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 *Yawn* Nobel prize in economics awarded to Richard Thaler

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PostSubject: *Yawn* Nobel prize in economics awarded to Richard Thaler    Mon Oct 09, 2017 7:24 pm

One of the founding fathers of “nudge” theory, which has helped boost British tax receipts and encouraged smokers to become vapers, has been awarded the 2017 Nobel prize for economics.

Richard Thaler co-wrote a bestselling book on the nudge concept read by politicians around the world and soon had them embracing the notion that people can be influenced by prompts – such as changing the wording of tax demands – to alter their behaviour.

As well as tweaking the sentences in tax reminder letters to increase HMRC takings, Thaler’s branch of economics has influenced Theresa May’s announcement of an “opt out” policy for organ donations where it is presumed that people wish to donate body parts unless they state otherwise. The Department of Health has also adopted nudge principles in its approach to e-cigarettes.

https://www.theguardian.com/world/2017/oct/09/nobel-prize-in-economics-richard-thaler

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*Yawn* Nobel prize in economics awarded to Richard Thaler

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