The Nobel economics prize has been awarded to Richard H Thaler of the University of Chicago for his contributions to behavioral economics.
Richard H Thaler is a Professor of Behavioral Science and Economics at University of Chicago Booth School of Business. He is the co-author (with Cass R. Sunstein) of the global bestseller Nudge (2008) in which the concepts of behavioral economics are used to tackle many of society’s major problems.
Thaler has incorporated psychologically realistic assumptions into analyses of economic decision-making, a media release by Royal Swedish Academy of Sciences said.
It is to be noted that Former Reserve Bank of India (RBI) Governor Raghuram Rajan’s name was reportedly featured in the list of probables for this year’s Nobel Prize brought out by Clarivate Analytics, a firm that maintains a list of possible Nobel Prize winners based on research citations.