Richard H. Thaler

Richard H. Thaler is an influential American economist known for his pioneering work in behavioral economics, which combines insights from psychology and economics to understand how people make financial decisions. He has contributed to concepts like "nudging," which involves subtly influencing people's choices to improve their decision-making without restricting options. Thaler won the Nobel Prize in Economic Sciences in 2017 for his research, demonstrating that people often act irrationally in predictable ways. His work has important implications for public policy, finance, and personal decision-making, emphasizing that human behavior often deviates from traditional economic theories based on rationality.