The American economist Richard H. Thaler was awarded this year’s Nobel Memorial Prize in Economic Sciences for his pioneering contributions to behavioral economics. Thaler’s research serves as the fundamental basis in this field of study. The Commitee’s report also mentions the theoretical model “A Theory of Equity, Reciprocity, and Competition” by C-SEB members Bolton and Ockenfels (2008) as one of the essential works in behavioral economics. C-SEB congratulates Prof. Thaler to this outstanding award.
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