Richard Thaler
Richard H. Thaler ( born September 12, 1945 in East Orange, New Jersey) is an American economist and professor at the University of Chicago. He is regarded as one of the world's leading behavioral economists and advises, among others, U.S. President Barack Obama.
Life and work
Richard H. Thaler received his bachelor's degree in 1967 from Case Western Reserve University in 1970 and his master's degree at the University of Rochester. In 1974, he was just there with the work The Value of Saving A Life doctorate for Ph. D.. It remained for four years as an assistant professor in Rochester before transferring to Cornell University. He was from 1978 to 1980 Assistant Professor, 1980-1986 Associate Professor, 1986-1988 Professor and from 1988 to 1995 Henrietta Johnson Louis Professor. In 1995 he was Robert P. Gwinn Professor and later Ralph and Dorothy Keller Distinguished Service Professor at the University of Chicago. A visiting professor stay led him in 1994/95 to the Massachusetts Institute of Technology.
Thaler works in the field of behavioral economics, he explores market anomalies and decision-making processes. In addition, he is working on the effects of relaxing the assumption of homo economicus (ie always rational decisive people ).
Works
- The Value of Saving A Life. A Market Estimate. Dissertation ( Supervisor: Sherwin Rosen )
- Quasi- rational economics. Russell Sage Foundation, New York, 1991, ISBN 0-87154-846-1.
- The winner's curse. Paradoxes and anomalies of economic life. Free Press [ua ], New York, 1992, ISBN 0-02-932465-3
- As editor: Advances in behavioral finance. Volume 1, Russell Sage Foundation [ua ], New York 1993, ISBN 0-87154-844-5, ISBN 0-87154-845-3; Volume 2, 2005, ISBN 0-691-12175-3, ISBN 0-691-12174-5
- Cass R. Sunstein with: Nudge. Improving Decisions about health, wealth, and happiness. Yale University Press, New Haven [ua ] 2008, ISBN 978-0-300-12223-7; German as: Nudge. How abut wise decisions. Econ, Berlin 2009, ISBN 978-3-430-20081-3
Awards
- 2003 Honorary Doctorate, Case Western University
- 2005 Paul A. Samuelson Award ( for the written Shlomo Benartzi with Article Save More Tomorrow Using Behavioral Economics to Increase Employee Savings In: .. Journal of Political Economy Volume 112, No. 1, 2004, pp. S164 - S187. . )