Thaler, Richard

Richard Thaler is an economist known for integrating psychological insights into economic theory, creating the field of behavioral economics. He examines how human habits, biases, and emotions influence financial decision-making, often leading people to act inconsistently with traditional economic predictions. His work highlights how understanding real human behavior can improve policies, markets, and personal finances. Thaler’s contributions have helped explain phenomena like saving less than optimal amounts or making emotionally driven investment choices, ultimately enriching our understanding of economic behavior beyond classical models.