professor Thaler is the rare economist to win a measure of fame before winning the prize. He is an author of a best-selling book, “Nudge,” about helping people to make better decisions. He also appeared in the 2015 film “The Big Short,” delivering what is surely one of the most widely viewed tutorials in the history of economics, on the causes of the 2008 financial crisis.

The economics prize was established in 1968 in memory of Alfred Nobel by Sweden’s central bank and is awarded by the Royal Swedish Academy of Sciences. One of Professor Thaler’s frequent collaborators, Daniel Kahneman, was awarded the prize in 2002.

Read the whole story: The New York Times


I was surprised that the TV coverage of Thaler’s Nobel did not mention the much earlier award to Herbert Simon who made many of the same points re economists’ assumption of complete rationality.

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