The Father of behavioral economic from USA Richard Thaler is awarded the Nobel Prize for Economic Science 2017
This year's Nobel Prize in Economics given to US economist Richard Thaler, one of the founding fathers of behavioral economics.
Born 12 September 1945, an American economist and also the Ralph and Dorothy distinguished service Professor Thaler from the University of Chicago Booth, is lately known for his book co-writen called Nudge, a book which thoroughly explains the conceptual use of economics in human life.The bestseller Nudge uses behavioral economic science to tackle many of society's major problems. The Nobel laureante Prof. Richard had vast research and theory on behaviroul economics science. The Nobel prize panel said his work had contributed to an understanding of the psychology of economics.
The Nobel Prize in economics is the outcome of Sveriges Riksbank; Sweden's central bank initiative in the year 1968 on the occasion of the bank's 300th anniversary. The Nobel Prize in Economic Science in Memory of Alfred Nobel, the founder of Nobel Prize. The first prize in Economics Science awarded to Ragnar Frisch and Jan Tinbergen in the year 1969.
Lecture by Richard Thaler on Behavioral Economics (2016): ”Past, Present and Future” https://t.co/INizStIX9n— The Nobel Prize (@NobelPrize) October 9, 2017
Members of the Academy gather before the voting for this year’s Prize in Economic Sciences ! #NobelPrize