RICHARD H. THALER is the father of behavioral economics the study of how thinking and emotions affect individual economic decisions and the behavior of markets. 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. Thaler is Director of the Center for Decision Research at the University of Chicago Graduate School of Business. He is coauthor (with Cass Sunstein) of Nudge: Improving Decisions About Health, Wealth, and Happiness, and author of Misbehaving. He writes a column for the Sunday New York Times.
Daniel Kahneman & Richard Thaler at Edge retreat, Spring Mountain Vineyard, August 2013