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 involves subtly encouraging individuals to make better choices without restricting their freedom. This idea has been effectively applied in various sectors, especially in public policy and health initiatives. By designing choices in a way that aligns with human behavior, Thaler promotes better outcomes for individuals and society as a whole. Thaler's work has garnered widespread acclaim, culminating in the Nobel Prize in Economic Sciences in 2017. His influence extends beyond academia, reaching practical applications in business and government. Through his insights, Thaler has helped to bridge the gap between economics and psychology, significantly impacting how we understand both individual behavior and broader economic systems. Richard H. Thaler is a renowned economist recognized for his groundbreaking research on behavioral economics. His work demonstrates how psychological factors influence economic decisions. By challenging traditional economic theories that assume rational behavior, he has reshaped the understanding of decision-making. Thaler is best known for developing the idea of "nudges," which refers to simple design changes that can significantly impact people's choices. His framework has been applied successfully in various areas, including public policy and health, helping guide individuals toward better decisions while preserving their autonomy. In 2017, Thaler received the Nobel Prize in Economic Sciences, which acknowledges his substantial contributions to the field. His insights have not only affected academic thought but have also influenced practical applications in business and government, making behavioral economics a vital area of study.