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Press Statement 17-007

Statement on the Nobel Prize for Economics 2017

2017 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel awarded to Richard H. Thaler

Richard H. Thaler portrait.

Richard H. Thaler received the 2017 Nobel Prize in Economics. NSF has funded Thaler's work.


October 10, 2017

The 2017 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded to Richard H. Thaler of the University of Chicago "for his contributions to behavioral economics." Thaler's research incorporates findings from psychology into the analysis of economic decision-making. Examples include the examination of extreme sensitivity to losses relative to gains on financial decisions and how perceptions of fairness affect consumers' purchase decisions and limit the ability of firms to change prices.

The National Science Foundation (NSF) supported Thaler for research into investor decisions in retirement planning. This project helped to establish behavioral analysis of financial markets.

NSF Director France Córdova issued the following statement on the announcement:

The groundbreaking work of Richard Thaler has helped launch behavioral economics as a field of basic research. NSF is proud to have supported his work on how individuals rely on short-term horizons in making financial decisions that have long-term consequences for market outcomes. His work has been used by governments and employers around the world to make it easier for people to achieve their goals for health and retirement.

-NSF-

Media Contacts
Stanley Dambroski, NSF, (703) 292-7728, email: sdambros@nsf.gov

The National Science Foundation (NSF) is an independent federal agency that supports fundamental research and education across all fields of science and engineering. In fiscal year (FY) 2017, its budget is $7.5 billion. NSF funds reach all 50 states through grants to nearly 2,000 colleges, universities and other institutions. Each year, NSF receives more than 48,000 competitive proposals for funding and makes about 12,000 new funding awards.

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