Congratulations to Richard Thaler, Chicago Booth’s newest Nobel laureate
Richard Thaler, the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business, was awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2017. Thaler was recognized for his seminal research in behavioral economics, which posits that people don’t always act in their best economic interests, a very different view from the traditional Chicago School of Economics. He popularized the idea of nudges, which use human behavior to nudge people into making better economic choices, such as making participation in retirement saving plans opt-out, rather than opt-in.
Many of Professor Thaler’s early articles in behavioral economics were published in the Journal of Economic Perspectives. This journal is now open access, so all articles in the journal are free to anyone. View a list of articles here.