WASHINGTON — The American Psychological Association congratulates Richard H. Thaler, PhD, on being named recipient of the 2017 Nobel Prize in Economic Sciences. As noted by the Royal Swedish Academy of Sciences, which awards the prize, Thaler's contributions “have built a bridge between the economic and psychological analyses of individual decision-making.”
“Dr. Thaler has examined such topics as limited rationality, concerns for fairness, and mechanisms of self-control,” said APA President Antonio E. Puente, PhD. “His work has had a strong impact not only on research, particularly the establishment of the field of behavioral economics, but on public policy, as seen in the increasing importance among governments and organizations around the world in practices that encourage rather than mandate people toward desirable actions.”
Trained as an economist, Thaler has engaged in creative interdisciplinary work throughout his career, including collaborations with psychologists and legal scholars. Among his collaborators is Princeton University psychologist Daniel Kahnemanopens in new window, winner of the 2002 Nobel Prize in Economic Sciences and keynote speaker at APA’s 2017 Annual Convention.
“The awarding of the Nobel Prize to Richard Thaler marks both his significant accomplishments and the value of interdisciplinary approaches to investigating human behavior and improving human welfare,” said APA CEO Arthur C. Evans Jr., PhD.
The American Psychological Association, in Washington, D.C., is the largest scientific and professional organization representing psychology in the United States. APA's membership includes nearly 115,700 researchers, educators, clinicians, consultants and students. Through its divisions in 54 subfields of psychology and affiliations with 60 state, territorial and Canadian provincial associations, APA works to advance the creation, communication and application of psychological knowledge to benefit society and improve people's lives.