The Atlantic

Richard Thaler Wins the Nobel in Economics For Killing Homo Economicus

Thaler’s work shows that assuming human beings are predictably irrational is the most rational approach to studying their behavior.
Source: Kamil Krzaczynski / Reuters

Richard Thaler, one of the fathers of behavioral economics and a professor at the Booth School of Business at the University of Chicago, has won the 2017 Nobel Memorial Prize in Economic Science.

Renowned for his use of data to observe and predict, Thaler’s career has been a lifelong war on Homo economicus, that mythical species of purely rational hominids who dwell exclusively in the models of classical

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