Quick Info
| Profession | Economist |
|---|---|
| Nationality | American |
| Date of Birth | 12/09/1945 |
| Age | 80 years |
| Birthplace | East Orange, New Jersey |
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Bio/Wiki
| Full Name | Richard H. Thaler |
|---|---|
| Summary | Richard H. Thaler is an American economist and pioneer in behavioral economics who won the 2017 Nobel Memorial Prize in Economic Sciences for his contributions to the field. He is renowned for bridging economics and psychology, demonstrating how human behavior systematically departs from the rational actor model. His work has had profound practical impact through concepts like the endowment effect, mental accounting, loss aversion, and choice architecture. |
Physical Stats & More
| Height | 173 cm |
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| Weight | 70 kg |
| Eye Color | Dark Brown |
| Hair Color | White |
Educational Qualification(s)
| Ph.D. | University of Rochester, Rochester, New York (1974) - Thesis: 'The Value of Saving A Life: A Market Estimate' under supervision of Sherwin Rosen |
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| Bachelor's Degree | Case Western Reserve University, Cleveland, Ohio (1967) |
| Master's Degree | University of Rochester, Rochester, New York (1970) |
Personal Life
| School | Newark Academy, Livingston, Essex County, New Jersey |
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Relationships & More
| Marital Status | Married |
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| Spouse |
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| Children | Daughter - 1 |
Family
| Religion | Christianity |
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Career
| Debut | Book Writing: The Psychology of Choice and the Assumptions of Economics (1987) |
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| Notable Achievements | 2017 Nobel Memorial Prize in Economic Sciences for contributions to behavioral economics, Member of the National Academy of Sciences (elected 2018), Co-author of bestselling book 'Nudge: Improving Decisions About Health, Wealth, and Happiness' (2008) with Cass Sunstein, Author of 'Misbehaving: The Making of Behavioral Economics' (2015), Advisor to UK's Behavioral Insight Team (Nudge Unit) established in 2010 |
| Current Position | Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics Emeritus at University of Chicago Booth School of Business |
| Key Research Areas | Behavioral economics, behavioral finance, psychology of decision-making, choice architecture, libertarian paternalism, endowment effect, mental accounting, loss aversion, present bias |
Favourites
| Favorite Psychologist | Daniel Kahneman |
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| Favorite Economists | Herbert Simon, Robert Lucas Jr. |
Some Lesser Known Facts
| 1. Regular column in Journal of Economic Perspectives as 'Anomalies' during 1987-1990. | |
| 2. Co-authored the book 'Nudge: Improving Decisions About Health, Wealth, and Happiness' with Cass Sunstein. | |
| 3. Had a cameo appearance in the 2015 movie, The Big Short. | |
| 4. Founder of Fuller & Thaler Asset Management. | |
| 5. Spent a year at Stanford University (1977-1978) collaborating with Daniel Kahneman and Amos Tversky, who provided theoretical framework for his economic anomalies research. | |
| 6. 'Nudge' was ranked Best Book of the Year by The Economist and Financial Times. | |
| 7. 'Misbehaving' was named one of the six most influential business books of 2015 by Financial Times. |