The winner of the prize of the Swedish state Bank on economic Sciences of memory of Alfred Nobel for 2017 was the American economist Richard Thaler for “contributions to behavioral Economics”, announced on Monday the General Secretary of the Royal Swedish Academy of Sciences göran Hansson.

“The Royal Swedish Academy of Sciences decided to award the Swedish national Bank prize in economic Sciences in memory of Alfred Nobel 2017 Richard Thaler for his contribution to behavioral Economics,” – said in a press release fr om the Academy.

It is noted that R. Thaler “included psychological realistic assumptions in the analysis of economic decision-making”.

“Examining the impact of bounded rationality, social preferences, and the lack of control he showed how these human traits systematically influence the individual decisions as well as on the performance in the markets”, – emphasized in a press release.

R. Thaler was born in 1945 in the American state of new Jersey.

He is known for his work in the field of financial and economic behavior. In particular, he wrote such works as “Quasi economic theory and the winners Curse: paradoxes and anomalies of economic life.”

In 2005 he won the Paul Samuelson for the scientific and research activities.

At the moment is a Professor in the school of business at the University of Chicago.