Published: Oct 9, 2017 6:09 am ET
Richard Thaler, professor of behavioral science and economics at the University of Chicago Booth School of Business, has won the Nobel Prize in Economic Sciences for 2017. “In total, Richard Thaler’s contributions have built a bridge between the economic and psychological analyses of individual decision-making,” said the Royal Swedish Academy of Sciences, in handing out the prize, according to a press release on Monday. See also Richard Thaler: Here’s the best investing strategy. Thaler is considered one of the founding fathers of behavioral economics. See six books recommended by Thaler.
***Behavioral economics, along with the related sub-field behavioral finance, studies the effects of psychological, social, cognitive, and emotional factors on theeconomic decisions of individuals and institutions and the consequences for market prices, returns, and resource allocation, although not always that narrowly, …