October 13, 2017
Do people really behave as rationally as economists say they do? That’s the question this year’s Nobel Prize winner in economics dedicated his career to answering. Professor Richard Thaler began tracking real-life examples of how human behavior bucked economists’ expectations. His findings, once considered heretical, are now seen as a “bridge between the economic and psychological analyses of individual decision-making” and are used by governments and businesses all over the world.
We congratulate Professor Thaler for his win. He has inspired more and more scholars to chip away at the edifice of the Efficient Market Hypothesis. But what paradigm should replace it?
If you look closely, you can see patterns in social mood that help you predict social trends. Learn more with the Socionomics Premier Membership.