header banner
WORLD

Nobel economics prize awarded to Richard Thaler

STOCKHOLM, Oct 9: The Nobel economics prize has been awarded to American economist Richard H. Thaler of University of Chicago for his contributions to behavioral economics.
By Associated Press

STOCKHOLM, Oct 9: The Nobel economics prize has been awarded to American economist Richard H. Thaler of University of Chicago for his contributions to behavioral economics.  


The prize was awarded for “understanding the psychology of economics,” Swedish Academy of Sciences secretary Goeran Hansson said on Monday.


Related story

2 Nobel laureates have some Nepal connection


The Nobel committee said Thaler’s work shows how human traits affect individual decisions as well as market outcomes.


Thaler “is a pioneer in behavioral economics, a research field in which insights from psychological research are applied to economic decision making,” a background paper from the academy said. That “incorporates more realistic analysis of how people think and behave when making economic decisions,” it said.


 

Related Stories
WORLD

Banking crisis breakthroughs win Nobel economics p...

WORLD

Americans Milgrom, Wilson win Nobel prize in econo...

WORLD

Americans Nordhaus, Romer win Nobel Economics Priz...

WORLD

Economics Nobel honours 'natural experiments', fro...

Lifestyle

I will be at Nobel Prize ceremony, if I can: Bob D...