President Robert J. Zimmer: Professor Richard Thaler Awarded Nobel in Economics

To:  Members of the University Community
From:  Robert J. Zimmer
Subject:  Professor Richard Thaler Awarded Nobel in Economics
Date:  October 9, 2017

I am pleased to share the news that this morning, Richard Thaler, the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business, was awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2017. Richard’s original, broadly influential, and paradigm-defining work has richly earned this recognition.

In announcing the award, the Royal Swedish Academy of Sciences cited Richard’s historic role in building the field of behavioral economics, noting that his “contributions have built a bridge between the economic and psychological analyses of individual decision-making.” Richard’s work has challenged classical ideas about what motivates the behavior of individuals in the economy, and forged new understanding of behavior in domains ranging from household finances to issues of national policy. His books include Misbehaving: The Making of Behavioral Economics (2015) and Nudge: Improving Decisions About Health, Wealth and Happiness (2008), which explored how the concepts of behavioral economics could be used to address major societal problems and influence public policy.

We invite everyone in the University of Chicago community to join us this morning for a University-wide recognition of this award. The event will take place at 11 a.m. in the Winter Garden of Chicago Booth’s Charles M. Harper Center, at 5807 South Woodlawn Avenue. The event will also be webcast. We look forward to celebrating Richard’s work and his place in the distinguished legacy of eminent economics research at the University of Chicago.