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Although his first writings on behavioral economics appeared in 1980, Thaler became more prominent between 1987 and 1990 when he wrote a regular column called “Anomalies”, published in the Journal of Economic Perspectives. In his column he wrote on a myriad of subjects that illustrated the ways in which human behavior seemed to violate traditional economic theories. These columns were later published in the collection The Winner's Curse.
Daniel Kahneman later cited his joint work with Thaler as a “major factor” in his receiving the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. Commenting on the prize, he said, “The committee cited me ‘for having integrated insights from psychological research into economic science'. Although I do not wish to renounce any credit for my contribution, I should say that in my view the work of integration was actually done mostly by Thaler and the group of young economists that quickly began to form around him.”
Thaler is currently the Ralph and Dorothy Keller Distinguished Service Professor of Behavioral Science and Economics, and Director of the Center for Decision Research, Graduate School of Business, University of Chicago. He previously taught at Cornell University and MIT.
One reasons that hardware stores are my favourite stores is that I get to view hundreds of solutions to common problems. Read morePublished 7 months ago by Lee Wood
This put was like putting on a new set of glasses then going out into the world. Everything is a series of nudges including raising children.Published 8 months ago by Ryan Castle
Very interesting - validates my belief that most people make decisions based on emotion and then back them up based on facts. We are just not as "Vulcan" as we think we are!Published on Feb. 11 2010 by Aviva Shiff