Richard Thaler: A man of tomorrow

Richard Thaler: A man of tomorrow
Richard Thaler, winner of the 2017 Nobel Prize for economics Picture: Getty

Ireland can learn a lot from the Nobel-winning economist Thaler

Richard Thaler, the 2017 Nobel economics laureate, is responsible for a shift in mainstream economics towards more psychological realism in modelling consumer and investor behaviour. He has spent the bulk of his career at the University of Chicago and is seen as the leading figure in behavioural economics.

Thaler’s ideas are relevant to many areas of public policy in Ireland, in particular pensions. Along with his colleague Shlomo Benartzi, Thaler designed and evaluated a pension participation...

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