Congratulations to Nobel Prize winner Richard Thaler!






No one should be surprised and everyone should be pleased that Richard Thaler It has won the Nobel Prize in Economics this year. Congratulations!

Thaler is an important reason why I became personally interested in economics. (I’ve known him a little longer than I’ve known Steve Levitt.) He has everything that one can admire in a scientist and thinker: original, reasonable, crafty and more than sardonic. (My only concern is that many years ago he turned me down when I wanted to write a book with him.)

Without Thaler, the world would know much less about work Kahneman as well as Tverskoybecause he was the first (and almost the only) economist interested in using the power of his research to make decisions. Without Thaler, behavioral economics would by no means now become a standard tool in the arsenal of politicians (and, of course, not only).

He has appeared on this blog many times over the years; You can try these pieces here.

He was also on Freakonomics Radio podcast several times, including “Fighting poverty with real evidence“As well as”Should we really behave the way the economists say?

As well as here New York Times a piece I wrote about Thaler and other behaviorists back in 2003, shortly before his promotion of “libertarian paternalism” began.

Among his books: influential push; revealing Bad behavior; and often overlooked Curse of the winnerwhich I happened to dive into just last week for fun, and, as always, I was overwhelmed by Thaler’s perfectly sound view of the world.

Great job Prize Committee in Economic Sciencesand well done, Dick Thaler!