EXTRA: People Aren’t Dumb. The World Is Hard. (Update)

You wouldn’t think you could win a Nobel Prize for showing that humans tend to make irrational decisions. But that’s what Richard Thaler has done. In an interview from 2018, the founder of behavioral economics describes his unlikely route to success; his reputation for being lazy; and his efforts to fix the world — one nudge at a time.

 

SOURCES:Richard Thaler, professor of behavioral science and economics at the University of Chicago.

 

RESOURCES:“Behavioral Economics,” by Richard Thaler (The Past, Present, and Future of Economics: A Celebration of the 125-Year Anniversary of the JPE and of Chicago Economics, December 2017).Misbehaving: The Making of Behavioral Economics, by Richard Thaler (2015).Nudge: Improving Decisions About Health, Wealth, and Happiness, by Richard Thaler and Cass Sunstein (2008).

 

EXTRAS:"Farewell to a Generational Talent," by Freakonomics Radio (2024)."Why Is Richard Thaler Such a ****ing Optimist?" by People I (Mostly) Admire (2021)."All You Need Is Nudge," by Freakonomics Radio (2021)."How to Launch a Behavior-Change Revolution," by Freakonomics Radio (2017).“How To Win A Nobel Prize," by Freakonomics Radio (2015).The Big Short, film by Adam McKay (2015).