7 Richard Thaler Columns That Explain How Human Behavior Affects Economics<br />Instead, he said that he has practiced behavioral economics — which holds<br />that imperfect humans don’t fit neatly into classic economic models — and that his body of work has explored the intersection between human quirks and economic forces.<br />Mr. Thaler wrote that we know how to fix much of the retirement problem, and we can afford to,<br />but need to figure out ways to help people who are just dropping the ball.<br />Mr. Thaler embraced the use of nudges to encourage people to act in their own best interests, and he provided some real-life examples.<br />In a traditional economist’s view, hungry shoppers are not subconsciously influenced by their stomachs to buy more food,<br />and most people are inclined to think of cash as the best gift idea.<br />Richard H. Thaler, who won the 2017 Nobel Memorial Prize in Economic Science, is no stranger to our pages.
