University of Chicago professor and former Cornell University academic Richard Thaler was awarded the Nobel Prize for Economic Science on Monday for his contribution in the field of behavioral economics.
Tom Gilovich, professor of psychology at Cornell, also works in the field of behavioral economics and is a close associate of Thaler. He comments on the Royal Swedish Academy of Sciences decision and says Thaler’s work helped create a more realistic economics.
Video of Tom Gilovich, Richard Thaler and other panelists speaking about the “Behavioral Economics Revolution” in 2015: http://www.cornell.edu/video/behavioral-economics-revolution
“For anyone who cares about human behavior, Richard led the way in creating a more realistic economics, one informed by knowing about the capacities and limitations of the human mind.
“And for those Cornellians who were here in the 80s and 90s, he made this a more exciting place to tackle questions about consequential human behavior.”