Richard Thaler

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Nobel Economics Winner Knows Your Money Decisions Aren't Rational

Richard Thaler wins the Nobel

(Newser) - The winner of the Nobel economics prize says the most important impact of his work is "the recognition that economic agents are humans" and money decisions are not made strictly rationally. Richard Thaler , of the University of Chicago, was speaking in a phone call to a news conference... More »

Obama Brain Trust's Key 'Ism' Is Pragmatism

Team of behavioral economists bucks convention, ideology

(Newser) - Barack Obama’s brain trust leans heavily on behavioral economics, the New Republic reports, with academics who start small in their analyses—looking at everyday anomalies—and are relatively ideology-free pragmatists. From his top economic adviser to his health-care and Social Security aides, Obama is surrounded not by "big-think... More »

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