Richard Thaler, Director of the Center for Decision Research, is best known as a theorist in behavioral finance, and for his collaboration with Daniel Kahneman and others in further defining such field.
Richard Thaler studies behavioral economics and finance as well as the psychology of decision-making, which lies in the gap between economics and psychology. He investigates the implications of relaxing the standard economic assumption that everyone in the economy is rational and selfish, instead entertaining the possibility that some of the agents in the economy are sometimes human.
He is Co-director of the National Bureau of Economic Research project on Behavioral Economics and member of the American Academy of Arts, and served as Vice-president of the American Economic Association and fellow of the American Finance Association.
Thaler is co-author of the global best-seller "Nudge", in which concepts of behavioral economics are used to tackle many of society's major problems, and has authored or edited other books including "Quasi-Rational Economics", "The Winner's Curse", and "Advances in Behavioral Finance I and II".
Before joining the University of Chicago faculty in 1995 he worked as Professor at the University of Rochester and Cornell University, and as visiting Professor at University of British Columbia, Russell Sage Foundation, MIT's Sloan School of Management, and Stanford's Center for Advanced Study in Behavioral Sciences.
Richard Thaler holds a B.A from Case Western Reserve University, a master's degree and a Ph.D from the University of Rochester. He has published a number of articles in prominent journals such as the American Economics Review, the Journal of Finance, and the Journal of Political Economy.