Friday December 13, 2019

What Paschal Donohoe learned from Richard Thaler

We can’t think carefully about the future and sometimes we’re all just a bit mad. Thaler is one of the fathers of the field of behavioural economics. Today’s budget has all the features Thaler studied.

10th October, 2017
5
Paschal Donohue, minister for finance Pic: RollingNews.ie

Richard Thaler won the Prize in Economic Sciences in Memory of Alfred Nobel.

Thaler won the economics Nobel (and $1 millon) for 40 years of work showing one of the fundamental assumptions about economics—rationality, that we know what is best for ourselves—is wrong.

We don’t always know what’s best for us, we don’t always see the woods for the trees.

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

Patient advocates are unhappy with the latest report on the national cervical screening programme and want further reviews, but some medical experts say resources would be better used elsewhere

Susan Mitchell | 5 days ago

Britain’s so-called ‘election of a generation’ is as muddled and confused as the Brexit debate that preceded it. On the ground in a number of constituencies, it proves difficult to take the temperature of this strangest of political contests

Susan O'Keeffe | 5 days ago

Undisclosed pay deals, secret pensions and underpayment of tax are just some of the problems left by John Delaney, as last week’s press conference revealed that the FAI has a long road ahead of it

Róisín Burke | 5 days ago