For 2nd year, no women among Nobel Prize winners

The big news Amit Shah’s son files defamation case against news website and 9 other top stories

The big news Amit Shah’s son files defamation case against news website and 9 other top stories

Richard Thaler, founder of a line of thought described as "behavioral economics", this week was designated the victor of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2017.

The award committee said Thaler was chosen "for his contributions to behavioral economics".

In a statement, the Royal Swedish Academy of Sciences had said that Richard H. Thaler has incorporated psychologically realistic assumptions into analyses of economic decision-making.

He is a professor at the University of Chicago - a school popular with the Nobel economics committee.

Richard Thaler, of the University of Chicago, was speaking in a phone call to a news conference immediately after the Nobel committee announced he is the victor of this years 9-million-kronor ($1.1-million) prize.

Russia Signs S-400 Missiles Deal With Saudi Arabia
OffLate Friday, the State Department OK'd a possible $15 billion sale of 44 Terminal High Altitude Area Defense (THAAD) launchers and 360 missiles from Lockheed.

Their book, titled Nudge: Improving Decisions about Health, Wealth, and Happiness became popular with some western politicians seeking ways to encourage their citizens to save and live healthily, without incurring voters' wrath for raising taxes or banning behaviour outright.

The 72-year-old was described by the Nobel Prize academy as being "a pioneer in behavioral economics, a research field in which insights from psychological research are applied to economic decision making".

Asked how he would spend his prize money, Thaler said: "I will spend it as irrationally as possible".

A University of Rochester graduate and former faculty member is the latest recipient of the Nobel Prize for economics.

The Sveriges Riksbank (Swedish National Bank) Prize in Economic Sciences in Memory of Alfred Nobel was first awarded in 1969, almost seven decades after the series of prestigious prizes that Nobel called for. Interestingly enough, the Nobel Memorial Prize in Economic Sciences was never established in the will of Alfred Nobel, thus the "memorial" distinction from the other five established prizes.

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