News Conference: Thaler and Bob Dylan

news conference: In awarding the prize, the Royal Swedish Academy of Sciences praised Thaler for bringing behavioral economics into the mainstream exploring the impact of psychological and social factors on individual or group decisions in the economy and financial markets. ; Thaler told a news conference at the University of Chicago, where he teaches, that he was very much asleep when he received the 4 a.m. phone call informing him he had won, according to The Japan Times. I had a pretty good idea what that might be, he admitted, joking Unlike Bob Dylan, I do plan to go to Stockholm. So it seems fitting that U.S. economist Richard Thaler, 72, says he wants to spend his 1 million winnings as irrationally as possible. Dylan kept silent for weeks after he was awarded last year's Nobel Prize in literature, although he eventually did accept the prize in the Swedish capital. He is well known for co-founding nudge theory which demonstrates how people can be persuaded to make decisions that leave them healthier and happier. A professor at the University of Chicago's Booth School of Business, Thaler was described by the Nobel jury as a pioneer in his field. (news.financializer.com). As reported in the news.