The Prize in Economic Sciences 2017
nobelprize.org
The Prize in Economic Sciences 2017
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Re: The Prize in Economic Sciences 2017
#2Seems like a rational choice.
Re: The Prize in Economic Sciences 2017
#3Considering the fact that Richard Thaler made a cameo in The Big Short Movie that was primarily demeaning Wall Street Banks and Economists who played along in the crisis, itself makes him an Economist who stands out. http://www.chicagobusiness.com/article/20160226/NEWS01/16022...
Re: The Prize in Economic Sciences 2017
#4isn't the prize usually awarded to multiple people? lucky guy gets to keep all the $ then
Re: The Prize in Economic Sciences 2017
#5isn't the prize usually awarded to multiple people? lucky guy gets to keep all the $ then
25 out of 49 econ nobel prizes were awarded to one person only. https://www.nobelprize.org/nobel_prizes/facts/economic-scien...
Re: The Prize in Economic Sciences 2017
#6Excellent pick! Applied "nudge theory," or "libertarian paternalism," is proving to be the panacea for massive social change. From NYC's decision to offer free lunches for all public school students. To the design of recycle bins in Amsterdam. Simple yet intuitive communication of the optimality of rational choosing, without penalizing too harshly our irrational tendencies.
I think the next logical extension of neuroeconomics is neuropolitics. Viewing powerplays between Trump Kim or Netanyahu Putin through the lens of game theory where all actors are moving optimally toward a "win" condition provides diminishing returns. Watching leaders actions as the result of irrational biases operating with imperfect information is proving a closer model of reality.
Re: The Prize in Economic Sciences 2017
#7While his co-authored Nudge is an easy read and is probably better known, his more recent Misbehaving gives a good account of how his career and the field developed.
It’s really interesting stuff. I actually had a couple of grad courses with Thaler when he was at Cornell. I still have a draft copy of one of his earlier books in Behavioral Decision Theory somewhere.
Re: The Prize in Economic Sciences 2017
#8He has a few popular books that are worth reading. The recent Misbehaving is in part a memoir of his work.
Re: The Prize in Economic Sciences 2017
#9I always wondered if Satoshi was not anonymous, whether he would have been nominated for Economic nobel. Of course, most of the ideas were pre-existing but he did put together the final pieces. But then he could very well be behind bars now based on how the story unfolded.
Re: The Prize in Economic Sciences 2017
#10Excellent pick! Applied "nudge theory," or "libertarian paternalism," is proving to be the panacea for massive social change. From NYC's decision to offer free lunches for all public school students. To the design of recycle bins in Amsterdam. Simple yet intuitive communication of the optimality of rational choosing, without penalizing too harshly our irrational tendencies. I think the next logical extension of neuro…
> From NYC's decision to offer free lunches for all public school students.
Wait, what?! Why would the city spend money on subsidising the lunch of children with parents rich enough to send them to a public school?