Abstract

The Royal Swedish Academy of Sciences has decided to award the Swedish National Bank Prize for Excellence in Economic Sciences in memory of Alfred Nobel to Richard Thaler "for his contributions to behavioural economics". Richard Thaler1 was born on 12 September 1945 in East Orange, New Jersey, USA. He defended his doctoral thesis on 'How much does it cost to save a life: a market valuation' in 1974 at the University of Rochester, USA.

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