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Thursday October 19, 2017 01:07 PM

US economist Richard Thaler wins Nobel economics prize

  • Published at 04:18 PM October 09, 2017
  • Last updated at 05:03 PM October 09, 2017
US economist Richard Thaler wins Nobel economics prize
Photo of Richard H Thaler is displayed on the screen during the announcement of the winner of the Nobel Prize in economic sciences 2017, officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, during a press conference in Stockholm, Sweden, October 9, 2017 Reuters

The economics prize, officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968

US economist Richard Thaler won the 2017 Nobel Economics Prize for his contributions in the field of behavioural economics, the Royal Swedish Academy of Sciences said on Monday.

“In total, Richard Thaler’s contributions have built a bridge between the economic and psychological analyses of individual decision-making.

“His empirical findings and theoretical insights have been instrumental in creating the new and rapidly expanding field of behavioural economics, which has had a profound impact on many areas of economic research and policy,” the award-giving body said on announcing the SEK9m.

The economics prize, officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968. It was not part of the original group of awards set out in dynamite tycoon Nobel’s 1895 will.

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