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Richard Thaler wins the Nobel Prize for his Contributions to Behavioural Economics

Geoff Riley

9th October 2017

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This is genuinely good news for our wonderful subject! One of the guiding lights behind behavioural economics has been awarded the 2017 Nobel in Economics.

Thaler is the author of Nudge and latterly wrote Misbehaving which chronicles the story of attempts to bring behavioural insights and theories into mainstream economics. Thaler of course made a cameo appearance alongside Selina Gomez in The Big Short, the oscar-winning film looking at the causes of the collapse in the US sub-prime mortgage market.

According to the Nobel Committee when making their citation:

"In total, Richard Thaler’s contributions have built a bridge between the economic and psychological analyses of individual decision-making."

Below we have brought together some of the coverage of the news that Richard Thaler has won a Nobel Prize in Economics.

Richard Thaler is an American who has just won the Nobel prize in economics. We met him last year: https://t.co/X2iBReCclo
— Financial Times (@FT) October 9, 2017

“Richard Thaler’s findings have paved the way for a new field in economics” - Per Strömberg on the impact of the 2017 Laureate’s research. pic.twitter.com/VXOC5wiSRN
— The Nobel Prize (@NobelPrize) October 9, 2017

Nobile Prize winner Richard Thaler on 'nudge' theory and diet https://t.co/0oX4bCWkfa
— BBC World Business (@BBCWorldBiz) October 9, 2017

Yes! Behavioral econ is the best thing to happen to the field in generations, and Thaler showed the way https://t.co/dgHaUAlgAq
— Paul Krugman (@paulkrugman) October 9, 2017

Richard Thaler has just won the #NobelPrize in economics. Discover his theories on the 'nudges' that manipulate us https://t.co/LL84ZPyn3q pic.twitter.com/vbA9olZI0C
— New Scientist (@newscientist) October 9, 2017

Who is Richard Thaler? https://t.co/rJJy2wju38
— The Wall Street Journal (@WSJ) October 9, 2017

Richard Thaler has won the Nobel prize for economics. He explained his "nudge theory" on the Economist asks https://t.co/Zu1N5kRVP1 pic.twitter.com/BZMHwFHiQl
— The Economist (@TheEconomist) October 9, 2017

.@TimHarford has a nice, short explanation of what this year's Nobel Laureate Richard Thaler did to win the prize:https://t.co/BpPB1yyiiR pic.twitter.com/c5SMyxr75D
— Max Roser (@MaxCRoser) October 9, 2017

Congratulations to @R_Thaler for his Nobel Prize for contributions to behavioural economics https://t.co/sKroqE5rGk
— BIT (@B_I_Team) October 9, 2017

Watch Professor Richard Thaler in The Big Short

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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Richard Thaler wins the Nobel Prize for his Contributions to Behavioural Economics

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