Former RBI Governor Raghuram Rajan was one of the front-runners to win the Nobel Prize in Economics. Unfortunately, He missed out the opportunity to create history.
American Economist Richard Thaler bagged the prestigious Nobel Prize in Economics for his contribution in bridging the gap between Economics & Psychology. His expertise in behavioral economics is something which really makes him a deserving winner. He showed how nudging, a word he coined, helps people achieve better self-control.
The Nobel Committee opined: 'Richard Thaler's contributions have built a bridge between the economic and psychological analyses of individual decision-making. His insights help us recognise marketing tricks and avoid bad economic decisions'.
Not many knew, Richard Thaler played a cameo in the film 'The Big Short' in which he explains 'Hot Hand Fallacy'.
American Economist Richard Thaler bagged the prestigious Nobel Prize in Economics for his contribution in bridging the gap between Economics & Psychology. His expertise in behavioral economics is something which really makes him a deserving winner. He showed how nudging, a word he coined, helps people achieve better self-control.
The Nobel Committee opined: 'Richard Thaler's contributions have built a bridge between the economic and psychological analyses of individual decision-making. His insights help us recognise marketing tricks and avoid bad economic decisions'.
Not many knew, Richard Thaler played a cameo in the film 'The Big Short' in which he explains 'Hot Hand Fallacy'.