Click link below picture

.

An American professor won the Nobel Prize in economics on Monday for groundbreaking research into why people make bad decisions.

Richard Thaler, whose work influenced the Obama administration and led to a cameo in “The Big Short,” was cited for his research in the field of behavioral economics. He gets 9 million Swedish krona, or about $1.1 million.

 “I will try to spend it as irrationally as possible,” he told reporters.
.

Economics is built on the assumption that people make rational decisions based on the desire to increase their economic well-being. While economists have long known that isn’t strictly true, Thaler was a pioneer in studying why people sometimes make irrational decisions, and how they can be encouraged to make smarter ones.

“He’s made economics more human,” said Peter Gärdenfors, a member of the committee that awarded the prize.

.

.

.

Click link below for article and video:

http://money.cnn.com/2017/10/09/news/nobel-prize-economics-2017/index.html

.

__________________________________________