Behavioral economics
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Behavioral economics is the study of the psychological factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by traditional economic theo
Adam Smith, author of The Wealth of Nations (1776) and The Theory of Moral Sentiments (1759)
Herbert A. Simon, winner of the 1975 Turing award, the 1978 Nobel Prize in economics, and the 1988 John von Neumann Theory Prize
Daniel Kahneman, winner of the 2002 Nobel Prize in economics
Richard Thaler
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Richard H. Thaler is an American economist and the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business. In 201
Behavioral economics
…coalitions of groups whose targets were based on satisficing rather than optimizing behaviour. Another treatment of this idea comes from Cass Sunstein and Richard Thaler's Nudge. Sunstein and Thaler recommend that choice architectures are modified in light of human agents' bounded rationality. A widely cited proposal…
Thaler in 2015
Richard H. Thaler during Nobel Prize press conference in Stockholm, December 2017
A Cornell University mug used in Thaler's experiments on Endowment Effect, donated to the Nobel Prize Organisation