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University of Chicago professor Richard Thaler has won the 2017 Nobel Prize in economics for his work on behavioral economics, which tries to understand how humans make decisions, especially bad ones.

Thaler, an American, is one of the leading experts in the relatively new field that combines psychology and economics. He has made a career of studying people’s poor choices — everything from why people save so little for retirement to why National Football League teams that go early in the annual draft typically do a poor job of selecting new players. He’s even looked at how to make bathroom floors cleaner.

“We Americans eat too much, take on too much debt, save too little and put off anything mildly unpleasant as long as possible,” Thaler wrote in a New York Times op-ed in 2011.

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American economist Richard Thaler won the 2017 Nobel Economics Prize for his research on behavioral economics, the study of how humans make decisions.

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Click link below for article and video:

https://www.washingtonpost.com/news/wonk/wp/2017/10/09/american-professor-wins-nobel-prize-in-economics-for-trying-to-understand-irrational-human-behavior/?utm_term=.4db59596730d

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