Economist

Richard Thaler

Richard Thaler

Born:

Richard Thaler is an American economist and Professor of Behavioral Science and Economics born on 12 September 1945, In East Orange, New Jersey, U.S.

Family Background:

He is the son of Alan M. Thaler and his wife Roslyn. His father was an actuary at the Prudential Financial in Newark, New Jersey. His mother was a teacher and later real estate agent.

Personal Life:

Richard married France Leclerc, a former marketing professor at the University of Chicago. They have three children.

Education:

In 1967, He graduated from the Newark Academy before going o to receiving his Bachelor of Arts degree from the Case Western Reserve University. In 1970, He completed his Master’s degree from the  University of Rochester.

Career:

After completing his graduation from the  University of Rochester, He had started his career as a professor there. From 1978 to 1995, He was the faculty at the SC Johnson College of Business at Cornell University and then had shifted again to University of Chicago’s Booth School of Business in 1995. During the years of 1987 to 1990, He had regularly published the column named ‘Anomalies’ in the ‘Journal of Economic Perspectives’, That had earned him All over the area attention in the field of economics. In 1992, He combined many of his “Anomalies” columns from the ‘Journal of Economic Perspectives’ into the book, ‘The Winner’s Curse: Paradoxes and Anomalies of Economic Life’. He has contributed the standard reference to this new approach in finance via his 1993 book titled ‘Advances in Behavioral Finance’. In 1994, He released another book with the name “Quasi Rational Economics”. In this book, He questioned that Why Standard economics models often fail to predict market behavior accurately. In 2008, Richard and Cass Sunstein co-authored the book ‘Nudge: Improving Decisions About Health, Wealth, and Happiness’, which is the best-known work for the economic field. In 2010, He began a writing column for the New York Times News Service with the series of economic solutions to address America’s financial problems.

Unknown Facts:

  • He has had been seen in a cameo role in the 2015 film.
  • He is the founder of Fuller & Thaler Asset Management.

Master Stroke:

  • His 2008 book titled “Nudge: Improving Decisions About Health, Wealth, and Happiness”, with Cass Sunstein is one of the best-known work in the field of behavioral economics.

Awards and Achievements:

  • In 2017, He received the Nobel Memorial Prize in Economic Sciences.

What can we learn from him??

Like Richard Thaler, Give your best work in your field. work with full of concentrate.

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