Richard H. Thaler is a prominent figure in the field of behavioral economics, known for his pioneering work on how psychological factors influence economic decision-making. His research has significantly altered the understanding of human behavior in economic contexts, moving beyond traditional models that typically assume rationality. Thaler has illustrated that people often make illogical choices, highlighting biases and heuristics that shape financial decisions. One of Thaler's major contributions is the concept of "nudging," which...
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