7 Richard Thaler Columns That Explain How Human Behavior Affects Economics
- 7 years ago
7 Richard Thaler Columns That Explain How Human Behavior Affects Economics
Instead, he said that he has practiced behavioral economics — which holds
that imperfect humans don’t fit neatly into classic economic models — and that his body of work has explored the intersection between human quirks and economic forces.
Mr. Thaler wrote that we know how to fix much of the retirement problem, and we can afford to,
but need to figure out ways to help people who are just dropping the ball.
Mr. Thaler embraced the use of nudges to encourage people to act in their own best interests, and he provided some real-life examples.
In a traditional economist’s view, hungry shoppers are not subconsciously influenced by their stomachs to buy more food,
and most people are inclined to think of cash as the best gift idea.
Richard H. Thaler, who won the 2017 Nobel Memorial Prize in Economic Science, is no stranger to our pages.
Instead, he said that he has practiced behavioral economics — which holds
that imperfect humans don’t fit neatly into classic economic models — and that his body of work has explored the intersection between human quirks and economic forces.
Mr. Thaler wrote that we know how to fix much of the retirement problem, and we can afford to,
but need to figure out ways to help people who are just dropping the ball.
Mr. Thaler embraced the use of nudges to encourage people to act in their own best interests, and he provided some real-life examples.
In a traditional economist’s view, hungry shoppers are not subconsciously influenced by their stomachs to buy more food,
and most people are inclined to think of cash as the best gift idea.
Richard H. Thaler, who won the 2017 Nobel Memorial Prize in Economic Science, is no stranger to our pages.