Richard Thaler, the man behind “nudge” economics, has been awarded the Nobel Prize in Economic Sciences for his work on incorporating insights from psychology into economic theory and policymaking.
The award, which is officially known as the Sveriges Riksbank Prize in memory of Alfred Nobel, was awarded to Prof Thaler for his “contribution to behavioural economics”, the prize committee said.
The US economist co-wrote the global bestseller Nudge, which explores issues such as how people can be given incentives to make more rational decisions.
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