RICHARD H. THALER is the father of behavioral economics—the study of how thinking and emotions affect individual economic decisions and the behavior of markets. He investigates the implications of relaxing the standard economic assumption that everyone in the economy is rational and selfish, instead entertaining the possibility that some of the agents in the economy are sometimes human.
Thaler is the Ralph and Dorothy Keller Distinguished Service Professor of Behavioral Science and Economics at Chicago's Booth School of Business and director of the University of Chicago’s Center for Decision Research. He is coauthor (with Cass Sunstein) of Nudge: Improving Decisions About Health, Wealth, and Happiness, and author of Misbehaving.
Thaler is the recipient of the 2017 Nobel Memorial Prize in economic science.
Daniel Kahneman & Richard Thaler at Edge retreat, Spring Mountain Vineyard, August 2013
