Saturday, February 24, 2018
   
Text Size

Site Search powered by Ajax

US academic Richard Thaler wins Nobel economics prize

University of Chicago academic wins the 2017 Nobel Prize for economics for his 'profound impact' on economic research.

US academic Richard Thaler

US academic Richard Thaler has been awarded this year's Nobel Prize in economics for his contribution to behavioural economics. 

Thaler, a professor at the University of Chicago, won the $1.1m prize on Monday for his "understanding [of] the psychology of economics" and "profound impact on many areas of economic research and policy", the Nobel committee said. 

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

Speaking by phone at a news conference after he was announced as this year's winner, Thaler said the most significant impact of his work has been creating a "recognition that economic agents are human".

He added that he intends to use the prize money to support further research.

"I will say that I will try to spend it as irrationally as possible," he said.

Since it was first awarded in 1969, Americans have dominated the economics prize, with 56 of the 79 laureates holding US citizenship, including those who have dual nationalities.

The Swedish National Bank Prize in Economic Sciences in Memory of Alfred Nobel was first granted to its first recipients, Ragnar Frisch of Norway and Jan Tinbergen of the Netherlands,  almost 70 years after the series of prestigious prizes that Nobel helped establish through funding set aside in his will.

Despite this, the economics prize is widely considered to be an equal to the other Nobel awards. 


blog comments powered by Disqus

Subscribe via RSS or Email:

First bitcoin robbery in Taiwan lea...

Read More

What is Venezuela's new petro crypt...

Read More

Air Italy expands as UAE-backed Ali...

Read More

Venezuelan firm offers eggs as 'mot...

Read More

Donors pledge $30bn for Iraq's post...

Read More

Google, Samsung, EU invest in Belgi...

Read More

Global_News

Donation

Thanks to all of our supporters for your generosity and your encouragement of an independent press!

Enter Amount:

Featured_Author

Login






Login reminder Forgot login?

Subscribe to MWC News Alert

Email Address

Subscribe in a reader Facebok page Twitter page

Week in Pictures

From snowfall to sunshine

Palestinians hold 'day of rage'