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Topics: Economics, Nobel Laureate, Nobel Prize
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2017 was awarded to Richard H. Thaler "for his contributions to behavioural economics".
Integrating economics with psychology
Richard H. Thaler has incorporated psychologically realistic assumptions into analyses of economic decision-making. By exploring the consequences of limited rationality, social preferences, and lack of self-control, he has shown how these human traits systematically affect individual decisions as well as market outcomes.
Link: 2017 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel