Honoris Causa Title for Professor Richard H. Thaler

25 Nov

On the 10th of December, Professor Richard H. Thaler, American economist, will receive the honorary degree Doctor oeconomiae honoris causa from the rector of the University of Economics, Prague (VŠE) professor Hana Machková. Professor Thaler is an internationally renowned scientist in the area of alternative economic approaches to behavioral economics, as well as being one of today‘s leading intellectuals.. Professor Thaler is also included in the tightest circle of candidates for the Nobel Prize for Economics.

The ceremony will take place on Thursday, 10th of December at 4 p.m. in Vencovskeho aula VŠE. Students, pedagogues and graduates of VŠE as well as members of the public are invited to this solemn and joyous occasion. Please, register here.

Richard H. Thaler is a professor at the University of Chicago, Booth School of Business. On the basis of a proposal made by the Scientific Council of the Faculty of Economics, University of Economics, Prague, on 28th May, 2014, it was decided to award the honorary degree of Doctor Oeconomiae Honoris Causa to Richard H. Thaler. The decision was taken on 4th November, 2014, by the Scientific Council of the University of Economics, Prague.

The degree of Doctor Honoris Causa is awarded by the VŠE to those people who have made particularly important contributions to science, both theoretically and practically, especially in the economic sphere. The honorary doctorate which will be awarded to Professor Richard H. Thaler is in keeping with the profile of the VŠE as a leading scientific-pedagogical university. The degree also bears witness to the fact that the VSE has developed not only mainstream economic theory and practice, but also those alternative economic approaches which can help to develop the already existing economic models. Professor Richard H. Thaler personifies the modern multidisciplinary approach to solving the real problems of interpersonal interactions and analysis of human behavior. His intellectual activity as the main representative of today‘s influential power; that of behavioral economics; can serve as an inspiration for the academic community of the University of Economics, Prague.

Professor Richard H. Thaler is considered to be a leading representative of contemporary behavioral economics. He is also the founder of the related economic field of behavioral finance. In his research he also examines the question of why, under certain circumstances, people do not behave according to the concept of “Homo Economicus“.

Professor Richard H. Thaler applies the results of his scientific in the area of economic practice. He founded, and leads, the investment company: Fuller & Thaler Asset Management, whose investment strategy is based on the application of the knowledge of behavioral economics to capital markets. He also acts as a formal advisor to the UK government and Prime Minister David Cameron, as well as being an informal adviser to President Barack Obama. Most recently, he has published the book Misbehaving: The Making of Behavioral Economics (Spring 2015).

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