Richard Thaler wins the Nobel Memorial Prize in Economics

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Richard Thaler wins the Nobel Memorial Prize in Economics

Postby Joseph Malkevitch » Sat Oct 14, 2017 1:21 pm

Dear Colleagues,

The Nobel Memorial Prize in Economics has been awarded to Richard Thaler (economist at the University of Chicago) for his work in behavioral economics. Many approaches to economics build models based on the assumption that humans behave "rationally." Thaler's work builds on the fact that evidence shows that the rationality assumptions often don't hold, and he provides examples and explanations of what people actually do and why.

http://www.sciencemag.org/news/2017/10/ ... mics-nobel?

Regards,

Joe
Joseph Malkevitch
Department of Mathematics
York College (CUNY)
Jamaica, New York 11451

email:

malkevitch@york.cuny.edu

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http://york.cuny.edu/~malk

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