Richard H. Thaler (Nobel Laureate)

Richard H. Thaler is a Nobel Prize-winning economist known for his work in behavioral economics, which combines psychology with economic analysis. He studies how human behaviors, biases, and emotions influence financial decisions, often deviating from traditional rational models. Thaler’s insights have helped explain why people sometimes make irrational choices, like saving less for retirement or overpaying for certain products. His research has influenced policies to improve decision-making and economic outcomes, emphasizing that understanding human behavior is crucial for designing better financial systems and public policies.