Nobel Prize for 2017 has wrapped up with the announcement of the winner for Economics. Richard Thaler, One of the founding father of behavioral economics, has won the Noble Prize in Economics this year.
Thaler is a professor of Chicago Booth business school and is the co-writer of the global bestseller 'Nudge' which has described how people make bad or irritational choices.
Economist Richard Thaler during the acknowledgment speech
Source: The Economic Times
The judges of the committee said he had well demonstrated how ‘’nudging’’, the term he coined, may help people to exercise better self-control. He will receive 9 million Swedish Krona from the committee. After winning the cash prize, the 72-year-old American economist said, “I will try to spend it as irrationally as possible.”
With the Nobel Prize for Economics, the Nobel prizes for this year has wrapped up. The Nobel Prize Winners of 2017 in all categories are:
Rainer Weiss, Barry C. Barish, and Kip S. Thorne
Jacques Dubochet, Joachim Frank, and Richard Henderson
Physiology or Medicine
Jeffrey C. Hall, Michael Rosbash, and Michael W. Young
International Campaign to Abolish Nuclear Weapons (ICAN)
Richard H. Thaler
The Nobel Prize for economics is not among the Noble Foundation’s official awards, however, it was established separately by Sweden’s central bank, Sveriges Rikbank, in memory of its original founder and chemist Alfred Bernhart Nobel.