Richard Thaler Wins Nobel Prize in Economics0

• Economics
• October 10, 2017

The University of Chicago’s Richard Thaler has been awarded this year’s Nobel Prize in economics. Thaler is a leading practitioner of behavioral economics, the application of psychology to problems of valuation, choice, exchange, and pricing. Following Mises, most Austrian economists have distinguished sharply between praxeology, the logical analysis of action, and psychology, the behavioral motivations and