For 2nd year, no women among Nobel Prize winners

11 October, 2017, 00:25 | Author: Terri Saunders
  • US Economist who supports demonetisation won Nobel Prize: Outstripping former RBI governor who never favoured Note ban in India

Thaler was awarded the Nobel Prize 2017 for Economics - officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.

Once considered an outlier, behavioral economics today has become part of generally accepted economic thinking, in large part thanks to Thaler's ideas.

Thaler “is a pioneer in behavioral economics, a research field in which insights from psychological research are applied to economic decision making, ” a background paper from the academy said.

The 72-year-old takes home a nine million kronor (944,000 euros, $1.1 million) prize sum.

"I think the most important impact (of my research) is the recognition that economic agents are human and economic models have to incorporate that", Thaler, a professor at the University of Chicago Booth School of Business, said in call broadcast at the Nobel news conference.

Man on Sydney high-rise balcony above body
Luke Bladen Williams Hamilton said he tried to establish there was "no sign of life", but soon realised the woman was dead. At 7.20pm, the man was "pounced on" and "grabbed" by members of the NSW Police Rescue Squad and taken into custody.


The academy also cited Thaler's work with Cass Sunstein and their 2008 book, Nudge: Improving Decisions about Health, Wealth, and Happiness, which the idea of "libertarian paternalism" where beneficial changes in behavior can be achieved by "minimally invasive policies" that nudge people to make the right decisions for themselves.

Asked how he would spend his prize money, Thaler said: "I will spend it as irrationally as possible".

However, when Thaler was informed by a tweep that the BJP-led NDA government had chose to introduce Rs 2000 notes in a remonetisation effort, the Nobel laureate said, "Really?"

The Royal Swedish Academy of Sciences announced the Nobel Prize 2017 award Monday.

The economics prize is unique among the Nobel awards in that it was created by the Swedish central bank in 1968 - the others were all set up through the 1895 will of Swedish inventor and philanthropist Alfred Nobel.

Recommended:



Popular

Royals give biggest grant ever to digital mental health scheme
Since Harry left the military, he has made campaigning over mental health issues and the fate of veterans two of his priorities. The investment will be used to establish a new start-up for digital mental health innovations.

Black Man Violently Attacked At Charlottesville Rally Faces Felony Charge
Harris told WRAL in Raleigh, North Carolina that doctors used eight staples to seal his head together after the attack. Charlottesville police have charged two of Harris's attackers, but only after a national campaign demanded they do so.

Iceland Become Smallest Nation Ever To Qualify For World Cup Finals
Iceland beat Turkey on Friday night 3-0. "The success is not an end in itself but a long journey towards a final destination". Along the way, they picked up a historic win over England in the knockout round with a 2-1 victory.

'Blade Runner 2049' tops the box office
Based on the Hasbro toys and TV series, the movie's voice cast includes Emily Blunt , Kristin Chenoweth, Uzo Aduba, and Sia. This feature-length animated film made its entry to the fourth place at the box office with $ 8.9 million.

Angelina Jolie turns real life spy by helping capture warlord
So she reportedly offered herself as a honeypot. "Forget other celebrities, she is the one", he wrote. "She is ready. Moreno Ocampo ended his term at the head of the ICC in 2012, so the plot was hatched before then.

Giroud 'very close' to joining Everton in summer
The club-record signing of Giroud's France team-mate Alexandre Lacazette left his future up in the air. I didn't want to return to France.

Barcelona to move for Dele Alli as Philippe Coutinho transfer alternative
The England worldwide is now in the process of changing agents and only earns around £50,000-a-week at Mauricio Pochettino's side.

'Only One Thing Will Work' Against North Korea
Although Kim made the comments Saturday they were reported hours after Trump's "only one thing will work" tweet. Not stopping there, Donald Trump made a cryptic remark that appeared to hint at a potential military strike.

India succumb to 1-2 defeat against Colombia
Juan Penaloza's rasping 49th-minute left footer put the South Americans ahead. This was in the in the beginning of the Group A match.

Trump wants Secretary of State Tillerson to be 'a little bit tougher'
The US President ever since coming to power has been very vocal and bold about actions against such nations and groups. President, what did you mean by "Calm before the storm"? "And, as he said last night.you'll have to wait and see".