How does Richard Thaler's work connect economics and psychology?
Through Behavioral Economics
By Experimenting on Rats
Through a Bridge
They Don't Connect
Answer
Richard Thaler's work connects economics and psychology through behavioral economics, which is the study of how human psychology affects economic decision-making. Thaler's work has shown that people are not always rational actors, and that their decisions are often influenced by factors such as emotions, heuristics, and social norms. This has led to a new understanding of how markets work, and has helped to improve the design of economic policies.
The Richard Thaler Trivia Challenge: Master the Mind of an American Economist
More Questions
In which year was Richard Thaler born?
What's Richard Thaler's middle initial?
In 2018, Thaler was elected a member of which notable organization?
The Royal Swedish Academy of Sciences recognised Thaler for building bridges between what?
Where is Richard Thaler currently the Charles R. Walgreen Distinguished Service Professor?
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