Showing posts from October, 2017

2017 Nobel prize in Economics goes to Richard Thaler

A well-deserved Nobel prize for a man that helped establish a new field of behavioral economics , disrupted the academic milieu in the rigid field of finance, and successfully started implementing his ideas as actual policies in a number of countries (most famously through the Nudge Unit in the UK - officially Behavioural Insights Team  - set up under Cameron's administration, and the White House Social and Behavioral Science Team , set up under Obama's administration). It wouldn't be exaggerating to say that Thaler's scientific contributions were among the most applicable of all Nobel prize winning contributions in economics thus far (even more than Roth's kidney markets, Fama's EHM and Shiller's Irrational Exhuberance, or Deaton's  measurements of poverty and inequality, to name just a few most recent notable laureates).  It's been 15 years since behavioral economics has been recognized for the first time by the Nobel Committee, awardi