From: NPR
Episode 803: Nudge, Nudge, Nobel
November 8, 2017
Economists used to assume that people were, overall, rational. They may make mistakes now and then, but, if reasonably informed, they do the right thing. Then came Richard Thaler, who, in October, was awarded the Nobel Prize in Economics.
While Thaler was teaching at the University of Rochester, he had a side gig. Not a lot of people knew about it or took it seriously. He would catalog ways people behaved irrationally. And Thaler thought, there must be a way to make sense of this behavior, to understand it and to predict it. This list led him to psychologists Daniel Kahneman and Amos Tversky.
Read the whole story (subscription may be required): NPR
More of our Members in the Media >
APS regularly opens certain online articles for discussion on our website. Effective February 2021, you must be a logged-in APS member to post comments. By posting a comment, you agree to our Community Guidelines and the display of your profile information, including your name and affiliation. Any opinions, findings, conclusions, or recommendations present in article comments are those of the writers and do not necessarily reflect the views of APS or the article’s author. For more information, please see our Community Guidelines.
Please login with your APS account to comment.