Economics Nobel winner Thaler shed light on how real people behave
University of Chicago scholar Richard Thaler was honored with the 2017 Nobel Prize in economics for his work questioning traditional assumptions that markets act rationally, and for taking...
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JUDY WOODRUFF: Now a look at the winner of this year's Nobel Prize in economics, announcedtoday.Richard Thaler is a professor at the University of Chicago's Booth School of Business.The award acknowledged his groundbreaking work in establishing the field of behavioraleconomics, which blends psychology with economics to better understand human decision-making.We start with a little bit of background from our economics correspondent, Paul Solman.It's part of his weekly series Making Sense.PAUL SOLMAN: In Chicago's Millennium Park two-and-a-half years ago, Richard Thaler,the academic revolutionary who won this year's Nobel Prize for insisting, for decades now,that his field, economics, is wedded to distorted view of human behavior.Eco...
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JUDY WOODRUFF: Now a look at the winner of this year's Nobel Prize in economics, announcedtoday.Richard Thaler is a professor at the University of Chicago's Booth School of Business.The award acknowledged his groundbreaking work in establishing the field of behavioraleconomics, which blends psychology with economics to better understand human decision-making.We start with a little bit of background from our economics correspondent, Paul Solman.It's part of his weekly series Making Sense.PAUL SOLMAN: In Chicago's Millennium Park two-and-a-half years ago, Richard Thaler,the academic revolutionary who won this year's Nobel Prize for insisting, for decades now,that his field, economics, is wedded to distorted view of human behavior.Eco...
