Richard Thaler

Richard Thaler
Richard Thaler Chatham.jpg
Thaler in 2015
Born (1945-09-12) September 12, 1945 (age 72)
East Orange, New Jersey, United States
Education Case Western Reserve University ( BA)
University of Rochester ( MA, PhD)
Awards Nobel Memorial Prize in Economic Sciences (2017)
Scientific career
Fields Behavioral finance
Institutions Graduate School of Management at the University of Rochester (1974–1978)
Johnson School of Management at Cornell University (1978–1995)
Booth School of Business at the University of Chicago (1995–present)
Thesis The Value of Saving a Life: A Market Estimate (1974)
Doctoral advisor Sherwin Rosen
Influences Daniel Kahneman
Herbert A. Simon
Influenced George Loewenstein
Richard H. Thaler during Nobel Prize press conference in Stockholm, December 2017

Richard H. Thaler ( ər/; born September 12, 1945) is an American economist and the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business. In 2015, Thaler was president of the American Economic Association. [1]

He is a theorist in behavioral finance, and collaborated with Daniel Kahneman and others in further defining that field.

In 2017, he was awarded the Nobel Memorial Prize in Economic Sciences for his contributions to behavioral economics. [2] [3] [4] [5] In its Nobel prize announcement, the Royal Swedish Academy of Sciences said that his "contributions have built a bridge between the economic and psychological analyses of individual decision-making. His empirical findings and theoretical insights have been instrumental in creating the new and rapidly expanding field of behavioral economics." [6]

Personal life

Thaler was born in East Orange, New Jersey. His mother, Roslyn (Melnikoff, 1921–2008), [7] was a teacher, and his father, Alan Maurice Thaler (1917–2004), [8] was an actuary at the Prudential Financial in Newark, New Jersey, and was born in Toronto. [9] [10] [11] His family is Jewish, [12] and he grew up with two younger brothers. His great-great grandfather, Selig Thaler (1831–1903) was from Berezhany, Ukraine. [13] He is married to France Leclerc, a former marketing professor. He has three children from his first marriage. [14]

He graduated from Newark Academy, [15] before going on to the receive his Bachelor of Arts in 1967 from Case Western Reserve University, [16] and his master's in 1970 and doctorate in 1974 from the University of Rochester, writing his thesis on "The Value of Saving A Life: A Market Estimate" under the supervision of Sherwin Rosen. [17]

After completing his studies, he began his career as a professor at the University of Rochester. From 1978 to 1995, he was a faculty member at the SC Johnson College of Business at Cornell University and then at the University of Chicago's Booth School of Business in 1995. Since 1999, he has been the Principal of the Fuller & Thaler Asset Management, which he co-founded in 1993. He has also been the co-director of the National Bureau of Economic Research Behavioral Economics Project since 1991.

Other Languages
العربية: ريتشارد ثالر
беларуская: Рычард Тэйлер
čeština: Richard Thaler
español: Richard Thaler
français: Richard Thaler
한국어: 리처드 탈러
Bahasa Indonesia: Richard Thaler
italiano: Richard Thaler
Bahasa Melayu: Richard Thaler
Nederlands: Richard Thaler
oʻzbekcha/ўзбекча: Richard Thaler
ਪੰਜਾਬੀ: ਰਿਚਰਡ ਥੈਲਰ
português: Richard Thaler
română: Richard Thaler
русский: Талер, Ричард
Simple English: Richard Thaler
Türkçe: Richard Thaler
українська: Річард Тейлер
Tiếng Việt: Richard Thaler