A screen shows the picture of economist Richard H. Thaler, who has won the 2017 Nobel Economics Prize announced in Stockholm on Monday. The Nobel committee said that as a pioneer in behavioural economics, Mr Thaler has built a bridge between economics and psychology to show a “more realistic analysis of how people think and behave when making economic decisions”. Mr Thaler had a cameo alongside pop star Selena Gomez in the film The Big Short, about the global financial crisis. On Monday, Mr Thaler told the news conference that he will likely use the prize money in ways consistent with his research. The economics prize is something of an outlier -- Alfred Nobel's will didn't call for its establishment and it honours a science that many doubt is a science at all.

Source: Bangkok Post October 09, 2017 11:15 UTC