Robert Shiller

The Nobel Prize winner in economics may have 'nudged' you to make better choices

The Nobel Prize winner in economics may have 'nudged' you to make better choices

A University of Chicago professor whose research integrating psychology into economics has had broad influence on public policy has been awarded the Nobel Memorial Prize in economics, the Royal Swedish Academy of Sciences said Monday.

Richard H. Thaler, 72, is one of the leading scholars in the field of behavioral economics, which draws on psychological insights to understand the often irrational financial and economic choices made by individuals and institutions.

“He’s made economics more human," the Nobel committee said in announcing the prize, the last of the Nobel awards this year.

Traditional economic theory viewed the decisions people make through the lens...

EDITION: California | U.S. & World
50°