19 Facts About Richard Thaler


Richard H Thaler is an American economist and the Charles R Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business.


In 2015, Thaler was president of the American Economic Association.


Richard Thaler is a theorist in behavioral economics who has collaborated with Daniel Kahneman, Amos Tversky, and others in further defining that field.


Richard Thaler was born in East Orange, New Jersey to a Jewish family.


Richard Thaler's mother, Roslyn, was a teacher, and later a real estate agent while his father, Alan Maurice Thaler, was an actuary at the Prudential Financial in Newark, New Jersey, and was born in Toronto.


Richard Thaler has three children from his first marriage and is married to France Leclerc, a former marketing professor at the University of Chicago and avid photographer.


Richard Thaler studied under departmental chair and neoclassicist Richard Rosett, whose wine-buying habits were featured in his research on behavioral economics.

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Between 1977 and 1978, Richard Thaler spent a year at Stanford University collaborating and researching with Daniel Kahneman and Amos Tversky, who provided him with the theoretical framework to fit many of the economic anomalies that he had identified, such as the endowment effect.


Richard Thaler has written a number of books intended for a lay reader on the subject of behavioral economics, including Quasi-rational Economics and The Winner's Curse, the latter of which contains many of his Anomalies columns revised and adapted for a popular audience.


Richard Thaler is coauthor, with Cass Sunstein, of Nudge: Improving Decisions About Health, Wealth, and Happiness.


Richard Thaler gained some attention in the field of mainstream economics for publishing a regular column in the Journal of Economic Perspectives from 1987 to 1990 titled Anomalies, in which he documented individual instances of economic behavior that seemed to violate traditional microeconomic theory.


Richard Thaler has studied cooperation and bargaining in the UK game shows Golden Balls and Divided.


Immediately following the announcement of the 2017 prize, Professor Peter Gardenfors, Member of the Economic Sciences Prize Committee, said in an interview that Richard Thaler had "made economics more human".


Richard Thaler is a member of the National Academy of Science, the American Academy of Arts and Sciences, a Fellow of the American Finance Association, and more.


Richard Thaler writes papers that are full of common sense.


Since 1991, Richard Thaler has served as the co-director of the National Bureau of Economic Research Behavioral Economics Project.


Richard Thaler was involved in the establishment of the Behavioural Insights Team, which was originally part of the British Government's Cabinet Office but is a limited company.


Richard Thaler made a cameo appearance as himself in the 2015 movie The Big Short, which was about the credit and housing bubble collapse that led to the 2008 global financial crisis.


Richard Thaler has published over 90 papers in various sources, namely finance, business, and economic journals.