Richard Thaler Wins Nobel Prize for Work in Behavioral Economics

Matt Weingarden, Curator
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Richard Thaler, Nobel Prize Winner
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‚ÄčThaler wins Nobel Prize in Economics

Richard H. Thaler has been awarded the Sveriges Riksbank Prize in Economic Sciences (Nobel Prize in Economics) for his work integrating economics with psychology and in doing so built scholarly bridges between economic and pyschological analyses of decision-making. 

His scholarly contributions in areas of limited rationality, social preferences, and self-control have been widely cited within AMA's marketing journals. In addition, his theories have widely influenced strategies employed in the marketplace by firms large and small.

Thaler is the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business. He is author and co-author of several books and numerous academic articles including, Misbehaving: The Making of Behavioral Economics (2015) and Nudge (2008).

Listen to Thaler describe the concept of nudging in this University of Chicago produced clip:

 

 Richard H. Thaler

 

Here's a brief description of behavioral economics from Duke University marketing professor Dan Ariely who has been published in AMA journals over a dozen times.

 

 Behavioral Economics

 



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Matt Weingarden, Curator
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