Richard Thaler is an American economist who studies how people make financial and economic decisions in real life, often departing from the rational behavior that traditional economic theory assumes. His research matters because it has reshaped how economists, policymakers, and businesses understand human decision-making and has influenced practical applications in policy design and financial planning.
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Richard H. Thaler (/ˈθeɪlər/; born September 12, 1945) is an American economist and the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business. In 2015, Thaler was president of the American Economic Association.
Thaler is a theorist in behavioral economics. He has collaborated with Daniel Kahneman, Amos Tversky, and others in further defining that field. In 2018, he was elected a member in the National Academy of Sciences.
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