Nobel Prize in economics awarded to Richard Thaler who received Doctor oeconomie honoris causa degree at VŠE

10 Oct

Richard H. Thaler, an economist at the University of Chicago, Booth School of Business, was awarded the Nobel Prize in economics for his contributions to the field of behavioural economics. In December 2015 he received an honorary degree of the University of Economics, Prague (VŠE) on the basis of a proposal made by the Scientific Council of the Faculty of Economic.

Professor Richard H. Thaler is considered to be a leading representative of contemporary behavioural economics. He is also the founder of the related economic field of behavioural 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“. Richard H. Thaler has incorporated psychologically realistic assumptions into analyses of economic decision-making. By exploring the consequences of limited rationality, social preferences, and lack of self-control, he has shown how these human traits systematically affect individual decisions as well as market outcomes.

Sincere congratulations to Professor Richard H. Thaler!

Video from the ceremony of awarding the honorary degree can be found here: