Richard Thaler Awarded Nobel Prize in Economics
October 9th, 2017 | posted in: Insights
by: Betsy Wills
We are so pleased with this morning’s announcement that Richard H. Thaler has been awarded the Nobel Prize in economics. His work has centered around the incorporation of the human element in economic models. He wrestles with questions such as “Why don’t people save enough for retirement?” and also co-authored with Cass R. Sunstein the global bestseller “NUDGE” available on Amazon.com.
Our own Bill Spitz outlined his and other behavioral economists’ theories in this paper, entitled “We Are Only Human”.
To hear one of Dr. Thaler’s lectures you can click on the link below.
When told of the prize money, (9 million Swedish kronor/ $1.1 million) Dr. Thaler quipped, “I’ll try to spend it as irrationally as possible.”
Congratulations to this giant of economic theory!
Read Bill Spitz’ White Paper by clicking HERE.