Nobel economics prize goes to Richard Thaler

The 2017 Nobel season wrapped up on Monday (October 9) with the economics prize awarded to Richard Thaler of the University of Chicago.

The Nobel Economics Prize was created by the Swedish central bank “in memory of Alfred Nobel” and first awarded in 1969, unlike the other prizes which were created in his last will and testament and first awarded in 1901.

The award rounded off a week of prize announcements, including the literature prize to Kazuo Ishiguro, Britain’s Japan-born author best known for “The Remains of the Day”, and the peace prize to anti-nuclear campaigners ICAN, a coalition of NGOs.

Last year’s economics prize went to British-American economist Oliver Hart and Bengt Holmstrom of Finland for their ground-breaking research on contract theory, which has helped design insurance policies and executive pay.

Source: The Daily Star

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