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U.S. economist Richard Thaler wins Nobel prize

Monday, October 09, 2017 - 00:54

U.S. economist Richard Thaler has won the 2017 Nobel Economics Prize for his contributions in the field of behavioural economics. David Doyle reports

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(SOUNDBITE) (English) ROYAL ACADEMY OF SCIENCES SECRETARY GENERAL, GORAN K. HANSSON, SAYING: "Richard Thaler is a pioneer in integrating economics and psychology" He is credited with paving the way for a new field in economics and now U.S. academic Richard H. Thaler has been awarded a Nobel prize for his work. The economist awarded for his contributions to the field of behavioural economics - his theories showing how human traits affect supposedly rational markets. It's 'nudge' economics - where humans are subtly guided without heavy-handed compulsion. (SOUNDBITE) (English) ROYAL ACADEMY OF SCIENCES SECRETARY GENERAL, GORAN K. HANSSON, SAYING: "Thanks to his contributions and discoveries this new field has gone from being a fringe and somewhat controversial part of economic to being a mainstream area of contemporary economic research." The economics prize is the last Nobel Prize awarded this year.

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U.S. economist Richard Thaler wins Nobel prize

Monday, October 09, 2017 - 00:54