Our Cool Friend Richard Thaler was awarded a Nobel prize! We applaud him and his work in Behavioral Economics, a field he is considered by many to have invented. We interviewed him back in 2008, soon after his book Nudge: Improving Decisions about Health, Wealth, and Happiness, written with Cass Sunstein (a lawyer), was first published. The nub is that you may think you’re making rational financial decisions, but maybe you’re not. To get an idea of what his work is about, you can read our Cool Friend interview, or this article from the Economist, which describes the theory simply and completely. Congratulations to Richard Thaler from Tom and all of us here at tompeters.com!
