Richard H. Thaler (1945-)

See: Decision-Making, Nobel Memorial Prize in Economic Sciences, Behavioral Economics, Behavioral Finance, Nudge Theory.

References

(Wikipedia, 2024) ⇒ https://en.wikipedia.org/wiki/Richard_Thaler Retrieved:2024-9-14.
- Richard H. Thaler (born September 12, 1945) is an American economist and the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business. In 2015, Thaler was president of the American Economic Association. Thaler is a theorist in behavioral economics who has collaborated with Daniel Kahneman, Amos Tversky, and others in further defining that field. In 2018, he was elected a member in the National Academy of Sciences. In 2017, he was awarded the Nobel Memorial Prize in Economic Sciences for his contributions to behavioral economics. ^[1] In its announcement, the Royal Swedish Academy of Sciences stated that his "contributions have built a bridge between the economic and psychological analyses of individual decision-making. His empirical findings and theoretical insights have been instrumental in creating the new and rapidly expanding field of behavioral economics." ^[2]

(Thaler, 2016) ⇒ Richard H. Thaler. (2016). “Behavioral economics: Past, present, and future.” *American Economic Review* 106(7): 1577–1600.
- NOTE: Reflects on the development of behavioral economics, examining its historical foundations, current trends, and potential future directions in addressing traditional economic assumptions.

(Thaler, 2015) ⇒ Richard H. Thaler. (2015). “Misbehaving: The Making of Behavioral Economics.” W. W. Norton & Company. ISBN:978-0-393-08094-0.
- NOTE: Recounts the author's personal and intellectual journey to help establish behavioral economics as a discipline. It discusses key concepts like irrationality, mental accounting, and the flaws in traditional economic models that assume perfectly rational behavior.

(Thaler & Sunstein, 2008) ⇒ Richard H. Thaler and Cass R. Sunstein. (2008). “Nudge: Improving Decisions About Health, Wealth, and Happiness.” Yale University Press. ISBN:978-0-300-12272-3.
- NOTE: Introduced the idea of nudge theory, exploring how small interventions can encourage better decision-making without limiting options.

(Thaler & Benartzi, 2005) ⇒ Richard H. Thaler and Shlomo Benartzi. (2005). “Save More Tomorrow: Using Behavioral Economics to Increase Employee Saving.” Journal of Political Economy, 112(S1): S164–S187.
- NOTE: This paper introduced the Save More Tomorrow program, which utilized behavioral economics to increase savings rates among employees through automatic increases in retirement contributions.